 Capricor Therapeutics Inc.s NASDAQ: CAPR shares soared after data that pointed to a 100 percent survival rate in critical COVID-19 patients treated with new CAP-1002 cardiac cell therapy was released.What Happened Six critically ill COVID-19 patients were treated with CAP-1002, a new cell therapy currently being developed for the treatment of Duchenne muscular dystrophy DMD. All the patients were treated at Cedars-Sinai Medical Center in Beverly Hills, California, and were suffering from acute respiratory distress syndrome ARDS. Four of the six patients have now been discharged.After a review of the available data, the U.S. Food and Drug Administration has approved Capricors expanded access protocol to treat up to 20 additional COVID-19 patients with CAP-1002.Dr. Linda Marban, the chief executive of Capricor, said in a statement, CAP-1002 is an easy-to-deliver intravenous therapy that has been administered successfully to over 150 patients to date. Given its novel mechanism of action, it could be a potential game-changer in helping countless COVID-19 patients.Why It Matters The company has reported no adverse effects related to the infusion of CAP-1002 from among the six COVID-19 patients.Four of the six patients no longer required ventilator support within 1-4 days of receiving the CAP-1002 treatment.Capricor shares closed more than 250 higher on Wednesday, the same day the treatment data was released. The clinical-stage biotechnology company, which had a minuscule market cap of 10.16 million at the beginning of April, was predicted to achieve a triple-digit market capitalization by analysts. At press time, the companys market cap stood at 101.95 million.Price Action Capricor Therapeutics shares traded 3.65 lower at 8.19 in the after-hours session on Wednesday. The shares had closed the regular session 252.70 higher at 8.50.See more from Benzinga Barclays Q1 Net Profit Erodes By 42, Bank To Take Up .6B Credit Impairment Charge Alphabet Shares Rise During Earnings Call As Q1 Advertising Revenue Better Than Expected Buyout Hopes Raised As Blackstone Picks Up 0M Stake In Australian Casino Operator CrownC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 