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Small-Cap Snapshot: Cara Therapeutics lands licensing deal, Revlon appoints its first female CEO

Last updated: 16:13 23 May 2018 BST, First published: 15:43 23 May 2018 BST

Makeup bag
The cosmetics company has not had a female CEO since it was founded in 1932

It was a weak Wednesday for the small-cap indices with the Russell 2000 and the S&P 600 seeing minimal gains.

Biotech Cara Therapeutics Inc (NASDAQ:CARA) was a top gainer following a licensing deal for its drug Korsuva, an injectable used to treat itching as a result of kidney dialysis. The Connecticut-based company reached an agreement with Vifor Frenius Medical Care Renal Pharma, the largest provider of kidney dialysis in the United States. Shares of the company surged more than 27% to US$14.76.

READ: Cara Therapeutics shares pop on a lucrative licensing deal for its drug Korsuva

Payment technology service USA Technologies Inc (NASDAQ:USAT) shares jumped double digits after announcing pricing of a public offering. The company, which provides the tech behind cashless and mobile transactions, will offer more than 5.4 million shares at US$11 per share. USA Technologies expects to raise as much as US%59.76mln Shares of the Pennsylvania-based company were up more than 10% to US$13.03.

Casual dining chain Red Robin Gourmet Burgers Inc (NASDAQ:RRGB) was a top decliner after missing earnings expectations in its first-quarter results. The company reported adjusted earnings of US$0.69 per share on revenue of US$421.5mln versus analyst estimates of US$0.76 EPS on revenue of US$427mln. Shares of the Colorado-based company fell nearly 18% to US$47.65.

Cosmetics company Revlon Inc (NYSE:REV) will be led by a female CEO for the first time since it was founded in over 85 years ago. Debra Perelman, the current chief operating office, will head the long-time beauty trendsetter. Shares of the New York-based company were down more than 4% to US$18.05.

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