May 12, 2017 5:42pm
Shares of CAPR closed down - $1.89 or -62% to $1.16 and is now laying-off employees following the failure of its mid-stage cardiovascular drug trial while the controversial CEO remains at the helm ...
Shares of Capricor fell -$1.89 per share to close at $1.16 having closed Thursday at $3.05 in wake of the reported failure of its P2 Allstar trial.
The 142-patient trial was assessing the efficacy of CAP-1002 (allogeneic cardiosphere-derived cells) in adults who have experienced a large heart attack with residual cardiac dysfunction. In its Thursday announcement, Capricor said the mid stage trial demonstrated a low probability of achieving a statistically-significant difference in the 12-month primary efficacy endpoint of percent change from baseline infarct size.
Bottom Line: Capricor performed a six-month data test and discovered there was NO notable difference between the patients who received the treatment and those who received a placebo especially with respect to the change in ejection fraction. They can KISS the Jansen (J&J) deal good-bye! CAPR will focus on CAP-1002 in in boys and young men with Duchenne muscular dystrophy (DMD).
A change in management is needed. CAPR should kiss the new investors in the latest <last week> $3.7 M private placement priced at $3.10 which closed on 5/10/17 as CAPR’s share pricing tanked.
I see a $1.00 in the close future …