Capricor Therapeutics rises 12.8% after positive Duchenne drug data
Capricor Therapeutics shares rose 12.8% to $9.67 after 24-month open-label extension data from its Duchenne drug trial was presented at the World Muscle Society Congress. B. Riley Securities maintained a "buy" rating and $21 price target, stating the data strengthens the case for approval.
67 after B. Riley Securities said 24-month open-label extension data from the company's trial were in line with or better than its expectations. The brokerage said the data, presented at the World Muscle Society Congress in Hiroshima, Japan, add support for approval of deramiocel in Duchenne muscular dystrophy and strengthen the case for approval based on upper-limb function ahead of the FDA's November 22 target action date. B.
Riley kept its "buy" rating on the stock and a $21 price target. It said the FDA extended its review in August by three months after accepting additional 24-month data as a major amendment to Capricor's application. 6% year to date.