Shares of Madrigal Pharmaceuticals (MDGL), Akero Therapeutics (AKRO) and 89Bio (ETNB) are all lower in Wednesday pre-market trading after the release of an abstract containing data from a trial of Eli Lilly’s (LLY) GLP-1 drug tirzepatide to treat patients with the liver disease metabolic steatohepatitis, or MASH. Madrigal’s drug for the disease was recently approved by the FDA and Eli Lilly’s data was released for the European Association for the Study of the Liver, or EASL, annual meeting. In pre-market trading, Madrigal shares have fallen about 12%, while those of Akero and 89Bio are down over 6% and nearly 10%, respectively.
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- Madrigal to present multiple resmetirom abstracts at EASL Congress
- Paulson buys Carrols, exits SSR Mining in Q1
- 89bio price target lowered to $33 from $37 at Evercore ISI
- Akero Therapeutics price target lowered to $38 from $50 at Evercore ISI