Karuna Therapeutics, Inc., a clinical-stage biopharmaceutical company, creates and delivers transformative medicines for people living with psychiatric and neurological conditions. Its lead product candidate is KarXT, an oral modulator of muscarinic receptors that has completed Phase II clinical trial for the treatment of acute psychosis in patients with schizophrenia; and in Phase Ib clinical trial for the treatment of central nervous system disorders, such as negative and cognitive symptoms of schizophrenia and psychosis, as well as for the treatment of dementia-related psychosis. The company also focuses on developing other muscarinic-targeted drug candidates. Karuna Therapeutics, Inc. has a license agreement with Eli Lilly and Company; patent license agreement with PureTech Health LLC; and drug discovery partnership with Charles River Laboratories, as well as drug discovery collaboration with PsychoGenics, Inc. The company was formerly known as Karuna Pharmaceuticals, Inc. and changed its name to Karuna Therapeutics, Inc. in March 2019. Karuna Therapeutics, Inc. was incorporated in 2009 and is headquartered in Boston, Massachusetts.
IPO Year: 2019
Exchange: NASDAQ
Website: karunatx.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/12/2023 | $291.00 | Buy | Citigroup |
| 12/12/2023 | $227.00 | Buy | Deutsche Bank |
| 8/22/2023 | $225.00 | Overweight | Wells Fargo |
| 7/20/2023 | $280.00 | Overweight | Morgan Stanley |
| 3/8/2023 | $214.00 | Neutral | Cantor Fitzgerald |
| 1/27/2023 | $209.00 | Neutral | UBS |
| 1/5/2023 | $285.00 | Overweight | Piper Sandler |
| 11/1/2022 | $288.00 | Buy | Loop Capital |
| 7/14/2022 | $170.00 | Outperform | SVB Leerink |
| 3/31/2022 | $190.00 | Buy | Berenberg |
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Citigroup initiated coverage of Karuna Therapeutics with a rating of Buy and set a new price target of $291.00
Deutsche Bank initiated coverage of Karuna Therapeutics with a rating of Buy and set a new price target of $227.00
Wells Fargo initiated coverage of Karuna Therapeutics with a rating of Overweight and set a new price target of $225.00
Morgan Stanley initiated coverage of Karuna Therapeutics with a rating of Overweight and set a new price target of $280.00
Cantor Fitzgerald initiated coverage of Karuna Therapeutics with a rating of Neutral and set a new price target of $214.00
UBS initiated coverage of Karuna Therapeutics with a rating of Neutral and set a new price target of $209.00
Piper Sandler initiated coverage of Karuna Therapeutics with a rating of Overweight and set a new price target of $285.00
Loop Capital initiated coverage of Karuna Therapeutics with a rating of Buy and set a new price target of $288.00
SVB Leerink initiated coverage of Karuna Therapeutics with a rating of Outperform and set a new price target of $170.00
Berenberg initiated coverage of Karuna Therapeutics with a rating of Buy and set a new price target of $190.00
Significant operational and clinical progress in 2023 and early 2024 with maturation of Internal Programs,1 launch of two new Founded Entities,2 including a $100 million Series A financing for Seaport, and the $14 billion acquisition of Karuna by Bristol Myers Squibb Robust balance sheet with PureTech level cash, cash equivalents and short-term investments of $326.0 million3 and consolidated cash, cash equivalents and short-term Investments of $327.1 million4 as of December 31, 2023 As of March 31, 2024, PureTech level cash, cash equivalents and short-term investments were $573.3 million,5 enabling the support of Internal Programs and Founded Entities, future innovations, shareholder re
New Drug Application (NDA) for KarXT for the treatment of schizophrenia in adults under review with a Prescription Drug User Fee Act (PDUFA) action date of September 26, 2024 Results from the Phase 3 EMERGENT-2 trial of KarXT in schizophrenia published in The Lancet Announced appointments of Andrew Miller, Ph.D. as President of Research and Development and Mia Kelley, J.D. as General Counsel Previously announced proposed acquisition of Karuna by Bristol Myers Squibb expected to close in the first half of 2024 $1.3 billion in cash, cash equivalents, and available-for-sale investment securities Karuna Therapeutics, Inc. (NASDAQ:KRTX), a biopharmaceutical company driven to discover,
Transaction Delivers KarXT, a First-in-Class M1 / M4 Muscarinic Receptor Agonist, with Differentiated Efficacy and Safety KarXT Is a Potential First-in-Class Treatment for Schizophrenia and as an Adjunctive Therapy, and First-in-Disease Treatment for Alzheimer's Disease Psychosis, with Promise in Additional Neuropsychiatric and Neurodegenerative Indications KarXT Is Expected to Launch in the U.S. for the Treatment of Schizophrenia in Adults with a Prescription Drug User Fee Act Date of September 26, 2024 Bristol Myers Squibb to Host a Conference Call Today at 8:00 a.m. ET PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics c
