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Conatus Pharmaceuticals at $11 – In line with IPO Price

At 11:00 a.m. EDT, Conatus Pharmaceuticals (NASDAQ: CNAT) opened for trading at $11.00 per share–in line with its IPO price of $11.

The biotech company focuses on developing treatments for liver disease. It’s compound, emricasan, is currently in Phase 2 trials. On it’s website it says,

“To date, emricasan has been studied in over 500 subjects in ten clinical trials. In a randomized Phase 2b clinical trial in patients with liver disease, emricasan demonstrated a statistically significant, consistent, rapid and sustained reduction in elevated levels of two key biomarkers of inflammation and cell death, alanine aminotransferase, or ALT, and cleaved Cytokeratin 18, or cCK18, respectively, both of which are implicated in the severity and progression of liver disease. Emricasan has been generally well-tolerated in all of the clinical studies. Our initial development strategy targets indications for emricasan with high unmet clinical need in orphan patient populations, such as patients with acute-on-chronic liver failure, or ACLF, chronic liver failure, or CLF, and patients who have developed liver fibrosis post-orthotopic liver transplant due to Hepatitis C virus infection, or HCV-POLT. We expect to initiate a Phase 2b ACLF trial and a Phase 3 HCV-POLT trial (currently designated a Phase 3 registration study in the European Union and a Phase 2b study in the United States) in the second half of 2013 and a Phase 2b CLF trial in the second half of 2014.”

[stock-tools exchange="NASDAQ" symbol="CNAT" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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