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Hawk’s Nest

Unusual Call Buy in Neuro Biotech Pending Key Drug Launch

by | Apr 17, 2023

Karna (KRTX) interesting sneaky bull trade bought 300 November $200 calls for $22.20 to open, big strong move of 7% today with the RXDX deal. KRTX has a $6.8B Biotech as a player in the Neuro space. KRTX will file for approval of KarXT in mid-2023, with possible approval in the second half of 2024. Karuna is a development-stage neuro-innovator developing muscarinic treatments for psychiatric disorders related to psychosis, including schizophrenia and Alzheimer’s disease psychosis. Peak U.S. sales approaching $3B are realistic according to Piper