Cara Therapeutics is up 84% since January. Seems impressive, doesn't it? 

The company announced after Thursday’s close it would be issuing 4.45 million new shares of CARA at a price of $18 each. The entire offering, including the over-allotment option, is worth $92.1 million.

Cara also announced encouraging results from Part A of the Phase 2/3. 

"We are extremely pleased with these results, where I.V. CR845 demonstrated sustained clinical and quality of life benefits in dialysis patients suffering from UP and supports the viability of this therapeutic approach for the long-term treatment of this unmet medical need," said Derek Chalmers, Ph.D., D.Sc., President and Chief Executive Officer of Cara Therapeutics. "As a next step, we plan to meet with the FDA to finalize the trial design of Part B of this Phase 2/3 study and to initiate patient recruitment later this year."

"These exciting results underscore I.V. CR845's potential, if successfully developed, to become an approved therapy in the U.S. for CKD patients suffering from UP," said Gil Yosipovitch, M.D., Professor of Dermatology, Miller School of Medicine, and Director of the Miami Itch Center at the University of Miami. "There is an unmet medical need for an effective long-term therapy for treating this intractable pruritus and providing meaningful improvement in the quality of life of these patients under dialysis treatment."

If the company keeps delivering such great test results, it may be the best performing stock this year. 

Do you think it will go to $20 this month? Vote agree or disagree, sign in or sign up with your ST / TWTR / FB account