Intercept, NGM rise on rival Novo's mixed NASH drug data

NGM Biopharmaceuticals

06/05/2020 18:02

** Shares of drug developers Intercept Pharmaceuticals Inc
 ICPT.O  and NGM Biopharmaceuticals Inc  NGM.O  rise between
6%-10%
    ** Rival Novo Nordisk  NOVOb.CO , along with Q1 sales,
reported that its drug semaglutide had met the main goal of a
trial testing it in NASH patients, but missed a secondary goal
(https://bit.ly/2Wxwsgv)
    ** There are currently no approved treatment for NASH or
nonalcoholic steatohepatitis, and several drugmakers including
ICPT and NGM are in the race for a drug to treat the fatty liver
disease 
    ** Novo's drug did not meet the important goal of
improvement in fibrosis or liver scarring without worsening of
NASH 
    ** The fact that NGM's drug has demonstrated a fibrosis
improvement in only 24-weeks still remains a clear
differentiator - Stifel
    ** Baird says data is a clear positive for ICPT as there
were concerns that GLP-1 agonists, a class of drugs semaglutide
belongs to, could marginalize the market opportunity for ICPT's
drug 
    ** ICPT shares up 10.4% at $88.74 and NGM up 6.7% at $19.09
in afternoon trading
    ** NGM up 4.9% YTD, while ICPT down nearly 28% 

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
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