Bill Meury, Karuna Therapeutics CEO
Karuna to raise $400M in market a day after positive readout of schizophrenia drug
Karuna Therapeutics plans to raise $400 million in a stock sale, a day after releasing more positive data for one of its schizophrenia drugs, and after pulling in $862.5 million in a public offering last August.
The company announced the offering yesterday, plus a 30-day option to purchase an additional $60.0 million of its common stock for the underwriters. The biotech did not reveal how many new shares it would offer.
To read Endpoints News become a free subscriber
Unlock this article instantly, along with access to limited free monthly articles and our suite of newsletters