Transaction Delivers KarXT, a First-in-Class M1 / M4 Muscarinic Receptor Agonist, with Differentiated Efficacy and Safety KarXT Is a Potential First-in-Class Treatment for Schizophrenia and as an Adjunctive Therapy, and First-in-Disease Treatment for Alzheimer's Disease Psychosis, with Promise in Additional Neuropsychiatric and Neurodegenerative Indications KarXT Is Expected to Launch in the U.S. for the Treatment of Schizophrenia in Adults with a Prescription Drug User Fee Act Date of September 26, 2024 Bristol Myers Squibb to Host a Conference Call Today at 8:00 a.m. ET Bristol Myers Squibb (NYSE:BMY) and Karuna Therapeutics, Inc. (NASDAQ:KRTX) ("Karuna") today announced that they
Strong strategic and clinical progress in 2023, with multiple catalysts expected in 2024 Launching of two new Founded Entities to advance certain programs from the Wholly Owned Pipeline Robust balance sheet position with estimated Consolidated Cash, Cash Equivalents and Short-Term Investments at year end of approximately $320 million1, extends operational runway guidance into 2027 PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today reports on the key progress made across its Wholly Owned Programs2 and Founded Entities3 in 2023, announces two n
KarXT demonstrated statistically significant and clinically meaningful improvements in positive and negative symptoms of schizophrenia compared to placebo, as measured by primary and secondary endpoints KarXT was generally well tolerated and not associated with many adverse events typically associated with current antipsychotics, including somnolence, weight gain and extrapyramidal symptoms New Drug Application for KarXT for the treatment of schizophrenia in adults was recently accepted with a Prescription Drug User Fee Act (PDUFA) action date of September 26, 2024 If approved, KarXT, a dual M1/M4 muscarinic agonist, would represent the first new pharmacological approach to treating s
Prescription Drug User Fee Act (PDUFA) action date is September 26, 2024 If approved, KarXT would represent the first new pharmacological approach to treating schizophrenia in several decades The application is supported by positive data from the EMERGENT clinical trial program showing KarXT is associated with significant improvements in schizophrenia symptoms PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company, noted today that its Founded Entity, Karuna Therapeutics, Inc. (NASDAQ:KRTX) ("Karuna") announced the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) for KarXT (xanomeline-tr
Prescription Drug User Fee Act (PDUFA) action date is September 26, 2024 If approved, KarXT would represent the first new pharmacological approach to treating schizophrenia in several decades The application is supported by positive data from the EMERGENT clinical trial program showing KarXT is associated with significant improvements in schizophrenia symptoms Karuna Therapeutics, Inc. (NASDAQ:KRTX), a biopharmaceutical company driven to discover, develop, and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) for KarXT (xanomeline-trosp
Results demonstrate KarXT was not associated with clinically meaningful increases in blood pressure in adults with schizophrenia KarXT demonstrated a mean change from baseline to week 8 in 24-hour ambulatory systolic blood pressure of -0.59 mmHg, the primary endpoint in the trial KarXT was generally well tolerated, with a side effect profile consistent with prior trials in the EMERGENT program evaluating KarXT in schizophrenia PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company, noted that its Founded Entity, Karuna Therapeutics (NASDAQ:KRTX), announced positive results from its Phase 1b open-label, eight-week inpatien
Results demonstrate KarXT was not associated with clinically meaningful increases in blood pressure in adults with schizophrenia KarXT demonstrated a mean change from baseline to week 8 in 24-hour ambulatory systolic blood pressure of -0.59 mmHg, the primary endpoint in the trial KarXT was generally well tolerated, with a side effect profile consistent with prior trials in the EMERGENT program evaluating KarXT in schizophrenia Karuna Therapeutics, Inc. (NASDAQ:KRTX), a biopharmaceutical company driven to discover, develop, and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced positive results from its Phase 1b open-label,
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Jonathan Rosin appointed to Chief Human Resources Officer Jason Brown promoted to Chief Financial Officer Karuna Therapeutics, Inc. (NASDAQ:KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced the appointment of Jonathan Rosin to Chief Human Resources Officer (CHRO) and the promotion of Jason Brown to Chief Financial Officer (CFO). Mr. Brown succeeds Troy Ignelzi, who will remain at Karuna for a transition period through the end of the third quarter of 2023. "These executive appointments are a key part of our transition to a fully integrated organization
Karuna Therapeutics, Inc. (NASDAQ:KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced the appointment of Will Kane as chief commercial officer (CCO), effective February 6, 2023. "The addition of Will to our executive team represents an important step as we execute on our plan to transition Karuna to a fully integrated R&D and commercial organization," said Bill Meury, president and chief executive officer, Karuna Therapeutics. "Will is an exceptional leader and has extensive commercial operations experience, which will be invaluable as we focus our attention o
