Capricor Therapeutics, Inc. ( (CAPR) ) has released its Q3 earnings. Here is a breakdown of the information Capricor Therapeutics, Inc. presented to its investors.
Capricor Therapeutics, Inc., a biotechnology company, specializes in developing innovative cell and exosome-based therapies for rare diseases, with a focus on cardiac and dystrophinopathies. The company recently released its third-quarter 2024 financial results and provided a corporate update, highlighting significant advancements and strategic developments.
Capricor announced the commencement of a biologics license application for deramiocel, a therapy for DMD-cardiomyopathy, with the full submission expected by the end of 2024. The company also reported positive data from its HOPE-2 OLE trial and expanded its StealthX exosome platform. A partnership with Nippon Shinyaku was signed for European commercialization, potentially bringing $1.5 billion in milestones.
Financially, Capricor’s cash position strengthened significantly, reaching $85 million due to a public offering. However, the company reported a net loss of $12.6 million for the quarter, with expenses rising to $15.3 million. Despite a decline in quarterly revenue to $2.3 million, Capricor remains optimistic about its cash runway supporting operations into 2027.
Looking ahead, Capricor continues to focus on expanding manufacturing capabilities and exploring non-dilutive funding options, signaling an optimistic outlook as it prepares for potential product commercialization pending regulatory approvals.
