NGM Biopharma: Surges on positive NASH trial drug results

NGM Biopharmaceuticals

24/02/2020 14:34

** Drug developer's shares  NGM.O  surge 33% to record-high
of $21.64
    ** Says its lead drug, aldafermin, to treat non-alcoholic
steatohepatitis (NASH) patients achieved main goal of liver fat
reduction in a mid-stage trial
    ** NGM plans another mid-stage drug study in H1 2020 
    ** Nonalcoholic steatohepatitis is a fatty liver disease
with no approved treatment currently
    ** Brokerage SVB Leerink forecasts >$9 bln rev from NASH
drugs in U.S. and Europe by 2030
    ** Up to Friday's close, stock rose ~10% since its April
2019 IPO 

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3463;))