Capricor Therapeutics Inc. (CAPR) stock prices were down by 4% some time after market trading commenced on August 13th 2021. This brought the price per share down to USD$4.30 early on in the trading day.
CAPR Stock’s CAP-1002
The second quarter of fiscal 2021 saw CAPR stock report productive progress across the business ahead of a planned busy second half of 2021. The company reported a clear path forward for CAP-1002 for DMD as it prepares to initiate a pivotal study later in 2021. The final data has been submitted for publication, showing the significant impact of CAP-1002 on skeletal and cardiac muscle function in late-stage DMD patients. This is believed to further support the clinical path to potential approval.
Expanded Workforce
The positive momentum generated by the program has served to continue the advancement of the company’s partnering discussions. Furthermore, CAPR stock has made progress in its exosome program with the expansion of the team of seasoned biotech leaders. The team serves to bring a plethora of experience in engineering exosomes for therapeutic use. The company is now moving its multivalent exosome-mRNA vaccine towards the clinic. It is designed to be a booster to supplement currently available vaccines.
CAPR Stock Addressing Covid-19 Efforts
CAPR stock believes that their multiple protein approach has the potential to confer increased immunity protection against different strains of the Covid-19 virus. The quarter also saw the company ramp up enrollment for its INSPIRE clinical trial for the treatment of severe Covid-19 patients. This is a welcome development with the emerging prevalence of the Delta variant of the coronavirus, with top-line data expected to be shared in the near future.
Additional Financials
The company’s primary sources of revenue were generated from collaborative payments via clinical trial arrangements and grant awards. The three-month period ended June 30th, 2021 saw CAPR stock report USD$200,000 in revenue. This is up from the USD$50,000 reported as of June 30th, 2020. As of June 30th, 2021, the company reported cash and cash equivalents in the amount of USD$38.1 million.
Future Outlook for CAPR
CAPR stock reported promising developments over the course of the second quarter of fiscal 2021. The company is keen to leverage the resources at its disposal to ensure the continued trajectory of its success. Investors are hopeful for significant and sustained increases in shareholder value.
