By Elias Schisgall
Shares of Capricor Therapeutics fell after the company posted a wider-than-expected loss in the fourth quarter after not bringing in any revenue.
Shares were down 8.6% to $30.54 in Friday afternoon trading. The stock has more than doubled in value in the past year.
The biotechnology company on Thursday posted a quarterly loss of $30.2 million, or 62 cents a share, compared with a loss of $7.12 million, or 16 cents a share, a year earlier.
Capricor did not post any revenue during the quarter, compared with $11.1 million a year prior.
The company said its primary sources of revenue were $40 million in upfront and first-development milestone payments and $10 million in second-development milestone payments per the company's distribution agreement with Nippon Shinyaku. Those payments were recognized as of year-end 2024, it said.
Analysts surveyed by FactSet were expecting $500,000 in revenue and a loss of 51 cents a share.
The company said it is continuing to work toward approval for Deramiocel to treat Duchenne muscular dystrophy. A biologics license application for the treatment is under review by the Food and Drug Administration, and the company expects a response from the agency by Aug. 22.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
03-13-26 1448ET
