Karuna Therapeutics IPO – What you need to know

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Karuna Therapeutics, innovative clinical-stage Biopharmaceutical Company, filed for an IPO with NASDAQ under the symbol “KRTX”.

Karuna Therapeutics offering 4.4 million shares at a price range of $15.00 – $17.00.

Manager and Joint Manager- Goldman Sachs, Citigroup, Wells Fargo Securities. Wedbush PacGrow act as co-managers. The IPO is expected to price on June 28, 2019.

The Business

Karuna Therapeutics an innovative clinical-stage bio pharmaceutical company primarily focused on developing novel therapies to address disabling neuropsychiatric conditions characterized by significant unmet medical need. Our pipeline is built on the broad therapeutic potential of our lead product candidate, KarXT, an oral modulator of muscarinic receptors that are located both in the central nervous system, or CNS, and various peripheral tissues. KarXT is our proprietary product candidate that combines xanomeline, a novel muscarinic agonist, with trospium, an approved muscarinic antagonist, to preferentially stimulate muscarinic receptors in the CNS. We are currently conducting a Phase 2 clinical trial of KarXT for the treatment of acute psychosis in patients with schizophrenia and expect topline results in late 2019.

The IPO is expected to trade on NASDAQ on June 28, 2019

Featured photo credit to internet