KRTX - Karuna pulls guidance for late-stage trial in Ukraine after Russia invasion

Clinical-stage biotech, Karuna Therapeutics (KRTX -10.0%) is trading sharply lower on Thursday after the company withdrew its timeline for a key data readout for a late-stage trial citing the Russian attacks on Ukraine. Previously, Karuna (NASDAQ:KRTX) indicated that the topline data from its EMERGENT-3 trial for KarXT in schizophrenia is expected in second half of this year. “At this time, the escalating conflict in Ukraine has created uncertainty around the Company’s ability to project the timing of topline data from this trial,” the company said in a regulatory filing a short while ago. The trial is currently underway in the U.S. and Ukraine involving 246 adults with schizophrenia in the U.S. and Ukraine. While enrollment in the U.S. is ongoing, due to the prevailing situation the company is monitoring the sites and operations in in Ukraine and expects to provide an update as appropriate.

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Karuna pulls guidance for late-stage trial in Ukraine after Russia invasion