Shares of Capricor Therapeutics (CAPR) were gaining by 11.65% to $3.46 on heavy trading volume Tuesday morning, after the clinical-stage biotechnology company reported positive results from its randomized phase I/II HOPE clinical trial in Duchenne Muscular Dystrophy.
The positive top-line results from a safety and exploratory efficacy analysis of six months of data from the randomized 12-month trial shows the CAP-1002 product as an investigational candidate for the treatment of patients with DMD.
DMD is a rare, life threatening disease for which there is little treatment, the company said.
"In HOPE, we saw potential effects in both the heart and skeletal muscle that appear quite compelling in an exploratory trial. These results clearly support the conduct of a confirmatory clinical trial in DMD to further evaluate the potential of CAP-1002. We look forward to an effective medication becoming available for people with this progressive and fatal disease, one that is poorly met by current options," John L. Jefferies, M.D. and the principal investigator of the HOPE trial said.
(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)
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Capricor Therapeutics Stock Surging on Positive Muscular Dystrophy Trial Results - TheStreet.com
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