Capricor Therapeutics (CAPR) is up 26% in pre-market trading on news that the Data and Safety Monitoring Board has done a safety and futility analyses of a clinical trial for Capricor’s HOPE-2 drug aimed at treating advanced stages of Duchenne muscular dystrophy (DMD) in men and boys.
Earlier this month, CAPR went from $3.37 to $5.60 in pre-market trades the morning of July 15 – a 73% jump. That was based on preliminary analysis of the same treatment.
“Improvements in tip to tip pinch strength and grip strength were noted at month 6 compared to declines in the control group,” read a July 15 press release describing the efficacy of HOPE-2 in trials. “Upper limb function declined slightly, but the decline was less than control. Upper limb function improved slightly at month 3 but declined to month 6, however.”
In the current rally, CAPR seems to have potential to lift further.
“We are pleased with the DSMB’s recommendation to continue the HOPE-2 clinical trial and supports our understanding of the safety of CAP-1002 in the DMD patient population, which is an important step toward establishing a potential new treatment to help these boys. We look forward to sharing updates from the HOPE-2 trial in the coming months, including additional analyses and guidance from the FDA based on our ongoing discussions with the agency,” said Linda Marbán, president and CEO of Capricor, as quoted in Yahoo Finance.
More Capricor history shows previous declines as deliberate drug process moved slowly. Keep an eye on the stock in the days to come to see how much of a reversal the HOPE-2 progress puts on the equity.