Karuna Therapeutics up on additional safety data on schizophrenia drug

Karuna Therapeutics

17/11/2023 16:23

** Shares of Karuna Therapeutics  KRTX.O  rise 6% to $178.50
in morning trade    
    ** Late on Thursday, co's schizophrenia drug KarXT met a
main goal in an early-stage study, evaluating the drug's
potential impact on increased blood pressure in patients 
    ** Trial data shows that KarXT was not associated with
increase in blood pressure - company 
    ** Co plans to submit data as a safety update to supplement
its marketing application for the drug to the U.S. Food and Drug
Administration 
    ** Brokerage William Blair expects KarXT's revenue to be
around $2.5 bln in the U.S. by 2030 
    ** William Blair also says data removes a potential barrier
to prescribing the drug in both inpatient and outpatient
settings 
        ** Co is also testing the drug as a potential treatment
for dementia-related psychosis and pain
    ** Including session's move, stock down 9.4% YTD vs 11%
decline in the Nasdaq Biotechnology Index  .NBI 

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))