Amid Russia's Invasion On Ukraine, Karuna Therapeutics Withdraws Guidance On Late-Stage Schizophrenia Trial

  • According to an SEC filingKaruna Therapeutics Inc KRTX is withdrawing its prior guidance for the timing of topline data for its Phase 3 EMERGENT-3 trial evaluating KarXT in schizophrenia. 
  • The Company had expected topline data from the EMERGENT-3 trial in 2H of 2022.
  • At this time, the escalating conflict in Ukraine has created uncertainty around the Company's ability to project the timing of topline data from this trial.
  •  The Company is actively monitoring the evolving geopolitical situation between Ukraine and Russia and the impact on clinical trial sites and operations. 
  • Karuna continues to enroll and treat patients in the EMERGENT clinical program and will provide updates on its sites and operations in Ukraine, as appropriate. 
  • The Company reported an EPS loss of $(0.94) for Q4 FY21, compared to $(0.89) a year ago.
  • It ended 2021 with $494.0 million in cash, cash equivalents, and available-for-sale investment securities.
  • Price Action: KRTX shares are down 6.81% at $98.01 during the market session on the last check Thursday.

Posted In: Phase 3 TrialSchizophreniaBiotechEarningsNewsHealth CareMoversTrading IdeasGeneral

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