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Karuna Therapeutics (NASDAQ: KRTX) shared data from the Phase 3 EMERGENT-2 trial of KarXT for schizophrenia at the 35th ECNP Congress in Vienna, from October 15-18, 2022. The presentation highlighted both previously reported and new safety data, reinforcing KarXT's potential as a novel treatment for schizophrenia. The drug, an investigational M1/M4-preferring muscarinic agonist, aims to address unmet needs in schizophrenia treatment due to its unique mechanism of action. Notably, 21 million people globally are affected by schizophrenia, highlighting the significance of effective therapies.
Karuna Therapeutics (NASDAQ: KRTX) has announced that its senior management will present at several investor conferences in September 2022. Key events include Citi’s 17th Annual BioPharma Conference on September 7 at 9:40 a.m. ET, Wells Fargo Healthcare Conference on September 8 at 9:45 a.m. ET, and Morgan Stanley’s 20th Annual Global Healthcare Conference on September 12 at 8:10 a.m. ET. Live webcasts will be accessible on Karuna's Investor Relations page, with archived replays available for 30 days.
Karuna Therapeutics, Inc. (NASDAQ: KRTX) has successfully closed its upsized underwritten public offering of 4,011,628 shares at a price of $215.00 per share, yielding gross proceeds of approximately $862.5 million. This offering included the full exercise of an underwriter option for an additional 523,255 shares. Goldman Sachs & Co. LLC and J.P. Morgan acted as joint book-running managers. The shares were offered under an effective shelf registration statement filed with the SEC. This capital is intended to support Karuna's mission to develop transformative medicines for psychiatric and neurological disorders.
Karuna Therapeutics (NASDAQ: KRTX) announced a public offering of 3,488,373 shares at $215.00 each, expecting gross proceeds of approximately $750 million before expenses. The offering is set to close around August 12, 2022, pending customary conditions. All shares are sold by Karuna, which also provided underwriters a 30-day option for an additional 523,255 shares. The offering is conducted under a previously filed effective shelf registration statement with the SEC, and details are available on their website.
Karuna Therapeutics (NASDAQ: KRTX) announced an underwritten public offering of $600 million of its common stock, with an option for underwriters to purchase an additional $90 million. The offering is subject to market conditions, and all shares will be sold by Karuna. Goldman Sachs & Co. LLC and J.P. Morgan serve as joint book-running managers, with Jefferies also involved. The company plans to file a preliminary prospectus supplement with the SEC. This offering aims to support its mission in developing transformative treatments for psychiatric and neurological conditions.
Karuna Therapeutics announced positive results from its Phase 3 EMERGENT-2 trial for KarXT, a treatment for schizophrenia, showing a significant 9.6-point reduction in PANSS scores versus placebo.
The company plans to submit a New Drug Application to the FDA in mid-2023 and has $407.4 million cash reserves to fund operations for at least the next year. Financial results showed a net loss of $64.9 million in Q2 2022, up from $34.4 million year-on-year, primarily due to increased R&D expenses.
Karuna Therapeutics (KRTX) announced positive topline results from its Phase 3 EMERGENT-2 trial, which evaluated KarXT for treating schizophrenia. The trial achieved its primary endpoint with a statistically significant 9.6-point reduction in PANSS Total Score compared to placebo (p<0.0001). Key secondary endpoints also showed notable reductions in both positive and negative symptoms of schizophrenia. The treatment was generally well tolerated, with adverse effects comparable to placebo. The company plans to submit a New Drug Application to the FDA in mid-2023.
Karuna Therapeutics (NASDAQ: KRTX) announced upcoming presentations at major investor conferences. The William Blair 42nd Annual Growth Stock Conference is set for June 8, 2022, at 5:00 p.m. ET, followed by the Goldman Sachs 43rd Annual Global Healthcare Conference on June 14, 2022, at 5:00 p.m. ET. A live webcast will be available on their Investor Relations page, with replays accessible for 30 days. Karuna focuses on developing transformative treatments for psychiatric and neurological conditions.
Karuna Therapeutics (NASDAQ: KRTX) has announced a virtual event on May 25, 2022, at 8:00 a.m. ET. The hour-long webcast will focus on the progress of its clinical programs, particularly the upcoming Phase 3 study of KarXT for treating psychosis in Alzheimer’s disease. Presentations will be made by Karuna's leadership team. Interested participants can register here.
Karuna Therapeutics (NASDAQ: KRTX) reported a net loss of $58.2 million for Q1 2022, up from $30.5 million in Q1 2021, primarily due to increased R&D and G&A expenses. The company completed enrollment in the Phase 3 EMERGENT-2 trial for schizophrenia and anticipates topline data in Q3 2022. Additionally, Karuna plans to initiate a Phase 3 program for psychosis in Alzheimer’s disease. As of March 31, 2022, Karuna had $443.2 million in cash, expected to fund operations for at least the next 12 months.