Capricor Therapeutics is poised to release information on a “HOPE-2” clinical trial evaluating a product called CAP-1002 that has potential to treat muscular conditions.
SeekingAlpha reports the nano cap pharmaceutical stock is going to present information on this drug to treat Duchenne Muscular Dystrophy at the International Congress of the World Muscle Society in Copenhagen, Denmark October 5.
On this news, the equity is up 25% premarket this morning on enthusiasm over the potential of the talk to unveil concrete health benefits.
“Recently, we announced positive top-line interim results from the HOPE-2 clinical trial, and we are looking forward to sharing additional data from this exciting trial at the World Muscle Society.” said Linda Marbán, Capricor’s president and chief executive officer, in a recent press statement. “There is a major unmet need for new therapies that address the consequences of DMD in the later stages of the disease. … We continue to discuss the clinical development of CAP-1002 for DMD with the U.S. Food and Drug Administration and look forward to sharing those updates as they become available.”
Meanwhile, some analysts are looking positively at this equity.
“Checking in on the short-term signals on Capricor Therapeutics, Inc. (CAPR), we note that the current 7-day average directional indicator is Buy,” writes Barry Coles at the Glenrock Gazette today. “This signal may be used to determine the market trend. The 7-day directional strength is Weak . This trend strength indicator measures the signal based on historical performance where minimum would represent the weakest, and maximum would indicate the strongest.”
In premarket trading this morning, CAPR has reached well over the $3.00 mark, which represents a 25% hike from prior close at $2.72.
Over the month, CAPR has sunk from three dollars down to a low of $2.38 August 30 before climbing through the first half of this month.
This is balanced against 52-week highs of $11.90 and 52-week lows of $2.30. Watch for CAPR to make moves throughout the trading day.