JonesResearch lowered the firm’s price target on Capricor Therapeutics (CAPR) to $29 from $40 and keeps a Buy rating on the shares. The company confirmed the FDA will not hold a panel meeting for deramiocel in Duchenne muscular dystrophy, the analyst tells investors in a research note. The firm says that while there are cases where canceled panel meetings led to FDA approval, it is inclined to believe the decision signals a complete response letter or FDA action date extension. Center for Biologics Evaluation and Research director Dr. Vinay Prasad has been a vocal advocate for increased regulatory stringency, even in DMD, contends JonesResearch. If the FDA issues a CRL, approval would be pushed to mid 2026, the firm adds. It reduced the probability of approval to 45% from 65%, driving the target cut.
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