By Kuldip K. Ambastha and Anil K. Ambastha
Karuna Therapeutics Inc. (KRTX), a clinical-stage biopharmaceutical company, was founded in 2009 and is headquartered in Boston, MA. The company is focused on developing innovative therapies for individuals suffering from disabilities, disorders, and pain. Karuna Therapeutics Inc. has announced that its schizophrenia treatment’s Phase 2 clinical trial was successful. The treatment, KarXT, showed a significant and meaningful reduction in the acute psychosis of schizophrenia patients, and also was well-tolerated by trial participants. A Phase 3 clinical trial of KarXT will likely start by the end of 2020. Karuna Therapeutics Inc. had its IPO on Friday, June 28, 2019. On Monday, November 18, 2019, Karuna Therapeutics Inc.’s stock gained 443.0% for the day due to the news around KarXT. On Tuesday, November 19, 2019, KRTX stock advanced by another 29.1%. Overall, KRTX stock ended the week on Friday, November 22, 2019 being 380.8% higher than its stock price the prior Friday at the close of the market.
Keywords – Karuna Therapeutics Inc., KRTX, clinical-stage, biopharmaceutical, Boston, MA, Massachusetts, Commonwealth of Massachusetts, The Bay State, New England, East Coast, innovation, disabilities, disorders, pain, psychosis, schizophrenia, treatment, Phase 2, Phase 3, KarXT, IPO.
Disclosure – The principals and clients of Ambastha Financial LLC do not have any positions in KRTX.
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