Benzinga | Aug 25, 2020 11:34AM EDT

Why Capricor Therapeutics Is Trading Higher Today

Capricor Therapeutics (NASDAQ: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.