Shares of biopharmaceutical company Inventiva (NASDAQ:IVA) are soaring higher today after it posted positive topline results from a Phase 2 study evaluating lanifibranor for the treatment of non-alcoholic fatty liver disease (NAFLD) and type 2 diabetes mellitus (T2D).
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The Phase 2 trial reached the primary efficacy endpoint with a 44% decrease of intrahepatic triglycerides as compared to 12% in the placebo arm of the study. Additionally, the drug demonstrated a substantial effect on glycemic control, atherogenic dyslipidemia, hepatic insulin action as well as insulin-stimulated muscle glucose disposal.
Further, the treatment was observed to be well tolerated without any safety concerns. Importantly, these results further reinforce data from a Phase 2b study evaluating lanifibranor across a range of NFLD-related ailments.
Overall, the Street has a $24.33 consensus price target on IVA alongside a Strong Buy consensus rating. Today’s price gains come on top of a nearly 40% rise in Inventiva shares over the past month alone.
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