JonesResearch says shares of Capricor Therapeutics (CAPR) saw some volatility over an FDA warning letter issued to an investigator involved in the deramiocel HOPE-3 study, Dr. Phan. After reviewing the information and speaking with management, the firm believes the negative response was an overreaction. Dr. Phan is a neurologist involved in HOPE-3, but her research organization has 11 ongoing Duchenne muscular dystrophy studies, plus dozens of other studies in various rare diseases, the analyst tells investors in a research note. Jones thinks the FDA warning letter is unlikely to impact deramiocel’s application. It keeps a Buy rating on Capricor Therapeutics with a $40 price target
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