89bio's Fatty Liver Candidate Shows Long-Term Improvement: Details
Portfolio Pulse from Vandana Singh
89bio Inc (NASDAQ:ETNB) reported positive topline data from the Phase 2b ENLIVEN trial of pegozafermin for NASH, showing sustained improvements in liver health markers at week 48. The results were consistent with week 24 findings, and the drug was well-tolerated with stable adverse event rates. Despite the positive data, ETNB shares dropped 3.28% to $7.66.
November 27, 2023 | 5:42 pm
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NEGATIVE IMPACT
89bio Inc's pegozafermin demonstrated sustained efficacy and safety in the ENLIVEN trial for NASH, but shares fell 3.28% to $7.66.
Despite the positive trial results for pegozafermin, which would typically be a bullish signal for the stock, ETNB shares experienced a decline. This could be due to profit-taking, market conditions, or investor expectations already pricing in the trial's success. The short-term impact is negative due to the observed price drop, but the long-term outlook may still be positive if the drug progresses successfully through further clinical development and regulatory review.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100