Finance Watch: NGM Bio Is Second NASH IPO In Two Weeks
Public Company Edition: NGM went public a week after Genfit, but endured a rockier start, trading below its IPO price. Also, Blueprint, Tricida and Sangamo launch large offerings after positive clinical and regulatory updates.
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NGM will not proceed with a Phase III study in F2/F3 NASH following failure to show fibrosis benefit in Phase IIb. Analysts say this setback could portend disappointing readouts for other NASH players.
NGM’s Phase II data for FGF19 analog aldafermin shows ability to reduce liver fat and improve fibrosis, but also raises LDL-C. Company says it gets a broader effect this way and can manage the increased cholesterol.
In a move that will generate further useful cash for AVEO, Kyowa Kirin has reacquired global rights to non-oncology uses of tivozanib.