Karuna and In­cyte scrap pro­grams; More cash for the SPACs

Karuna Ther­a­peu­tics has built it­self in­to a $2 bil­lion com­pa­ny off the da­ta of an old Eli Lil­ly drug, when com­bined with tro­spi­um chlo­ride, showed in schiz­o­phre­nia. For a while, the com­pa­ny hoped that it might al­so prove ef­fec­tive as a non-opi­oid treat­ment for pain.

Now, how­ev­er, Karuna is aban­don­ing that ef­fort. Af­ter a Phase Ib tri­al of 24 healthy vol­un­teers did “not pro­vide con­clu­sive ev­i­dence of an anal­gesic ben­e­fit of KarXT,” the com­pa­ny said it would stop de­vel­op­ing it for that in­di­ca­tion. Karuna will con­tin­ue work­ing on the drug, an M1 and M4 ag­o­nist, for schiz­o­phre­nia. Pa­tients who re­ceived it in a Phase II tri­al last year showed a 24-point im­prove­ment on a com­mon clin­i­cal score.

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