Capricor rises on FDA's priority review for Duchenne muscular dystrophy-related cell therapy

Shares of Capricor Therapeutics CAPR.O rise ~12% to $15.30 premarket

Co says the U.S. FDA has granted Priority Review to its drug to treat a heart condition associated with Duchenne muscular dystrophy (DMD)

DMD cardiomyopathy is a heart muscle disease that can develop in individuals with the genetic condition causing progressive muscle weakness

FDA is set to decide on the cell therapy, deramiocel, by August 31

'Priority review' status reduces the review timeline to six months from the time of filing, compared to a standard review timeline of 10 months

Up to last close, stock nearly tripled in the past 12 months