BRIEF—Karuna launches public offering for $400 million

Psychiatric and neurologic condition specialist Karuna Therapeutics has announced a public stock offering, with the goal of raising $400 million.

Underwriters will also be granted a 30-day option to purchase an additional $60 million of stock.

Goldman Sachs, JP Morgan and Morgan Stanley are acting as joint book-running managers for the offering.

The firm also recently announced positive top-line results from the Phase III EMERGENT-3 trial of its lead investigational therapy, KarXT, in schizophrenia.