- According to an SEC filing, Karuna Therapeutics Inc (NASDAQ:KRTX) is withdrawing its prior guidance for the timing of topline data for its Phase 3 EMERGENT-3 trial evaluating KarXT in schizophrenia.
- The Company had expected topline data from the EMERGENT-3 trial in 2H of 2022.
- At this time, the escalating conflict in Ukraine has created uncertainty around the Company's ability to project the timing of topline data from this trial.
- The Company is actively monitoring the evolving geopolitical situation between Ukraine and Russia and the impact on clinical trial sites and operations.
- Karuna continues to enroll and treat patients in the EMERGENT clinical program and will provide updates on its sites and operations in Ukraine, as appropriate.
- The Company reported an EPS loss of $(0.94) for Q4 FY21, compared to $(0.89) a year ago.
- It ended 2021 with $494.0 million in cash, cash equivalents, and available-for-sale investment securities.
- Price Action: KRTX shares are down 6.81% at $98.01 during the market session on the last check Thursday.
