Stock Alert: Why Does Capricor Therapeutics’ Share Jump 252% Today?
Shares of the California-based biotech Capricor Therapeutics skyrocket by more than 252% on positive COVID-19 treatment data. A small study showed a survival rate of 100% in 6 COVID-19 patients treated with the company’s lead drug candidate CAP-1002.
Capricor’s lead drug candidate CAP-1002 is a cardiac-derived cell therapy which is under investigation as a potential treatment for patients with Duchenne muscular dystrophy. According to the biotech, 6 coronavirus-infected patients with respiratory distress syndrome hospitalized at Cedars-Sinai Medical Center fully recovered after a one-month treatment with CAP-1002. The company aims at getting more clarity on the efficacy of CAP-1002 by expanding treatment to 20 additional COVID-19 patients.
Although Capricor’s stock is trading at $8.50 (+252.70%) on the NASDAQ today, Biotech Investments does not recommend an investment at this point. The number of patients in the study is very low and a placebo group is missing, potentially affecting the meaningfulness of the trial results.
The full press release of Capricor Therapeutics can be read here.