Why Capricor Therapeutics Is Trading Higher Today

Capricor Therapeutics CAPR shares are trading higher on Tuesday after the company announced the U.S. Food and Drug Administration has accepted its investigational new drug application for a Phase 2 clinical trial of CAP-1002 in patients with COVID-19.

The study will enroll patients who have a confirmed diagnosis of SARS-CoV-2 and require supplemental oxygen. Enrollment is expected to commence shortly.

Capricor Therapeutics is a U.S.-based clinical-stage biotechnology company focused on the discovery, development, and commercialization of first-in-class biological therapies for the treatment of diseases, with a focus on Duchenne muscular dystrophy, and other medical conditions. The company's development stage drug candidates for cardiovascular diseases include CAP-1002 that is in Phase II clinical trials; and CAP-2003, which is in pre-clinical development for the treatment of certain cardiac and inflammatory conditions.

Capricor Therapeutics shares were trading up 4.17% at $5.74 on Tuesday. The stock has a 52-week high of $12.32 and a 52-week low of 88 cents.