Karuna's 600% rise reflects schizophrenia study excitement

20 November 2019

Shares in US biopharma Karuna Therapeutics (Nasdaq: KRTX) gained nearly 600% in the first half of the week’s trading.

On Monday, the company announced results from its Phase II trial of KarXT in acute psychosis in patients with schizophrenia, and the study showed a statistically-significant and clinically-meaningful 11.6 point mean reduction in total positive and negative syndrome scale (PANSS) score compared to placebo.

KarXT also met the study’s secondary endpoints and demonstrated good overall tolerability, with similar discontinuation rates between KarXT and placebo.

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