Re: Curious -- what was disclosed at conference that would cause a sell off?
Conatus Pharmaceuticals (CNAT -27.2%) slumps on double normal volume in reaction to results from a Phase 2 clinical trial, ENCORE-PH, evaluating emricasan in NASH patients with cirrhosis and severe portal hypertension. The data were presented at The International Liver Congress in Vienna.
Emricasan failed to sufficiently separate from placebo in terms of the mean change from baseline to week 24 in hepatic venous pressure gradient (HVPG), the primary endpoint (first announced in December 2018).
On the safety front, 82.1% (n=55/67) of patients receiving emricasan experienced a drug-related adverse event, 55.2% (n=37/67) moderate or severe. The most common were peripheral edema (8 - 15% depending on the dose), nausea (9 - 12%) and urinary tract infection (8 - 15%).
Shares plummeted over 50% in late March when the company announced that its ENCORE-HF study failed.