ACM

  Shares of Karuna Therapeutics Inc. KRTX, more than tripled (up 254%) November 19th in active trading to an intraday high of $123.99 after a phase 2 trial of its schizophrenia treatment met its primary endpoint.  Karuna and its underwriters, led by Goldman Sachs et al, wasted no time rushing out a sport secondary at $96 raising $250 million. At Friday’s close of $71.88, people lost serious money in this secondary, including biotech VC and hedge fund Sofinnova Venture Partners which upped their position by$15 million.  No tears shed as they are early investors, buying $15 million on the IPO at … Read more