Bristol Myers Squibb and Karuna Therapeutics announced a final acquisition agreement, as Bristol Myers Squibb acquires potential first in class therapies from Karuna for $14 billion. According to the agreement, Bristol Myers Squibb agreed to acquire Karuna Company for a total amount of approximately $14 billion. Through this acquisition, Bristol Myers Squibb will acquire Karuna's potential "first in class" therapy, KarXT (xenomeline therapy), which has been accepted by the US FDA for a new drug application (NDA) for the treatment of adult schizophrenia. The PDUFA target date is September 26, 2024. According to the press release, if approved, KarXT will become the first new mechanism drug used to treat schizophrenia in decades.