Mr. Meury is a distinguished pharmaceutical leader with more than 25 years of operational and commercial experience delivering transformative medicines to patients Succeeds current president, chief executive officer, and chairman, Steve Paul, M.D., who will transition to president of research and development and chief scientific officer Christopher Coughlin to assume role of chairman of the board Karuna Therapeutics, Inc. (NASDAQ:KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced the appointment of Bill Meury as president and chief executive officer (CEO) a
Karuna Therapeutics, Inc. (NASDAQ:KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced the appointment of Charmaine Lykins as chief commercial officer, effective November 29, 2021. "We are pleased to welcome Charmaine to our leadership team at this pivotal time for Karuna," said Steve Paul, M.D., chief executive officer, president, and chairman of Karuna Therapeutics. "Charmaine is an incredibly accomplished leader who has dedicated her career to delivering medicines to people living with psychiatric and neurological conditions in the U.S. and globally. Her unp
BOSTON--(BUSINESS WIRE)--PureTech Health plc (LSE: PRTC, Nasdaq: PRTC) (“PureTech” or the “Company”), a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, today announces the appointment of Bharatt Chowrira, Ph.D., J.D., to its Board of Directors as an executive director. Dr. Chowrira has served as PureTech’s President and Chief of Business and Strategy since March 2017 and will continue in that role as an executive director of the Company. Dr. Chowrira’s appointment is effective from February 1, 2021. “Bharatt has made a big impact since joining PureTech in 2017 and he continue
BOSTON--(BUSINESS WIRE)--Karuna Therapeutics, Inc. (NASDAQ:KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced the appointment of Ronald Marcus, M.D., to Senior Vice President of Medical. In this role, Dr. Marcus will provide strategic and operational leadership of Karuna’s clinical stage pipeline of novel neuropsychiatric medicines, including KarXT. “We are pleased to welcome Ron to our clinical leadership team at this important time for Karuna,” said Steve Paul, M.D., chief executive officer, president and chairman. “Ron is an exceptionally experie
BOSTON--(BUSINESS WIRE)--Karuna Therapeutics, Inc. (NASDAQ: KRTX), an innovative clinical-stage biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with disabling and potentially fatal neuropsychiatric disorders, today announced the appointment of Denice Torres, J.D., to its Board of Directors effective December 22, 2020. “Denice is a highly respected leader with an exceptional ability to visualize and achieve operational success by identifying inherent strengths within organizations and fostering diverse and collaborative cultures,” said Steve Paul, M.D., chief executive officer, president and chairman of Karuna T
BOSTON--(BUSINESS WIRE)--Karuna Therapeutics, Inc. (NASDAQ: KRTX), an innovative clinical-stage biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with disabling and potentially fatal neuropsychiatric disorders, today announced the appointment of David Wheadon, M.D., to its Board of Directors. In addition, the Company announced that Ed Harrigan, M.D., will step down from the Board of Directors effective December 3, 2020. Dr. Harrigan will continue to serve as a member of the Company’s scientific advisory board. “We are thrilled to welcome David to our Board of Directors,” said Steve Paul, M.D., chief executive off
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Transaction Delivers KarXT, a First-in-Class M1 / M4 Muscarinic Receptor Agonist, with Differentiated Efficacy and Safety KarXT Is a Potential First-in-Class Treatment for Schizophrenia and as an Adjunctive Therapy, and First-in-Disease Treatment for Alzheimer's Disease Psychosis, with Promise in Additional Neuropsychiatric and Neurodegenerative Indications KarXT Is Expected to Launch in the U.S. for the Treatment of Schizophrenia in Adults with a Prescription Drug User Fee Act Date of September 26, 2024 Bristol Myers Squibb to Host a Conference Call Today at 8:00 a.m. ET PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics c
Transaction Delivers KarXT, a First-in-Class M1 / M4 Muscarinic Receptor Agonist, with Differentiated Efficacy and Safety KarXT Is a Potential First-in-Class Treatment for Schizophrenia and as an Adjunctive Therapy, and First-in-Disease Treatment for Alzheimer's Disease Psychosis, with Promise in Additional Neuropsychiatric and Neurodegenerative Indications KarXT Is Expected to Launch in the U.S. for the Treatment of Schizophrenia in Adults with a Prescription Drug User Fee Act Date of September 26, 2024 Bristol Myers Squibb to Host a Conference Call Today at 8:00 a.m. ET Bristol Myers Squibb (NYSE:BMY) and Karuna Therapeutics, Inc. (NASDAQ:KRTX) ("Karuna") today announced that they
