|Capricor's stock price has soared since Monday.|
Chart from Google Finance
Wednesday, January 08, 2014
On Dec. 29, Knoepfler predicted a “big announcement from Big Pharma” in 2014. He did not have to wait long to add some shine to his crystal ball.
On Monday, he wrote about the news that Johnson&Johnson was pumping $12.5 million into Capricor Therapeutics' stem cell therapy for heart disease. Capricor could see another $325 million from J&J if all goes well in its stage two clinical trial, which is being supported by $20 million from the California stem cell agency.
“I'd call that big money,” Knoepfler wrote. He also noted in his blog he has no financial interest in either company.
Investors liked the news as well. Capricor's stock closed at $7.05 today, more than double its $3.40 close on Friday, the business day just prior to J&J announcement.Sphere: Related Content