Amid Russia's Invasion On Ukraine, Karuna Therapeutics Withdraws Guidance On Late-Stage Schizophrenia Trial

According to an SEC filing, Karuna Therapeutics Inc KRTX is withdrawing its prior guidance for the timing of topline data for its Phase 3 EMERGENT-3 trial evaluating KarXT in schizophrenia.
The Company had expected topline data from the EMERGENT-3 trial in 2H of 2022.
At this time, the escalating conflict in Ukraine has created uncertainty around the Company's ability to project the timing of topline data from this trial.
The Company is actively monitoring the evolving geopolitical situation between Ukraine and Russia and the impact on clinical trial sites and operations.
Karuna continues to enroll and treat patients in the EMERGENT clinical program and will provide updates on its sites and operations in Ukraine, as appropriate.
The Company reported an EPS loss of $(0.94) for Q4 FY21, compared to $(0.89) a year ago.
It ended 2021 with $494.0 million in cash, cash equivalents, and available-for-sale investment securities.
Price Action: KRTX shares are down 6.81% at $98.01 during the market session on the last check Thursday.