Karuna Therapeutics: Fundraising Makes For Buying Opportunity [Seeking Alpha]
Karuna Therapeutics, Inc. (KRTX)
Company Research
Source: Seeking Alpha
Karuna Therapeutics: Fundraising Makes For Buying Opportunity Summary Karuna Therapeutics IPO in July '19 raised $102.6m at list price of $16.00. Company focused on developing novel therapeutics to treat disabling neuropsychiatric conditions such as schizophrenia and Alzheimers. This month, lead drug candidate KarXT returned positive Phase 2 clinical trial results causing stock price to soar above $124. Karuna has just announced a stock offering at $96 per share to raise $250m, causing stock price to decline to $79. Nothing is certain when it comes to early stage drug development and field is crowded, but this could be the best price we'll see for Karuna stock for a while. Investment Thesis With the benefit of hindsight, the optimal time to have bought Karuna would have been any time between its IPO in June this year and before the results of its recent phase II clinical trials were announced. The company met its primary endpoint in trials of its flagship drug KarXT for treatment of a
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KRTX
News
- PureTech Proposes $100 Million Capital Return [Yahoo! Finance]Yahoo! Finance
- Bristol Myers Squibb Completes Acquisition of PureTech's Founded Entity Karuna Therapeutics for $14 Billion [Yahoo! Finance]Yahoo! Finance
- Loss-Making Karuna Therapeutics, Inc. (NASDAQ:KRTX) Expected To Breakeven In The Medium-Term [Yahoo! Finance]Yahoo! Finance
- Sofinnova Investments Appoints Troy Ignelzi as Executive Advisor [Yahoo! Finance]Yahoo! Finance
- Bronte Amalthea Fund Incurred Loss in Karuna Therapeutics (KRTX) Short Position [Yahoo! Finance]Yahoo! Finance
KRTX
Earnings
- 2/22/24 - Miss
KRTX
Sec Filings
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- KRTX's page on the SEC website