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Sep 30, 2022
Capricor Q3 2022 Earnings Report
Capricor reported financial results for the third quarter ended September 30, 2022 and provided a corporate update.
Key Takeaways
Capricor Therapeutics reported revenue of $1.6 million and a net loss of $6.4 million, or $0.26 per share for the third quarter of 2022. As of September 30, 2022, the Company’s cash, cash equivalents and marketable securities totaled approximately $46.6 million.
Enrollment continues to progress in HOPE-3, the pivotal Phase 3 clinical trial of CAP-1002 in Duchenne Muscular Dystrophy.
Presented positive one-year safety and efficacy results from HOPE-2 open label extension study of CAP-1002 in Duchenne Muscular Dystrophy Patients at World Muscle Society 2022.
Presented new advances in engineered Exosome Platform at Exosome-Based Therapeutic Development Summit.
Capricor expects that its available cash, cash equivalents and marketable securities will be sufficient to cover anticipated expenses and capital requirements into the second quarter of 2024.
Forward Guidance
Capricor expects that based on the current operating plan and financial resources, its available cash, cash equivalents and marketable securities will be sufficient to cover anticipated expenses and capital requirements into the second quarter of 2024.
Positive Outlook
- Continue discussions with FDA regarding pathway towards a Biologics License Application or BLA for CAP-1002 in DMD
- Planned publication of preclinical work related to our StealthXTM engineered exosomes platform
- Planned interim analysis of HOPE-3 expected by mid-2023
- Full enrollment of HOPE-3 expected by the third quarter of 2023
Historical Earnings Impact
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Avg. Return Before/After Earnings
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