Capricor Therapeutics Reports Third Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - Capricor Therapeutics is approaching a critical phase in its development with the upcoming topline results from the HOPE-3 Phase 3 trial of Deramiocel for Duchenne muscular dystrophy (DMD) [2][4][5] - The company has prepared for a potential commercial launch of Deramiocel in 2026, contingent on the trial results and regulatory approval [4][5] - Financial results indicate a significant increase in operating expenses and a net loss for the third quarter of 2025 compared to the same period in 2024 [9][10] Company Updates - The topline results from the HOPE-3 Phase 3 study, which includes 105 participants, are expected in Q4 2025 [4][5] - Following a recent Type A meeting with the FDA, Capricor plans to resubmit its Biologics License Application (BLA) using the HOPE-3 results to address previous concerns raised in a Complete Response Letter [5] - The company has completed its FDA Pre-License Inspection for its commercial manufacturing facility, which is now operational and ready for initial product launch [5] Financial Performance - As of September 30, 2025, Capricor reported cash, cash equivalents, and marketable securities totaling approximately $98.6 million, down from $151.5 million at the end of 2024 [7][25] - Revenues for Q3 2025 were $0, a decrease from approximately $2.3 million in Q3 2024, with total revenues for the first nine months of 2025 also at $0 compared to approximately $11.1 million in the same period of 2024 [8] - Total operating expenses for Q3 2025 were approximately $26.3 million, up from approximately $15.3 million in Q3 2024, leading to a net loss of approximately $24.6 million for Q3 2025 compared to a net loss of approximately $12.6 million in Q3 2024 [9][10] Upcoming Developments - Capricor is preparing for a commercial launch of Deramiocel in 2026, pending the results of the HOPE-3 trial [4][5] - The company is also advancing its StealthX™ exosome-based vaccine platform, with initial data from a Phase 1 clinical trial expected in Q1 2026 [4][6]