Capricor rises after promising 24-month data on Duchenne drug

By Reuters News

** Shares of Capricor Therapeutics CAPR.O rise 12.8% to $9.67

** B. Riley Securities says 24-month open-label extension data from Capricor's trial, presented at the World Muscle Society Congress in Hiroshima, Japan, was in line with or better than its expectations, adding support for approval of deramiocel in Duchenne muscular dystrophy

** Brokerage maintains "buy" rating and $21 PT

** Says data strengthens the case for approval based on upper-limb function ahead of the FDA's November 22 target action date

** In August, FDA extended its review by three months after accepting additional 24-month data as a major amendment to Capricor's application

** As of last close, CAPR down 66.6% YTD

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