CAPR stock is moving up big as Capricor Therapeutics Inc (NASDAQ:CAPR) announces positive data in a rare disease indication.
Big News for Capricor
California-based Capricor Therapeutics has been one of the biggest gainers today after the company released positive results from the trial of its medicine CAP-1002, which is meant for the treatment of Duchenne muscular dystrophy.
It goes without saying that it is a highly promising development for Capricor and one that could propel the company into greater heights. The trial in question is known as a HOPE-2 trial and is regarded as a good indicator of the viability of any medicine. The test gathered data from the last six months of the trial, and the results showed that there had been a statistically significant improvement in the patients. Such positive data is sure to cause a lot of optimism among investors, and it is not a surprise that Capricor’s stock has gone on a highly impressive run this morning.
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The development was cheered on by the market as well, as the volume rose during active trading on Monday and CAPR stock zoomed by as much as 140% at $7.70. The usual average daily volume of CAPT stock is 56,000 shares, but on Monday morning the volume rose to 26.34 million shares in pre-market trading. The stock made a new high of $8.85 for this year.
HOPE-2 trials are placebo-controlled and completely randomized as well as double-blind, which is why the results from this particular test when running over a large data set are taken seriously by the pharmaceutical community. The patients who volunteered for the study had been administered with CAP-1002 medicine through intravenous delivery.
Craig McDonald, who was the principal investigator of this HOPE-2 trial, seemed particularly optimistic about the medicine in question. He stated that the patients who volunteered for the trial had no other option but CAP-1002, and he hopes that with time, this medicine becomes an important option for the treatment of Duchenne muscular dystrophy.
The last three months have not been particularly great for the company as CAPR stock lost as much as 42.6% in value during the period until close on last Friday. So where will things go from here? Only time can tell.
Featured image: DepositPhotos © VitalikRadko
