FDA Approves KarXT To Treat Schizophrenia; PureTech Health Gets $29 Mln Milestone Payment
This approval triggers 2 milestone payments totaling $29 million, as per agreements with Royalty Pharma and PureTech's founded entity, Karuna Therapeutics, which was acquired by Bristol Myers Squibb (BMS) in March of 2024. Royalty Pharma had acquired an interest in PureTech's royalty in KarXT.