CAPR - Capricor stock rises 16% after update on muscular dystrophy treatment Q2 results

• Shares of Capricor Therapeutics ( NASDAQ: CAPR ) on Thursday gained 16% to $5.24, after the clinical-stage biotech announced an update on its lead drug candidate and reported Q2 results.
• San Diego, Calif.-based CAPR's lead candidate is a cardiac cell therapy called CAP-1002 which is currently in late-stage clinical development for the treatment of Duchenne muscular dystrophy (DMD), an inherited disorder of progressive muscular weakness.
• "...with the data generated to date, we believe CAP-1002 is positioned to become an anchor therapy for non-ambulant DMD patients," said CAPR CEO Linda Marban in the earnings report released after hours Wednesday.
• "...we are requesting a meeting with FDA later this year to discuss the best path forward with the objective of getting CAP-1002 to approval as quickly as possible," Marban added.
• The company in July said it had dosed the first patient in its phase 3 study of CAP-1002 for DMD.
• CAPR posted Q2 GAAP EPS of -$0.29, which missed estimates by $0.03 .
• The company expects its available cash and cash equivalents to be sufficient enough to cover expenses and capital requirements into Q2 2024.

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