Karna

Karuna Therapeutics is a neuroscience-focused biopharmaceutical company acquired by Bristol Myers Squibb in March 2024. The company built its pipeline around muscarinic receptor-targeted small molecules for serious neuropsychiatric and neurological disorders. Its lead program, KarXT, was developed for schizophrenia and other neuropsychiatric indications and was later approved by the U.S. FDA as Cobenfy for schizophrenia in adults in September 2024. Before the acquisition, Karuna operated as a publicly traded clinical-stage biotech headquartered in Boston. The company is now a wholly owned Bristol Myers Squibb subsidiary and its former standalone pipeline has been folded into BMS's neuroscience portfolio.