leadf
logo-loader
viewConatus Pharmaceuticals Inc

Conatus Pharmaceuticals shares tank after missing primary endpoint in clinical trial of its liver disease drug

Results from the Phase 2b clinical trial of liver disease drug Emriscan failed to show a meaningful difference when compared with the placebo

Scientist sitting in a lab and looking into a microscope
Conatus focuses on the development of therapies to treat liver disease

Conatus Pharmaceuticals Inc (NASDAQ:CNAT) shares lost about half their value in Thursday pre-market trading following disappointing results from its Phase 2b clinical trial of its liver disease drug Emriscan.

The biotech’s ENCORE-PH clinical trial found that Emriscan failed to meet the primary endpoint of the study after being unable to show a meaningful difference when compared with the placebo.

READ: BioTime shares pop following positive preclinical results from its HyStem drug delivery platform

Shares fell 51% to $2.20 in Thursday pre-market trading.

Emriscan is an oral drug designed to reduce the activity of enzymes that cause inflammation and cell death, which may be able to affect the progression of liver disease.

“We believe data from the ENCORE-PH clinical trial as well as data from our two ongoing ENCORE trials that will be available in 2019 will warrant future discussions with regulatory authorities regarding potential pivotal trials in patients with NASH and advanced liver disease,” said Executive Vice President of Clinical Development David T. Hagerty in the company’s press release.

The double-blind, placebo-controlled study, conducted alongside drug manufacturing giant Novartis AG (NYSE:NVS), enrolled 263 patients with nonalcoholic steatohepatitis, a condition caused by a buildup of fat in the liver resulting in inflammation and damage to the organ.

Conatus is a San Diego-based biotech focused on the development of therapies to treat liver disease.

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

Quick facts: Conatus Pharmaceuticals Inc

Price: - -

NASDAQ:CNAT
Market: NASDAQ
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Trump Vs Biden debate: Market reaction, corporate support and future predictions

Neil Wilson from Markets.com joins Proactive London's Katie Pilbeam following the U.S. President Donald Trump and Democratic rival Joe Biden debate on Thursday night. With 47 million Americans already voted - do the markets even care? Wilson says there was 'no killer blow' which would explain...

1 day, 23 hours ago

2 min read