Karuna Therapeutics Shares Rip Higher After Schizophrenia Drug Aces Midstage Trial

Shares of the thinly traded, small-cap biotech Karuna Therapeutics Inc were moving higher Monday on a positive clinical trial readout.

Boston, Massachusetts-based Karuna said the Phase 2 clinical trial that evaluated its lead candidate KarXT for the treatment of acute psychosis in patients with schizophrenia met the primary endpoint.