Karuna Therapeutics’ Stock Skyrockets over 300% on Positive Schizophrenia Treatment

Published on: 18 Nov, 2019

Karuna Therapeutics (NASDAQ: KRTX) reported on Monday that its Phase 2 clinical trial of KarXT for the treatment of acute psychosis in patients with schizophrenia met its primary endpoint. The announcement sent shares soaring by as much as 317% during late afternoon trading sessions.

The news also Karuna Therapeutics market cap past the USD 1.0 Billion threshold, as shares hit USD 73.73.

The Company said that its clinical trial demonstrated statistically significant and clinically meaningful 11.6 point mean reduction in total Positive and Negative Syndrome Scale (PANSS) score compared to the placebo. The trial also demonstrated good overall tolerability.

KarTX is an oral coformulation of xanomeline designed to treat psychosis and related symptoms through preferential stimulation of muscarinic receptors in the central nervous system.

“The schizophrenia treatment landscape has remained rather stagnant for decades with therapeutic options relying on discoveries dating back to the 1950s,” said Steve Paul, M.D., Chief Executive Officer, President, and Chairman of Karuna. “KarXT and its novel muscarinic receptor mechanism of action represent the potential to become a true advancement in how schizophrenia is treated, allowing patients relief from their debilitating psychotic symptoms without experiencing some of the very troubling side effects associated with current treatments.”

“We are extremely pleased with these results, as the 11.6-point PANSS score separation from placebo far exceeded the five-point minimum improvement that has historically supported approval of current antipsychotics,” said Stephen Brannan, M.D., Chief Medical Officer of Karuna.

“With this information, and following our anticipated end-of-Phase 2 meeting with the FDA in the second quarter of 2020, we will work to initiate a Phase 3 clinical trial of KarXT in patients with schizophrenia by the end of 2020. We also plan to further analyze these results to better understand the potential of KarXT in patients with schizophrenia experiencing negative and cognitive symptoms, and to explore other CNS disorders that could benefit from this approach, such as psychosis in Alzheimer’s disease as well as the management of pain,” concluded Brannan.

Ratings

Ratings
  • 2037Views
  • 7Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Bryan Shin

Email: Bryan@financialinsiders.com

@Newsletter

Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

07 Jun, 2017 4003
14 Jun, 2017 3232
21 Jun, 2017 3541
21 Jun, 2017 3460

7 Comments

whibrar

Jun 14, 2020 at 05 55 pm

Side Effects Cycle https://agenericcialise.com/ - Cialis Can Amoxicillin Get You High Cialis Viagra Hausmittel

REPLY (0)

whibrar

Jun 15, 2020 at 08 19 pm

Prevacid Buy One Get One Free Coupon https://cheapcialisll.com/ - Cheap Cialis Order Apcalis Sx Cheap Cialis comprar cialis transferencia bancaria

REPLY (0)

?»?cialis

Jul 05, 2020 at 01 33 pm

Achat Kamagra Pharmacie Suisse accurffrut https://acialisd.com/# - Cialis Viancy To Buy Clomid fortiods Cialis MoreKeli Prezzo Cialis Da 5 Mg

REPLY (0)

buy cialis online prescription

Aug 25, 2020 at 03 46 am

Bentyl In Internet Tablets Optineeswepe https://artsocialist.com/ - Cialis Envivy Cephalexin 500 Mgs Twice A Day Oraphy cialis online cheap geadly Propecia Efectivo Pelo

REPLY (0)

drideoxia

Dec 18, 2020 at 09 21 pm

H Pylori And Cephalexin Optineeswepe cialis cheapest online prices Envivy Acticin Best Website

REPLY (0)

drideoxia

Dec 22, 2020 at 12 21 am

Priligy Informacion Para Prescribir Optineeswepe cheapest cialis generic online Envivy generic cialis in usa

REPLY (0)

drideoxia

May 09, 2021 at 09 07 am

kamagra 100 without prescription

REPLY (0)