Capricor Therapeutics Inc (NASDAQ:CAPR)
Beverly Hills, CA-based Capricor Therapeutics Inc (NASDAQ:CAPR) saw its share volumes explode tofay. The micro-cap biotechnology company has a 30-day average daily share volume of just 68,450 but by 1:30 PM EST over three million shares had traded based on an announcement by the company that top-line results from a safety and efficacy trial were positive. CAPR shares are up over 5% on the news.
Capricor Therapeutics Inc (NASDAQ:CAPR) lead drug candidate is CAP-1002 – an “off the shelf” cell therapy. This drug is in development for the treatment of heart disease associated with Duchenne muscular dystrophy (DMD) and adult cardiac conditions. Capricor’s technology had an early and powerful beginning. In their CADUCEUS clinical trial, a single administration of the drug showed significant reductions in the size of the scar that has resulted from a heart attack. Also observed were significant increases in the muscle mass of the affected area.
This morning, Capricor Therapeutics Inc (NASDAQ:CAPR)announced positive top-line results from a safety and efficacy analysis of six months’ worth of data generated from a randomized Phase 1/2 HOPE clinical trial of CAP-1002 for the treatment of patients afflicted with DMD. The single-dose trial was conducted using three health care centers and 25 patients who all are experiencing advanced cardiac disease. Those patients treated with CAP-1002 showed statistically significant improvement when compared to normal care controls in terms of cardiac and upper limb functionality. Importantly, these results corroborate pre-clinical data. Capricor Therapeutics Inc (NASDAQ:CAPR) plans to meet with the U.S. Food and Drug Administration (FDA) and request the designation of a Breakthrough Therapy or a Regenerative Medicine Advanced Technology (RMAT).
Capricor Therapeutics Inc (NASDAQ:CAPR) shareholders have seen better days. The stock is now trading above $3 and was stuck below $5 for most of the past 1 ½ years. Recently institutional investors have slashed their positions by over 34% but shares held by other insiders have held firm. While CAPR shares are up over 16% YTD, they are down over 23% for the year.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.