This week, the stock price of Capricor Therapeutics is pretty volatile; the previous close was $2.8300, and currently, in pre-market trading sessions, it is rising by over 8%. Today, Capricor Therapeutics, a biotechnology company, is officially partnering with Nippon Shinyaku Co., Ltd., a Japanese pharma company. The purpose of the partnerships is for CAP-1002, which is a Capricor lead asset, for the treatment of Duchenne muscular dystrophy. By the way, DMD is an uncommon neuromuscular illness with few choices for treatment.
As I mentioned above, Capricor Therapeutics is now preparing to enter a phase 3 study of CAP-1002 in Duchenne, and it is expecting to receive over 30 million dollars upfront payment. However, if the FDA approves Capricor’s CAP-1002 for commercial use, the company will receive about $705 million in milestone payments. Hence, Nippon will promote the distribution of CAP-1002 in the USA. The company also plans to expand treatment in Europe and Asia, according to Linda Marban, CEO, and following this, Capricor is looking for partners. The Japanese pharmaceutical company has FDA approval for Viltepso, which was received in August 2020.