Stock Alert: Capricor Therapeutics Stock Up 26% In Pre-Market

(RTTNews) - Shares of Capricor Therapeutics Inc. (CAPR) are soaring over 26% in pre-market today, after the company announced it is providing CAP-1002, its novel cell therapy to patients with advanced COVID-19 under the compassionate use pathway.

Further, the company noted that two patients were treated last week at a leading healthcare center in Los Angeles, California with additional patients planned in the coming weeks. Infusions of CAP-1002 were administered safely and patients are currently clinically stable.

"The compassionate use act allows FDA to immediately collect information on experimental treatments and then make the appropriate decisions about the safety and efficacy of those treatments. Physicians plan to re-dose patients as well as treat additional patients in the coming weeks," the company said.

Additionally, Capricor has submitted an expanded access Investigational New Drug (IND) application to investigate the use of CAP-1002 in certain COVID-19 patients which is currently under review with the FDA.

The stock has been trading in the range of $0.88 - $8.85 for the past one year, and closed Thursday's trade at $1.01, down 7 cents or 6.48%. CAPR is currently trading at $1.28, up 27 cents or 26.73% in the pre-market trading session.