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KRTX - Karuna Therapeutics: Fundraising Makes For Buying Opportunity
Karuna Therapeutics Inc.
Investment Thesis
With the benefit of hindsight, the optimal time to have bought Karuna would have been any time between its IPO in June this year and before the results of its recent phase II clinical trials were announced. The company met its primary endpoint in trials of its flagship drug KarXT for treatment of acute psychosis in patients with schizophrenia, causing Karuna's share price to rocket from around $18.50 to just above $137; a 641% increase.
The company has decided to make hay while the sun shines and announce a stock offering at $96