Capricor Therapeutics Shares Tumble on Covid-19 Study Update >CAPR

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By Colin Kellaher

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Shares of Capricor Therapeutics inc. fell sharply on Monday after the biotechnology company signaled uncertainty about its Covid-19 drug candidate.

The Beverly Hills, Calif., company said that while a Phase 2 study of its lead asset, CAP-1002, as a potential treatment option for hospitalized patients with advanced symptoms of Covid-19 met its primary objective of safety, it is evaluating its next steps for the program given the effectiveness and widespread use of Covid-19 vaccines and a drop in hospitalization rates across the US

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Capricor also said it is open to discussing potential partnering opportunities.

Capricor is currently developing CAP-1002 for the treatment of Duchenne muscular dystrophy, a rare, fatal neuromuscular genetic disease, and earlier this year formed a related partnership with Japan’s Nippon Shinyaku Co.

Capricor shares were recently changing hands at $4.40, down 22.5%, in early trading.

Write to Colin Kellaher at [email protected]

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Credit: www.marketwatch.com /

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