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Mar 31, 2023
Capricor Q1 2023 Earnings Report
Capricor reported financial results for the first quarter ended March 31, 2023 and provided a corporate update
Key Takeaways
Capricor Therapeutics reported revenue of $3.0 million for the first quarter of 2023, compared to zero for the same period in 2022. The company's net loss was approximately $7.8 million, or $0.31 per share, for the first quarter of 2023, which is similar to the net loss of approximately $7.8 million, or $0.32 per share, for the first quarter of 2022.
Enrollment continues to progress in HOPE-3, the Phase 3 Clinical Trial of CAP-1002 in Duchenne Muscular Dystrophy (DMD); On track to report interim analysis in fourth quarter of 2023.
Plan to present 24-Month HOPE-2 Open Label Extension Data in Second Quarter of 2023.
Capricor received an upfront payment of $12.0 million from Nippon Shinyaku in accordance with its Japan Exclusive Commercialization and Distribution Agreement.
Company’s cash, cash equivalents and marketable securities totaled approximately $45.2 million as of March 31, 2023.
Forward Guidance
Capricor believes that its available cash, cash equivalents and marketable securities will be sufficient to cover anticipated expenses and capital requirements into the fourth quarter of 2024.
Positive Outlook
- Continue discussions with FDA regarding pathway towards BLA for CAP-1002 in DMD
- Plan to share additional feedback from FDA on the HOPE-3 clinical trial when available
- Plan to present 24-month follow-up data from HOPE-2 OLE in second quarter of 2023
- Expect to fully enroll the currently designed HOPE-3 trial by the second half of 2023
- Plan to report outcome from interim analysis of HOPE-3 in fourth quarter of 2023
Historical Earnings Impact
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Avg. Return Before/After Earnings
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