Huge day today for Puretech Health - up to the highest I’ve seen it in a while due to the Karuna Therapeutics drug trials going superbly well!
Up a whole £1 per share on their Friday night price.
First schizophrenia drug in decades approved
The FDA approval triggers two separate milestone payments to PureTech totaling $29 million.
PureTech is also entitled to potential future payments related to additional milestones as well as approximately 2% royalties on net annual sales over $2 billion.