29 April 2019 - - US-based pharmaceutical company Karuna Therapeutics, Inc. has previously confidentially submitted a draft registration statement on form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock, the company said.

The number of shares to be offered and the price range for the proposed offering have not yet been determined.

The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions.

Karuna Pharmaceuticals, a clinical-stage pharmaceutical company, targets muscarinic cholinergic receptors for the treatment of Central Nervous System disorders.

The company offers KarXT that targets the muscarinic acetylcholine receptors for the treatment of schizophrenia and is composed of xanomeline, a novel clinical-stage muscarinic acetylcholine receptor agonist (activator); and trospium chloride, an FDA-approved muscarinic receptor antagonist (blocker) that has been shown not to enter the central nervous system.

It also enables controlling psychosis and increasing cognition in placebo-controlled human trials in both Alzheimer's disease and schizophrenia.