Shares of Hepion Pharmaceuticals Inc. rocketed 57% in active trading to pace all premarket gainers, after the biopharmceutical company announced positive results from a preclinical study of its CRV431 liver cirrhosis treatment. Trading volume topped 836,000 shares, already more than half the full-day average of about 1.5 million shares. The company said late Wednesday that CRV431 prevented the development of liver cirrhosis in a “highly aggressive” model of liver disease. “The results align with previous findings in other experimental models and highlight the tremendous potential of CRV431 as a treatment for liver diseases, including NASH, where progression to cirrhosis is a primary medical concern,” said Chief Executive Robert Foster. The stock had plunged 88% year to date through Wednesday, while the iShares Nasdaq Biotechnology ETF had climbed 18% and the S&P 500 had advanced 24%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
- The Fed: Job report gives Fed time to prepare more bazookas to help the economy - August 7, 2020
- In One Chart: Here’s how many lives could be saved if every American wore a mask to help prevent COVID-19 spread - August 7, 2020
- Therese Poletti’s Tech Tales: CEO who made one of Silicon Valley’s worst acquisitions wants in on record-breaking blank-check boom - August 7, 2020