Treasury
3-MO 3.82% -1bp 6-MO 3.98% +1bp 1-YR 4.04% unch 2-YR 4.23% +1bp 3-YR 4.30% +1bp 5-YR 4.38% +1bp 7-YR 4.52% +1bp 10-YR 4.68% +1bp 20-YR 5.22% +1bp 30-YR 5.21% +1bp 3-MO 3.82% -1bp 6-MO 3.98% +1bp 1-YR 4.04% unch 2-YR 4.23% +1bp 3-YR 4.30% +1bp 5-YR 4.38% +1bp 7-YR 4.52% +1bp 10-YR 4.68% +1bp 20-YR 5.22% +1bp 30-YR 5.21% +1bp 3-MO 3.82% -1bp 6-MO 3.98% +1bp 1-YR 4.04% unch 2-YR 4.23% +1bp 3-YR 4.30% +1bp 5-YR 4.38% +1bp 7-YR 4.52% +1bp 10-YR 4.68% +1bp 20-YR 5.22% +1bp 30-YR 5.21% +1bp 3-MO 3.82% -1bp 6-MO 3.98% +1bp 1-YR 4.04% unch 2-YR 4.23% +1bp 3-YR 4.30% +1bp 5-YR 4.38% +1bp 7-YR 4.52% +1bp 10-YR 4.68% +1bp 20-YR 5.22% +1bp 30-YR 5.21% +1bp 3-MO 3.82% -1bp 6-MO 3.98% +1bp 1-YR 4.04% unch 2-YR 4.23% +1bp 3-YR 4.30% +1bp 5-YR 4.38% +1bp 7-YR 4.52% +1bp 10-YR 4.68% +1bp 20-YR 5.22% +1bp 30-YR 5.21% +1bp 3-MO 3.82% -1bp 6-MO 3.98% +1bp 1-YR 4.04% unch 2-YR 4.23% +1bp 3-YR 4.30% +1bp 5-YR 4.38% +1bp 7-YR 4.52% +1bp 10-YR 4.68% +1bp 20-YR 5.22% +1bp 30-YR 5.21% +1bp
US Treasury par yield curve · Jul 30 · Source: U.S. Treasury
Thursday, July 30, 2026
U.S. Edition
Regulation

An FDA advisory committee voted 9 to 3 that the evidence does not support a Duchenne heart therapy, and Capricor says the question put to it was narrower than the application

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Photo: Castorly Stock / Pexels

The question was narrower than the application. That is Capricor's account of what happened in front of an FDA advisory committee on Wednesday, and it is the sentence to hold on to while reading everything else.

On 29 July the Food and Drug Administration's Cellular, Tissue and Gene Therapies Advisory Committee voted that available evidence did not support the effectiveness of Deramiocel for the treatment of cardiomyopathy in patients with Duchenne muscular dystrophy. The count was 3 for, 9 against, 0 abstaining. Capricor recorded it in a Form 8-K that reached EDGAR at 16:05 on Thursday afternoon.

What the filing establishes, and what it does not

The recommendation is non-binding. The company states that the FDA will consider it together with the complete administrative record in its ongoing review of the Biologics License Application, and that the Prescription Drug User Fee Act target action date remains 22 August 2026.

Two further claims in the press release are the company's own characterisations of the meeting rather than agency statements, and are reported here as such. Capricor says the voting question addressed a narrower indication than it had proposed and did not include a vote on the overall benefit-risk profile of Deramiocel. It also says that in a separate discussion on upper limb function, the committee's feedback was directionally supportive of the evidence from the Phase 3 HOPE-3 trial, including the primary endpoint.

"We remain confident in the strength of the HOPE-3 data", chief executive Linda Marbán said in the release, adding that the company remains focused on working with the FDA toward approval ahead of the August target date.

A note on where these numbers come from

This desk went looking for the agency's own record and did not find it. The FDA advisory committee calendar and the committee's landing page both answer, and neither serves the meeting as readable text to an automated request, while a constructed announcement URL for the date returned nothing at all. That is a failure of this desk's fetch and says nothing about what the FDA has published.

So every figure above, the vote count included, is Capricor's disclosure of the committee's action in a signed filing with the Securities and Exchange Commission. It is not the agency speaking.

The therapy

Deramiocel is an allogeneic cardiosphere-derived cell therapy. Capricor states that Duchenne muscular dystrophy affects approximately 15,000 people in the United States, that deterioration of the heart muscle leads to cardiomyopathy and heart failure, and that no treatment for that cardiac complication is approved. The product carries orphan drug designation in the United States and Europe, regenerative medicine advanced therapy designation, and rare pediatric disease designation.

It is investigational. The company says so plainly on the last line of its own release.

The document: Capricor Therapeutics, Inc., Form 8-K, accession 0001104659-26-088667, accepted by EDGAR 2026-07-30 at 16:05:11 Eastern, CIK 0001133869, date of earliest event reported 29 July 2026. Items 8.01 and 9.01. The 8-K body and Exhibit 99.1, the press release dated 30 July 2026 and titled 'Capricor Therapeutics Provides Update on FDA Advisory Committee Meeting for Deramiocel', were both retrieved from EDGAR, extracted to text and read on 30 July 2026. No fetch-tool summary was relied on. Item 8.01 states: 'On July 29, 2026, the U.S. Food and Drug Administration's ("FDA") Cellular, Tissue and Gene Therapies Advisory Committee voted that available evidence did not support the effectiveness of Deramiocel for the treatment of cardiomyopathy in patients with Duchenne muscular dystrophy ("DMD"), a rare and life-threatening disease for which no approved cardiomyopathy treatment currently exists (3 for, 9 against, 0 abstain).' It continues: 'The Advisory Committee's recommendation is non-binding, and the FDA will consider the Committee's recommendation, together with the complete administrative record, in its ongoing review of the Company's Biologics License Application ("BLA") for Deramiocel. The FDA's Prescription Drug User Fee Act ("PDUFA") target action date for the BLA remains August 22, 2026.' Exhibit 99.1 supplies the two company characterisations quoted in this brief, 'The Committee's voting question addressed a narrower indication than Capricor had proposed and did not include a vote on Deramiocel's overall benefit-risk profile' and 'In a separate discussion on upper limb function, the Committee's feedback was directionally supportive of the clinical evidence from the Phase 3 HOPE-3 trial, including results on its primary endpoint, PUL 2.0', together with the quotation from chief executive Linda Marbán, the description of Deramiocel as consisting of 'allogeneic cardiosphere-derived cells (CDCs)', the designations listed (Orphan Drug in the United States and Europe, Regenerative Medicine Advanced Therapy, Advanced Therapy Medicinal Product, and Rare Pediatric Disease Designation), and the statement that DMD 'affects approximately 15,000 individuals in the United States'. SOURCING HOLE, RECORDED: this desk attempted to reach the FDA's own record of the meeting on 30 July 2026 and could not. The advisory committee calendar at fda.gov/advisory-committees/advisory-committee-calendar and the Cellular, Tissue and Gene Therapies Advisory Committee landing page both return HTTP 200 but serve no meeting content as server-rendered text, and a constructed meeting-announcement URL for 29 July 2026 returned 404. That is a failure of this desk's fetch, not evidence about what the FDA has published, and every figure above is therefore attributed to Capricor's filing rather than to the agency. The vote count, the PDUFA date and the non-binding characterisation are the company's disclosure of the committee's action..