89bio NASH data show high statistical significance, says Cantor Fitzgerald

89bio’s "highly anticipated" Phase 2b data from the ENLIVEN trial of pegozafermin in nonalcoholic steatohepatitis brought high statistical significance on both primary histology endpoints, Cantor Fitzgerald the analyst tells investors in a research note. The firm says the every two week dosing arm appears to be highly efficacious, "which could be a major competitive advantage." Oral medicines are preferred but the FGF21 class may be more efficacious, so a more spread out dosing interval could be favored by physicians and patients, contends Cantor. The analyst says 89bio’s data was "relatively similar" Akero Therapeutics’ (AKRO) efruxifermin on fibrosis improvement and highlights that the 89bio trial was much larger and involved more patients. Both datasets support moving into Phase 3 studies and collectively showcase the promising effects of FGF21, says Cantor, who keeps an Overweight rating on 89bio with a $34 price target. The stock in premarket trading is up 48% to $16.20.