A shame especially with the study was going well! Wonder how much SS’s driving price so low ended up steering investors away? It happens sadly!
$Hepion Pharmaceuticals(HEPA.US$ Hepion ends Phase 2 study for NASH drug due to cash restraints!
Hepion Pharmaceuticals (NASDAQ:HEPA) said it has begun winding down its ASCEND-NASH Phase 2 study for its drug rencofilstat as it continues to explore strategic alternatives for the company.
“We are disappointed to announce the wind-down of our Phase 2 NASHtrial, which we attribute entirely to resource constraints,” said Hepion Executive Chairman John Brancaccio, in a statement.
“Given the number of enrolled NASH patients to date and the low probability of generating relevant efficacy data to support a registrational trial with our current cash resources, we have opted to wind down the program,” Branaccio added, noting that no safety concerns were observed in the study.
The drug developer said in December that it planned to cut operating costs by around 60% to preserve capital, which would extend its cash runway into Q2 2025. It added that it intended to move ahead with the ASCEND-NASH study “once the clinical trial is fully funded or a strategic transaction has been entered into.”
Hepion has been testing reconfilstat for the treatment of non-alcoholic steatohepatitis, or NASH, which is also known as metabolic dysfunction-associated steatohepatitis, or MASH.
Hepion is one of several companies working on therapies for NASH/MASH. Other drug developers in the field include Eli Lilly (LLY), Novo Nordisk (NVO), GSK (GSK), Viking Therapeutics (VKTX), Ascletis (OTCPK:ASCLF), Akero Therapeutics (AKRO), 89bio (ETNB), Sagimet Biosciences (SGMT), Galectin Therapeutics (GALT), Gilead (GILD), Galmed (GLMD), Altimmune (ALT), Ionis (IONS), Terns Pharma (TERN), Inventiva (IVA) and Arrowhead (ARWR).
Hepion Pharmaceuticals (NASDAQ:HEPA) said it has begun winding down its ASCEND-NASH Phase 2 study for its drug rencofilstat as it continues to explore strategic alternatives for the company.
“We are disappointed to announce the wind-down of our Phase 2 NASHtrial, which we attribute entirely to resource constraints,” said Hepion Executive Chairman John Brancaccio, in a statement.
“Given the number of enrolled NASH patients to date and the low probability of generating relevant efficacy data to support a registrational trial with our current cash resources, we have opted to wind down the program,” Branaccio added, noting that no safety concerns were observed in the study.
The drug developer said in December that it planned to cut operating costs by around 60% to preserve capital, which would extend its cash runway into Q2 2025. It added that it intended to move ahead with the ASCEND-NASH study “once the clinical trial is fully funded or a strategic transaction has been entered into.”
Hepion has been testing reconfilstat for the treatment of non-alcoholic steatohepatitis, or NASH, which is also known as metabolic dysfunction-associated steatohepatitis, or MASH.
Hepion is one of several companies working on therapies for NASH/MASH. Other drug developers in the field include Eli Lilly (LLY), Novo Nordisk (NVO), GSK (GSK), Viking Therapeutics (VKTX), Ascletis (OTCPK:ASCLF), Akero Therapeutics (AKRO), 89bio (ETNB), Sagimet Biosciences (SGMT), Galectin Therapeutics (GALT), Gilead (GILD), Galmed (GLMD), Altimmune (ALT), Ionis (IONS), Terns Pharma (TERN), Inventiva (IVA) and Arrowhead (ARWR).
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snailsister : I want to ask, is it coming soon?
TrytosaveabitOP snailsister: Im not sure what you’re asking is coming? A bit more detail and I will try to answer for you? GL
Ben Buttons : wonder how many good drugs have fallen to the wasteside due to SS and no cash? maybe could've cured alzhiemier or something. just a thought, dam you shorts!
TrytosaveabitOP Ben Buttons: Yes you are correct! Shorts drive down price! Investors look and see stock price so low that it discourages them from investing! Even though they are doing great work! Because the bottom line is people invest, ( even in great potential products ), with expectations they will get a return on taking the risk!
snailsister TrytosaveabitOP: Because I own it
There's not much money left in the loss
TrytosaveabitOP snailsister: Hehehe! Gotcha! It needs volume for it to move up? Grrr! GL
snailsister TrytosaveabitOP: I feel like there's no volume. I've had it for 3 years. It's great.
Jaguar8 : They don’t realize how important this treatment can give. I hope they don’t get the disease and end up hopeless
TrytosaveabitOP Jaguar8: Yup