Capricor Therapeutics, Inc. (CAPR) stock popped high today after it announced positive final data from its Phase 2 HOPE-2 Trial. CAPR stock price saw a push of 16.53% to reach $5.85 a share as of this writing. The stock went up in the previous trade by 3.29% at closing.
Capricor Therapeutics, Inc is the biotech stock that develops transformative cell- and exosome-based therapeutics to treat broad-spectrum diseases. Its lead product candidate is CAP-1002 which has now completed phase 2 trial to treat patients with late-stage Duchenne muscular dystrophy. Let’s dig in to explore more of it.
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What’s Happening?
Capricor therapeutics today released positive final data from the HOPE-2 clinical trial. In this trial, the Capricor study team was treating patients with advanced-stage Duchenne muscular dystrophy by using its lead product candidate CAP-1002. The trial met primary as well as other cardiac and skeletal endpoints. CAPR stock conducted the trial at nine sites in the United States. The study team analyzed the data of 20 patients and 80% of them were non-ambulant. Final data analysis suggested that young men with advanced DMD after getting four doses of CAP-1002 showed cardiac and skeletal improvements.
Financial View of CAPR stock in Q2,2021:
- In the second quarter of 2021 ended June 30, Capricor stock generated $200,000 in revenue. This compares to $50,000 revenue in the same tenure of the previous year. The primary sources of revenue for the CAPR stock are collaborative payments from grant awards and clinical trial arrangements.
- Operating expenses for the CAPR stock reached $5.3 million in the three months ended June 30, 2021. For the previous year’s same quarter, operating expenses were $3.5 million.
- CAPR stock suffered a net loss of $4.7 million or $0.21 per share in the second quarter of 2021. The per-share net loss decreased as the previous year’s same quarter net loss was $0.23 per share.
- By the end of the second quarter of 2021, CAPR stock had $38.1 million in cash and cash equivalents as compared to $32.7 million as of December 31, 2020.
- Capricor stock generated $1.0 million in net proceeds via the issuance of its common stock at $5.41 per share average price in the at-the-market offering program.
Wrap Up:
Positive Final Data From its Phase 2 HOPE-2 Trial resulted in a significant increase in the per-share price of Capricor stock. The sentiment is positive, and investors expect that this development of CAPR stock will have long-term positive effects. Moreover, the management of Capricor stock expects that its cash in hand is sufficient to support operations for next two years.
