Shares of Chemomab Therapeutics (NASDAQ: CMMB) shot up by more than 30% in pre-market trading on Tuesday as the clinical-stage biotechnology company announced positive topline results from its Phase 2a trial.
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This trial was conducted on 23 NASH patients and was a randomized, placebo-controlled trial. This trial evaluated CM-101, its first-in-class CCL24-neutralizing monoclonal antibody, in non-alcoholic steatohepatitis (NASH) patients. NASH is an aggressive form of non-alcoholic fatty liver disease.
The company stated in its press release that the trial “met its primary endpoint of safety and tolerability, and CM-101 achieved reductions in secondary endpoints that include a range of liver fibrosis biomarkers and physiologic assessments measured at baseline and at week 20.”
Despite the surge in CMMB stock price, the stock has declined by more than 50% in the past year.
