UpCurrents.

Executive Summary The investment thesis for Capricor Therapeutics, Inc. (NASDAQ: CAPR) has undergone a fundamental and brutal shift. The U.S. Food and Drug Administration’s (FDA) issuance of a Complete Response Letter (CRL) on July 11, 2025, for the company’s lead asset, deramiocel, has definitively closed the chapter on what appeared to be a promising path…