‘Pharma Bro’ Martin Shkreli Goes Short On Capricor Therapeutics – Stock Tumbles 17%
Synopsis
Shkreli said that the company’s only asset, Dermiocel, will not yield positive results in the HOPE-3 study.
Shares of Capricor Therapeutics (CAPR) slumped 17% on Monday morning after former biotech executive and businessman Martin Shkreli announced his short position.
Shkreli said that the company’s only asset, Dermiocel, will not yield positive results in the HOPE-3 study. Results from the study are slated to be announced in a few days.
Shkreli highlighted concerns, including limitations in cell therapies' ability to reach target tissue and other safety issues, provided they are derived from donor hearts and are not immunoprivileged cells.
He further alleged that data from the company’s previous HOPE-2 trial was not meaningful. “Note the company and the publication reported a successful PE met, but the FDA disagreed,” he said.
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