Karuna Therapeutics, Inc. - KRTX STOCK NEWS

Karuna Therapeutics (NASDAQ: KRTX) announced presentations at upcoming virtual investor conferences to discuss their innovative treatments for psychiatric and neurological conditions. Key events include the Oppenheimer 32nd Annual Healthcare Conference on March 15, 2022, the 1st Annual Needham Virtual Neuroscience Forum on March 16, 2022, and the Stifel 2022 CNS Days on March 28, 2022, with respective times at 9:20 a.m. ET, 11:00 a.m. ET, and 1:30 p.m. ET.

A live webcast of these events will be available on their website.

Karuna Therapeutics (NASDAQ: KRTX) reported a net loss of $28.0 million for Q4 2021 and $143.8 million for the full year, significantly up from $24.0 million and $68.6 million the previous year. R&D expenses surged to $128.2 million, driven by enrollment in Phase 3 EMERGENT trials and preparations for a New Drug Application (NDA) for KarXT. The company has $494.0 million in cash to support operations over the next 12 months, and it plans to initiate a Phase 3 program for psychosis in Alzheimer’s disease in mid-2022, with topline data from EMERGENT trials expected soon.

Karuna Therapeutics, Inc. (NASDAQ: KRTX) announced its participation in the SVB Leerink 11th Annual Global Healthcare Conference on February 17, 2022, at 10:00 a.m. ET. The event will feature senior management discussions aimed at showcasing the company's innovative approach to developing treatments for psychiatric and neurological conditions. Interested parties can access a live webcast of the presentation on the company’s Investor Relations page, with a replay available for 30 days post-conference.

Karuna Therapeutics, Inc. (NASDAQ: KRTX) has announced that CEO Dr. Steve Paul will present at the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022, at 8:15 a.m. ET. A live webcast of the presentation will be accessible on the Investor Relations page of Karuna’s website, with an archived replay available for 30 days post-event. The company focuses on developing transformative medicines for psychiatric and neurological disorders, leveraging advanced neuroscience for innovative treatment solutions.

Karuna Therapeutics (NASDAQ: KRTX) announced the appointment of Charmaine Lykins as chief commercial officer, effective November 29, 2021. This leadership change comes at a critical moment as the company advances multiple late-stage clinical trials for KarXT, a novel treatment for schizophrenia and other neuropsychiatric conditions. Lykins brings over 25 years of experience in psychiatry and neuroscience, having previously held senior positions at major pharmaceutical companies. Her expertise is expected to strengthen Karuna's commercial strategy as they transition into a commercial-stage company.

Zai Lab has secured exclusive rights to develop and commercialize KarXT (xanomeline-trospium) in Greater China, including mainland China, Hong Kong, Macau, and Taiwan. The agreement entails an upfront payment of $35 million to Karuna Therapeutics and potential milestone payments up to $152 million. Zai Lab will undertake the development and commercialization efforts, with tiered royalties on net sales. KarXT targets psychiatric conditions, showing promising results in late-stage trials for schizophrenia and Alzheimer's-related psychosis.

Zai Lab has secured exclusive rights to develop and commercialize KarXT in Greater China, with a total deal value exceeding $267 million. Karuna Therapeutics will receive an upfront payment of $35 million along with potential milestone payments of up to $152 million and tiered royalties. KarXT has shown promising results in treating schizophrenia and Alzheimer’s-related psychosis, with ongoing late-stage trials. Zai Lab will oversee development and commercialization efforts in the region.

Karuna Therapeutics (NASDAQ: KRTX), a biopharmaceutical company focused on treatments for psychiatric and neurological conditions, announced participation in virtual investor conferences. Management will present at the Guggenheim 3rd Annual Neuro/Immunology Conference on November 15, 2021 at 11:00 a.m. ET, and at the Stifel 2021 Virtual Healthcare Conference on November 16, 2021 at 10:40 a.m. ET. Webcasts for both events will be available on their Investor Relations page.

Karuna Therapeutics (NASDAQ: KRTX) reported a net loss of $50.9 million for Q3 2021, up from $18.8 million in Q3 2020, primarily due to increased R&D costs for Phase 3 EMERGENT trials and higher employee expenses. Research and development expenses rose to $38.8 million, while general and administrative expenses increased to $12.4 million. The company ended the quarter with $498.9 million in cash, sufficient to fund operations for over 12 months. Upcoming milestones include topline data from EMERGENT-2 and EMERGENT-3 trials expected in mid-2022 and late 2022, respectively.