The penny stock player Capricor Therapeutics $CAPR has stumbled into another pitfall.
The biotech noted that it has voluntarily halted a clinical trial of a stem cell therapy they had hoped would tamp down on the damaging inflammation associated with Duchenne muscular dystrophy. The halt was called following a “severe allergic reaction” that occurred during infusion, according to a filing with the SEC.
The filing adds:
The patient responded well to medical treatment and is currently asymptomatic. The Company has notified the United States Food and Drug Administration (the “FDA”) about this issue and is working closely with the FDA on a mitigation plan.
Capricor once traded north of $14 a share back in the go-go days of 2014. But the biotech, which burned through more than $10 million in the first 9 months of the year, has had to watch as J&J walked away from a collaboration on a stem cell treatment for damaged hearts after it failed in the clinic.
LA-based Capricor initially set out to test the potential of technology that CEO Linda Marbán’s husband, Eduardo Marbán, developed at Johns Hopkins. But as with many of the first-gen stem cell operators, it’s fallen on hard times in the wake of repeated setbacks.
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