PureTech Health (GB:PRTC) has released an update.
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PureTech Health plc has announced the FDA approval of their groundbreaking schizophrenia treatment, KarXT, now branded as Cobenfy, marking a significant innovation in neuropsychiatric medicine. The approval has resulted in milestone payments of $29 million to PureTech, with further potential payments and royalties on substantial net sales. The success of Cobenfy, the first major therapeutic advance in over 50 years, underlines PureTech’s unique R&D model and financial strategy, allowing the company to self-fund further drug development programs.
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