Karuna Therapeutics, Inc. (NASDAQ:KRTX), a biopharmaceutical company driven to discover, develop, and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced that it will host a live conference call and webcast on Thursday, November 2, 2023 at 8:00 a.m. ET to review third quarter 2023 financial results and provide a general business update. A live webcast of the presentation will be available on the Investor Relations page of Karuna's website at investors.karunatx.com. A replay of the webcast will also be archived for up to 30 days on Karuna's website following the completion of the event. About Karuna Therapeutics Karuna Therapeu
Strong progression of PureTech's Wholly Owned Pipeline, with three clinical-stage therapeutic candidates being evaluated across four clinical trials to address large patient needs in pulmonary, oncology and CNS indications, and a growing pipeline of four additional preclinical CNS programs Advancements across Founded Entities, including Karuna's third positive registrational trial for KarXT and planned filing for FDA approval, Akili's commercial release of EndeavorOTCTM for adults with ADHD, Gelesis' application to make Plenity® available without a prescription, additional positive results from Vor's Phase 1/2a leukemia trial and Vedanta's $106.5 million financing PureTech plans to purs
Karuna Therapeutics, Inc. (NASDAQ:KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced that it will host a live conference call and webcast on Thursday, August 3, 2023 at 8:00 a.m. ET to review second quarter 2023 financial results and provide a general business update. A live webcast of the presentation will be available on the Investor Relations page of Karuna's website at investors.karunatx.com. A replay of the webcast will also be archived for up to 30 days on Karuna's website following the completion of the event. About Karuna Therapeutics Karuna Therap
Conference call and webcast to take place on Thursday, May 4, 2023 at 8:00 a.m. ET Karuna Therapeutics, Inc. (NASDAQ:KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced that it will host a live conference call and webcast on Thursday, May 4, 2023 at 8:00 a.m. ET to review first quarter 2023 financial results and provide a general business update. A live webcast of the presentation will be available on the Investor Relations page of Karuna's website at investors.karunatx.com. A replay of the webcast will also be archived for up to 30 days on Karuna's website
Third positive registrational trial met its primary endpoint, with KarXT demonstrating an 8.4-point reduction in PANSS total score compared to placebo at Week 5 (p<0.0001) KarXT was generally well tolerated, with a side effect profile substantially consistent with previous trials of KarXT in schizophrenia Company is on track to submit a New Drug Application (NDA) to the U.S. Food & Drug Administration (FDA) in mid-2023, with a potential launch in the second half of 2024, if approved Pre-NDA meeting is scheduled for early second quarter of 2023 Conference call and webcast to take place today at 8:00 a.m. ET Karuna Therapeutics, Inc. (NASDAQ:KRTX), a clinical-stage biopharmaceutical comp
Met primary and key secondary endpoints in Phase 3 EMERGENT-2 trial of KarXT in schizophrenia The Company plans to submit a New Drug Application (NDA) with the U.S. Food & Drug Administration (FDA) in mid-2023 Topline data from the Phase 3 EMERGENT-3 trial and Phase 3 ARISE trial of KarXT in schizophrenia expected in the first quarter of 2023 and first half of 2024, respectively Phase 3 ADEPT-1 trial of KarXT in psychosis related to Alzheimer's disease to initiate in the third quarter of 2022 $407.4 million in cash expected to fund operations for at least 12 months following the potential New Drug Application (NDA) submission of KarXT for schizophrenia Management to host conference cal
Trial met primary endpoint, with KarXT demonstrating a statistically significant 9.6-point reduction in PANSS Total Score compared to placebo at Week 5 (p<0.0001) Trial also met key secondary endpoints, demonstrating statistically significant reductions in positive and negative symptoms of schizophrenia, as measured by the PANSS positive, PANSS negative and PANSS negative Marder factor subscales KarXT was generally well tolerated, with a side effect profile substantially consistent with prior trials of KarXT in schizophrenia The Company plans to submit a New Drug Application (NDA) with the U.S. Food & Drug Administration (FDA) in mid-2023 Conference call and webcast to take place today
In addition to PureTech's advanced Wholly Owned Pipeline, Founded Entities are an additional source of value and Akili is now set to join the growing list of publicly-traded Founded Entities for PureTech, which also include Karuna Therapeutics (NASDAQ:KRTX), Vor Biopharma (NASDAQ:VOR) and Gelesis (NYSE:GLS) Fully committed PIPE of $162 million led by $100 million from Social Capital with remaining $62 million from new and existing investors including: Suvretta Capital Management's Averill strategy, Apeiron Investment Group, Temasek, co-founder PureTech Health, Polaris Partners, Evidity Health Capital, JAZZ Venture Partners and Omidyar Technology Ventures Transaction values the combined co