Karuna Therapeutics (NASDAQ:KRTX) news for Monday concerning a Phase 2 clinical trial of KarXT has KRTX stock soaring.
The big Karuna Therapeutics news is that the study for using KarXT to treat acute psychosis in patients with schizophrenia was a success. This saw it met the primary endpoint of the study.
The study saw KarXT 11.6 point mean reduction in total Positive and Negative Syndrome Scales core compared to placebo. It also was well tolerated by patients with discontinuation rates being roughly the same as placebo.
Jeffrey Lieberman, M.D., a member of Karuna Karuna Therapeutics’ scientific advisory board, says this about the results.
“The results of the Phase 2 trial are impressive and encouraging because they indicate that KarXT, if approved, could represent a game-changing therapeutic advance in the treatment of patients with schizophrenia. In addition to its novel mechanism of action, KarXT could be a new therapeutic option that has the potential to offer robust efficacy devoid of weight gain, metabolic effects and extrapyramidal side effects.”
Karuna Therapeutics will be meeting with the U.S. Food and Drug Administration in the second quarter of 2020 to go over the results of the Phase 2 clinical trial. Following this, it plans to start a Phase 3 trial of the drug by the end of that year. It also plans to explore other uses for the drug.
KRTX stock was up 415% as of Monday afternoon. This erases its roughly 12% decline throughout earlier this year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
