Karuna rises after FDA knocks back rival Acadia's antipsychotic drug

Karuna Therapeutics

05/08/2022 18:29

** Shares of Karuna Therapeutics  KRTX.O  rise 5.2% to
$141.34 
    ** U.S. FDA declines to approve rival Acadia Pharmaceuticals
 ACAD.O  treatment for Alzheimer's-related psychosis
 urn:newsml:reuters.com:*:nL4N2ZH0TL
    ** Karuna's KarXT is closer to becoming the first approved
treatment for Alzheimer's disease-related psychosis (ADP), says
William Blair 
    ** Two late-stage studies for the drug are expected to be
completed in 2025
    ** ADP is a "huge market", with 30%-50% of 6 million AD
patients in the United States - brokerage
    ** KRTX up 6.5% YTD

 (Reporting by Leroy Leo)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))