Karuna Therapeutics (KRTX) Stock

Karuna's (KRTX) fourth-quarter 2023 earnings and revenues miss estimates. The company is set to be acquired by Bristol Myers.

Bristol Myers (BMY) is set to acquire Karuna (KRTX) for $330 per share. This transaction is expected to close in the first half of 2024.

Michael Yee, Jefferies Senior Biotech Analyst, joins 'Fast Money' to talk a possible boom ahead for the biotech sector.

If approved, Karuna's (KRTX) KarXT will be the first new mechanism of action to treat schizophrenia in several decades. A final decision is expected in September 2024.

Karuna Therapeutics focuses on developing therapies that target muscarinic cholinergic receptors to treat psychosis and cognitive impairment in CNS disorders. The Company's lead asset, KarXT, has shown promising efficacy in phase III studies and has a unique mechanism of action compared to traditional antipsychotics. KarXT has potential applications in both schizophrenia and Alzheimer's disease psychosis, offering diversification to the investment thesis.

Karuna Therapeutics, Inc. (NASDAQ:KRTX ) Q3 2023 Earnings Conference Call November 2, 2023 8:00 AM ET Company Participants Alexis Smith - Head of Corporate Affairs and IR Bill Meury - President and CEO Jason Brown - CFO Andrew Miller - Founder and COO Will Kane - Chief Commercial Officer Conference Call Participants Yatin Suneja - Guggenheim Securities Myles Minter - William Blair Paul Matteis - Stifel Ash Verma - UBS Mohit Bansal - Wells Fargo David Amsellem - Piper Sandler Jay Olson - Oppenheimer Jeff Hung - Morgan Stanley Jason Butler - JMP Securities Operator Welcome to the Karuna Therapeutics Third Quarter 2023 Financial Results Conference Call. All participants are in a listen-only mode.

Karuna's (KRTX) third-quarter 2023 earnings miss estimates. The company did not record any sales during the quarter.

Karuna Therapeutics, Inc. stock had >8x gain after my Buy rating before successful Phase 3 trial data for KarXT in treating schizophrenia. The stock has pulled back and is at a good buy level ahead of the upcoming NDA decision (end of this year) and potential FDA approval for KarXT in 2024. KarXT has the potential to become a new standard of care for treating schizophrenia (a large target market), with several advantages over current treatments.

BOSTON--(BUSINESS WIRE)--Karuna Therapeutics, Inc. (NASDAQ: KRTX), a biopharmaceutical company driven to discover, develop, and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced it will be presenting new secondary efficacy, safety and tolerability, and pooled cognition data from its EMERGENT clinical program evaluating KarXT (xanomeline-trospium) in schizophrenia. The data will be presented at the upcoming 36th European College of N.