Summary by Moomoo AI
Song Pharmaceutical Co., Ltd. (“Song”) announced that it has decided to no longer pursue clinical trials of the drug for the treatment of primary biliary cholecystitis (PBC) after a comprehensive analysis of Phase II clinical trial data for the treatment of the drug, ASC42. This decision is based on efficacy and safety data from a 12-week Phase II study, which showed that ASC42 showed no competitive advantage over other PBC candidate drugs in development. At the same time, Song also decided to no longer conduct clinical trials for ASC42 for the treatment of non-alcoholic fatty hepatitis (NASH) and ASC42 for the treatment of hepatitis B. The company said the decisions were to optimize R&D pipelines, improve efficiency and conserve cash. The funds...Show More