---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-037552"
form_type: "8-K"
ticker: null
cik: "0001771917"
company_name: "Karuna Therapeutics, Inc."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T09:00:11.559612+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Karuna reports Q2 net loss $103.2M; CFO transition, NDA for KarXT on track

## Summary
- Net loss $103.2M vs $64.9M a year ago; R&D $92.5M, G&A $27.4M.
- Cash $1.4B as of June 30, 2023, sufficient to fund operations through 2026.
- CFO Troy Ignelzi to depart Sept 29, 2023; succeeded by Jason Brown (SVP Finance).
- Jason Brown receives base salary $505,000, target bonus 45%, equity grants $1.6M total.
- NDA submission for KarXT in schizophrenia on track for Q3 2023; potential launch H2 2024.

## SEC filing metadata
- accession: 0000950170-23-037552
- form_type: 8-K
- cik: 0001771917
- company_name: Karuna Therapeutics, Inc.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1771917/000095017023037552/0000950170-23-037552-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1771917/000095017023037552/krtx-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-037552
- JSON: https://secwatch.observer/filing/0000950170-23-037552.json
- Plain text: https://secwatch.observer/filing/0000950170-23-037552.txt

## Key facts
- Earnings Releases
  Karuna Therapeutics, Inc. reported the second quarter ended June 30, 2023 results: net income net loss of $103.2 million.
  - Period: the second quarter ended June 30, 2023
  - Net income: net loss of $103.2 million
  - Result: reported results
  source text: On August 3, 2023, Karuna Therapeutics, Inc. (the "Company") announced its financial results and general corporate updates for the second quarter ended June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1771917/000095017023037552/0000950170-23-037552-index.htm
- Executive change
  Jason Brown was appointed as Chief Financial Officer at Karuna Therapeutics, Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: the Company announced that the Board of Directors of the Company has appointed Jason Brown to succeed Mr. Ignelzi as Chief Financial Officer of the Company, effective as of September 29, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1771917/000095017023037552/0000950170-23-037552-index.htm
- Executive change
  Troy Ignelzi departed as Chief Financial Officer at Karuna Therapeutics, Inc..
  - Action: depart
  - Role: Chief Financial Officer
  source text: the Company and Troy Ignelzi, the Company's Chief Financial Officer, mutually agreed that Mr. Ignelzi will depart from the Company effective September 29, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1771917/000095017023037552/0000950170-23-037552-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.