Capricor Therapeutics secures long-term lease for San Diego headquarters as it awaits FDA approval for Deramiocel therapy.
Capricor Therapeutics has secured a long-term lease for a 171,000 square foot headquarters in San Diego. This move follows a potential FDA approval for its Deramiocel therapy, which serves as a key milestone for the company's exosome platform. While the share price has seen a recent decline of 25.5% over 30 days, long-term investors have seen significant gains, with a 1-year total shareholder return of 190.1%. The company is currently trading at a steep discount to analyst targets, with a fair value of $58 compared to a closing price of $19.70. The success of Deramiocel is expected to validate the company's underlying exosome platform, which is being used to develop StealthX, a next-generation engineered exosome platform. Despite these gains, the company faces risks including a legal dispute with NS Pharma and potential setbacks in the FDA review process.