Trial analysis catastrophic for Capricor

The share value of USA-based Capricor Therapeutics (Nasdaq: CAPR) was worth 62% less at Friday’s close than it was a day earlier after the announcement of a disastrous trial analysis on its lead candidate, CAP-1002.

Capricor, which was trading at just $1.16 by Friday evening, plans to reduce the scope of its operations, including the size of its workforce, in order to now focus its financial resources primarily on its Duchenne muscular dystrophy (DMD) program.

A pre-specified administrative interim analysis was performed on six-month follow-up data from the ALLSTAR Trial, an ongoing randomized, double-blind, placebo-controlled, 142-patient Phase II clinical trial of CAP-1002 (allogeneic cardiosphere-derived cells) in adults who have experienced a large heart attack with residual cardiac dysfunction.