We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Karuna (KRTX) to Obtain Global Rights to Goldfinch's Candidates
Read MoreHide Full Article
Karuna Therapeutics, Inc. announced a definitive agreement with Goldfinch Bio assignment estate to acquire global development, manufacturing and commercialization rights to the latter's transient receptor potential canonical 4 and 5 (TRPC4/5) channel candidates. The agreement also includes Goldfinch’s lead clinical-stage candidate, GFB-887.
Per management, the need for new and better treatment for psychiatry, like mood and anxiety disorders and neurological conditions, could be addressed by the TRPC4/5 mechanism, commencing with GFB-887. Karuna is yet to develop a planned course of action for the candidate but details are expected in the second half of 2023.
In the past year, shares of Karuna therapeutics have shot up 78.8% against the industry’s decline of 8.7%.
Image Source: Zacks Investment Research
Per the terms of the agreement, Goldfinch Bio assignment estate is entitled to an upfront payment of $15 million with up to $520 million upon milestone achievements like regulatory approval, commercial sales milestones and royalty on any potential global net sales of each licensed product.
Goldfinch Bio’s management announced that GFB-887 had previously reported positive preliminary data from its ongoing phase II study to evaluate GFB-887 for the treatment of Focal Segmental Glomerulosclerosis and diabetic nephropathy. The result showed a statistically significant reduction in Urine Protein Creatinine Ratio.
Currently, the only candidate in Karuna Therapeutics’ pipeline undergoing clinical development, KarXT is being evaluated in multiple late-stage studies as a potential treatment of psychosis in adults with schizophrenia. In August 2022, Karuna reported positive topline data from its phase III EMERGENT-2 study on adults with schizophrenia. The study met its primary endpoint by exhibiting a statistically significant and clinically meaningful reduction in the Positive and Negative Syndrome Scale (PANSS) total score compared to placebo. PANSS is a scale for measuring schizophrenia symptom severity. The study also met its secondary endpoint by demonstrating a statistically significant reduction in both positive and negative symptoms of schizophrenia.
Karuna Therapeutics also started the phase III ADEPT program on KarXT as a potential treatment of psychosis in Alzheimer’s disease in the third quarter of 2022.
In the past 90 days, the Zacks Consensus Estimate for 89BIO’s 2022 loss per share has narrowed from $3.34 to $2.65. During the same period, the loss estimate per share for 2023 has narrowed from $3.59 to $2.59. In the past year, shares of 89BIO have risen 142.9%.
ETNB beat estimates in three out of the last four quarters, delivering an average earnings surprise of 10.08%.
In the past 90 days, the estimate for Adicet Bio’s 2022 loss per share has narrowed from $1.63 to $1.54. During the same period, the loss estimate per share for 2023 has narrowed from $2.25 to $2.09. In the past year, shares of Adicet have decreased 26.8%.
ACET’s earnings beat estimates in two of the trailing four quarters, delivering an average earnings surprise of 54.24%.
In the past 90 days, the consensus estimate for ADMA Biologics’ 2022 loss per share has narrowed from 34 cents to 33 cents. During the same period, the loss estimate per share for 2023 has narrowed from 20 cents to 19 cents. In the past year, shares of Adicet have decreased 137.5%.
ADMA’s earnings beat estimates in three of the trailing four quarters, delivering an average earnings surprise of 1.81%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Karuna (KRTX) to Obtain Global Rights to Goldfinch's Candidates
Karuna Therapeutics, Inc. announced a definitive agreement with Goldfinch Bio assignment estate to acquire global development, manufacturing and commercialization rights to the latter's transient receptor potential canonical 4 and 5 (TRPC4/5) channel candidates. The agreement also includes Goldfinch’s lead clinical-stage candidate, GFB-887.
Per management, the need for new and better treatment for psychiatry, like mood and anxiety disorders and neurological conditions, could be addressed by the TRPC4/5 mechanism, commencing with GFB-887. Karuna is yet to develop a planned course of action for the candidate but details are expected in the second half of 2023.
In the past year, shares of Karuna therapeutics have shot up 78.8% against the industry’s decline of 8.7%.
Image Source: Zacks Investment Research
Per the terms of the agreement, Goldfinch Bio assignment estate is entitled to an upfront payment of $15 million with up to $520 million upon milestone achievements like regulatory approval, commercial sales milestones and royalty on any potential global net sales of each licensed product.
Goldfinch Bio’s management announced that GFB-887 had previously reported positive preliminary data from its ongoing phase II study to evaluate GFB-887 for the treatment of Focal Segmental Glomerulosclerosis and diabetic nephropathy. The result showed a statistically significant reduction in Urine Protein Creatinine Ratio.
Currently, the only candidate in Karuna Therapeutics’ pipeline undergoing clinical development, KarXT is being evaluated in multiple late-stage studies as a potential treatment of psychosis in adults with schizophrenia. In August 2022, Karuna reported positive topline data from its phase III EMERGENT-2 study on adults with schizophrenia. The study met its primary endpoint by exhibiting a statistically significant and clinically meaningful reduction in the Positive and Negative Syndrome Scale (PANSS) total score compared to placebo. PANSS is a scale for measuring schizophrenia symptom severity. The study also met its secondary endpoint by demonstrating a statistically significant reduction in both positive and negative symptoms of schizophrenia.
Karuna Therapeutics also started the phase III ADEPT program on KarXT as a potential treatment of psychosis in Alzheimer’s disease in the third quarter of 2022.
Karuna Therapeutics, Inc. Price and Consensus
Karuna Therapeutics, Inc. price-consensus-chart | Karuna Therapeutics, Inc. Quote
Zacks Rank and Stocks to Consider
Karuna Therapeutics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same industry are 89BIO, Inc. (ETNB - Free Report) , Adicet Bio, Inc. (ACET - Free Report) and ADMA Biologics, Inc. (ADMA - Free Report) , all carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for 89BIO’s 2022 loss per share has narrowed from $3.34 to $2.65. During the same period, the loss estimate per share for 2023 has narrowed from $3.59 to $2.59. In the past year, shares of 89BIO have risen 142.9%.
ETNB beat estimates in three out of the last four quarters, delivering an average earnings surprise of 10.08%.
In the past 90 days, the estimate for Adicet Bio’s 2022 loss per share has narrowed from $1.63 to $1.54. During the same period, the loss estimate per share for 2023 has narrowed from $2.25 to $2.09. In the past year, shares of Adicet have decreased 26.8%.
ACET’s earnings beat estimates in two of the trailing four quarters, delivering an average earnings surprise of 54.24%.
In the past 90 days, the consensus estimate for ADMA Biologics’ 2022 loss per share has narrowed from 34 cents to 33 cents. During the same period, the loss estimate per share for 2023 has narrowed from 20 cents to 19 cents. In the past year, shares of Adicet have decreased 137.5%.
ADMA’s earnings beat estimates in three of the trailing four quarters, delivering an average earnings surprise of 1.81%.