June 13, 2019

Steven Paul, M.D.
Chief Executive Officer, President and Chairman
Karuna Therapeutics, Inc.
33 Arch Street, Suite 3110
Boston, MA 02110

       Re: Karuna Therapeutics, Inc.
           Registration Statement on Form S-1
           Response dated June 7, 2019
           File No. 333-231863

Dear Dr. Paul:

       We have reviewed your June 7, 2019 response to our comment letter and
have the
following comment.

       Please respond to this comment within ten business days by providing the
requested
information or advise us as soon as possible when you will respond. If you do
not believe our
comment applies to your facts and circumstances, please tell us why in your
response.

       After reviewing your response to this comment, we may have additional
comments.

Registration Statement on Form S-1 Filed May 31, 2019

Management's Discussion and Analysis of Financial Condition and Results of
Operations
Critical Accounting Policies and Estimates
Determination of Fair Value of Common Stock, page 100

1.    We have reviewed your response to prior comment seven from our letter
dated April 26,
      2019. Please provide us with the following additional information:
        For each valuation date, please provide us with the estimated fair
value of your
         common stock calculated under each scenario separately.
        Please clarify how your recent preferred equity issuances (and the
price at which such
         shares were issued) was factored into your common share valuations.
Clearly identify
         the various rights and preferences considered and the relative
discounts applied for
         each to reach the values assigned to the option grants.
 Steven Paul, M.D.
FirstName LastNameSteven Paul, M.D.
Karuna Therapeutics, Inc.
Comapany NameKaruna Therapeutics, Inc.
June 13, 2019
Page 2
June 13, 2019 Page 2
FirstName LastName
       You may contact Bonnie Baynes at 202-551-4924 or Angela Connell at
202-551-3426 if
you have questions regarding comments on the financial statements and related
matters. Please
contact Jeffrey Gabor at 202-551-2544 or Suzanne Hayes at 202-551-3675 with any
other
questions.



                                                          Sincerely,

                                                          Division of
Corporation Finance
                                                          Office of Healthcare
& Insurance
cc:      Seo Salimi, Esq.