By Colin Kellaher
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
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]
Credit: www.marketwatch.com /