Cara Therapeutics Announces Proposed Offering of Common Stock

Cara Therapeutics Announces Proposed Offering of Common Stock

SHELTON, Conn., July 27, 2015 Cara Therapeutics, Inc. (Nasdaq: CARA), a biopharmaceutical company focused on developing and

commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting kappa opioid receptors, today announced that it has commenced an underwritten public offering of shares of its common stock of up to $65 million.

In addition, Cara Therapeutics expects to grant the underwriters a 30-day option to purchase an additional 15% of the number of shares of common stock sold on the same terms and conditions. All of the shares in the offering will be sold by Cara

Stifel and Piper Jaffray & Co. are acting as joint book-running managers for the proposed offering. Canaccord Genuity Inc.,

Needham & Company, LLC and Janney Montgomery Scott LLC are acting as co-managers.

The offering is being made only by means of a written

prospectus forming part of a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the

offering may be obtained, when available, from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at

syndprospectus@stifel.com, or from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at (800) 747-3924, or by email at prospectus@pjc.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these

securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cara Therapeutics

Cara Therapeutics is a

clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting kappa opioid receptors. Cara is developing a novel and proprietary class of

product candidates that target the body s peripheral nervous system and have demonstrated efficacy in patients with moderate-to-severe pain without inducing many of the undesirable side effects typically associated with currently available pain

Forward-Looking Statements

release contains or may imply forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements

deal with future events and are based on Cara Therapeutics current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Cara Therapeutics could differ materially from those

described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding Cara Therapeutics proposed

public offering. These forward-looking statements are subject to other risks and uncertainties discussed in Cara Therapeutics filings with the SEC; including in the Risk Factors

section of Cara Therapeutics Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 27, 2015 and subsequent filings with the SEC. Except as otherwise required by law, Cara Therapeutics disclaims

any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

Chalmers, Ph.D., D.Sc.

Cara Therapeutics, Inc.

Stern Investor Relations, Inc.