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KARUNA THERAPEUTICS, INC.

(KRTX)
  Report
Delayed Nasdaq  -  04:00 2022-09-29 pm EDT
224.50 USD   -0.50%
07:42aRBC Lifts Price Target on Karuna Therapeutics to $293 From $292, Maintains Outperform Rating, Speculative Risk Qualifier
MT
09/24Certain Stock Options of Karuna Therapeutics, Inc. are subject to a Lock-Up Agreement Ending on 24-SEP-2022.
CI
09/24Certain Common Stock of Karuna Therapeutics, Inc. are subject to a Lock-Up Agreement Ending on 24-SEP-2022.
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Karuna Therapeutics, Zai Lab Shares Higher After Trial Data for KarXT

08/08/2022 | 08:04am EDT

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 chris.wack@wsj.com


(END) Dow Jones Newswires

08-08-22 1004ET

Stocks mentioned in the article
ChangeLast1st jan.
KARUNA THERAPEUTICS, INC. -0.50% 224.5 Delayed Quote.72.23%
MSCI TAIWAN (STRD) 0.22% 465.029 Real-time Quote.-35.75%
ZAI LAB LIMITED -7.81% 35.08 Delayed Quote.-39.46%
All news about KARUNA THERAPEUTICS, INC.
07:42aRBC Lifts Price Target on Karuna Therapeutics to $293 From $292, Maintains Outperform R..
MT
09/24Certain Stock Options of Karuna Therapeutics, Inc. are subject to a Lock-Up Agreement E..
CI
09/24Certain Common Stock of Karuna Therapeutics, Inc. are subject to a Lock-Up Agreement En..
CI
09/13Stifel Nicolaus Hikes Karuna Therapeutics' Price Target to $295 From $260, Maintains Bu..
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09/12Insider Sell: Karuna Therapeutics
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09/12Transcript : Karuna Therapeutics, Inc. Presents at Morgan Stanley 20th Annual..
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09/07Transcript : Karuna Therapeutics, Inc. Presents at Citi's 17th Annual BioPhar..
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09/02Karuna Therapeutics to Present at Upcoming Investor Conferences
AQ
09/01Karuna Therapeutics to Present at Upcoming Investor Conferences 
BU
08/16Insider Sell: Karuna Therapeutics
MT
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Analyst Recommendations on KARUNA THERAPEUTICS, INC.
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Financials (USD)
Sales 2022 6,28 M - -
Net income 2022 -256 M - -
Net cash 2022 1 040 M - -
P/E ratio 2022 -27,3x
Yield 2022 -
Capitalization 7 545 M 7 545 M -
EV / Sales 2022 1 036x
EV / Sales 2023 240x
Nbr of Employees 118
Free-Float 94,2%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 225,62 $
Average target price 286,06 $
Spread / Average Target 26,8%
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Managers and Directors
Steven Marc Paul Chairman, President & Chief Executive Officer
Troy A. Ignelzi Chief Financial Officer & Secretary
Stephen Brannan Chief Medical Officer
Inder Kaul Vice President-Clinical Development
Ronald Marcus Senior Vice President-Medical
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