By Chris Wack
Positive top-line results from a Phase 3 trial evaluating the efficacy, safety and tolerability of investigational therapy, KarXT xanomeline-trospium, in adults with schizophrenia led the stocks of Karuna Therapeutics Inc. and Zai Lab Ltd. higher Monday.
Karuna shares were 56% higher to $219.15. KarXT is Karuna's lead investigational therapy.
Zai Lab shares were up 5% to $47.48. Zai Lab has an exclusive license agreement with Karuna Therapeutics for the development, manufacturing, and commercialization of KarXT in Greater China, including mainland China, Hong Kong, Macau and Taiwan.
Karuna Therapeutics said the trial met its primary endpoint, with KarXT demonstrating a statistically significant and clinically meaningful 9.6-point reduction in the Positive and Negative Syndrome Scale, or PANSS, total score at the fifth week.
KarXT also showed an early and sustained statistically significant reduction of symptoms, as assessed by PANSS total score, starting at the second week, and maintained the reduction through all time points in the trial, the company said.
The KarXT trial also met secondary endpoints, demonstrating a statistically significant reduction in symptoms of schizophrenia, the company said.
Write to Chris Wack at firstname.lastname@example.org
(END) Dow Jones Newswires