Keyword: Conatus Pharmaceuticals
The latest setback prompted Novartis-partnered Conatus to lay off 40% of its staff and begin looking for strategic alternatives.
The latest setback saw the Novartis-partnered liver disease drug fail to beat placebo in NASH patients, wiping another 50% off Conatus’ stock price.
The setback wiped 55% off Conatus’ stock in premarket trading as investors digested the implications of a second midphase failure in eight months.
Conatus Pharma’s lead drug emricasan missed the mark in its first midstage clinical test, driving down its stock.
Novartis has bolstered its R&D portfolio for NASH, a progressive fatty liver disease tipped to become a $20 billion to $35 billion market in the coming years, with its second deal in a month.