Capricor Therapeutics Inc (NASDAQ: CAPR) was a big gainer in yesterday’s session, closing the day up by 252.70%. This followed the release of data showing that the company’s cardiac cell therapy CAP-1002 had a 100% survival rate for patients with COVID-19. The CAP-1002 therapy treatment was applied to 6 compassionate care cases at the Cedars-Sinai Medical Center.
The treatment was administered in a month to 6 COVID-19 patients that had severe respiratory distress syndrome, and five of them were on ventilators. After being treated with CAP-1002, four of them were healed and released from hospital.
Capricor Therapeutics also announced that the FDA had approved its expanded access protocol. This allows the company to treat an additional 20 COVID-19 patients. The company further announced that it was carrying out a placebo-controlled randomized trial on patients with moderate to severe symptoms. The company also stated that the trial will be funded using non-equity capital.
The company also stated that CAP-1002 to demonstrated immunomodulatory properties. It added that several peer-reviewed studies showed that CDCs have a favorable immune response. Studies also show that the late stages of COVID-19 are characterized by an overreaction of the immune system that leads to inflammation.
Commenting on the latest results, Capricor CEO Dr. Linda Marban stated that the results of the company’s initial care studies were very promising. She added that the company was looking forward to giving additional treatment to patients under the approved expanded new investigational new drug application program. She further stated that CAP-1002 is an easy to deliver therapy, and had been used on more than 150 patients since inception. She concluded by stating that the new treatment could be a game changer in the fight against COVID-19.
Looking at its price action, CAPR is in a breakout. The stock gapped up and opened the day at $5.18. It then traded between a low of $3.72 and a high of $11.08, before closing at $8.50. Volumes in the day stood at 199.35 million.
About Capricor Therapeutics Inc
Capricor Therapeutics Inc is a biotech company that develops therapies for various diseases, but primarily majors on Duchenne muscular dystrophy. The company is based in Beverly Hills, California.