Top-Notch Karuna Therapeutics Breaks Out To Record High On Schizophrenia Win
Karuna Therapeutics (KRTX) topped expectations Monday in a study of its schizophrenia treatment, and the biotech stock soared to a record high.On the stock market today, biotech stock Karuna catapulted 71.8% to 241.19. The company tested its drug in patients with schizophrenia for five weeks. At the end of the test, patients who received the drug showed a 9.6-point reduction on a scale of symptoms compared to the placebo recipients. The scale measures 30 items related to psychopathic behavior.