bullish
PureTech Health (PRTC LN): Continued Value Unlocking; Multiple Catalysts Are Pushing Up Stock Price
275 Views07 Sep 2022 19:37
SUMMARY
- PureTech Health (PRTC LN) has raised approximately $115.4 million through partial offloading of stake in Karuna Therapeutics Inc (KRTX US). PureTech will continue to hold 3.5% of Karuna's outstanding shares.
- Following the transactions, PureTech has updated guidance to extend its operational runway to Q1 2026 from prior cash runway guidance into Q1 2025.
- Karuna plans to submit a new drug application for KarXT in schizophrenia with the FDA in mid-2023. As a co-inventor of KarXT, PureTech has the right to receive royalty.
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Tina Banerjee
Global Healthcare Analyst
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