Biotech Values

[DewDiligence]

CNAT—(-64%/AH)—fails in two more NASH phase-2b trials—that makes four phase-2b failures in all and no successes—discontinues Emricasan development—implements 40% layoff and “strategic restructuring”:

https://www.globenewswire.com/news-release/2019/06/24/1873299/0/en/Conatus-Announces-Results-from-ENCORE-LF-and-ENCORE-PH-Phase-2b-Clinical-Trials-in-NASH-Cirrhosis.html

https://www.globenewswire.com/news-release/2019/06/24/1873304/0/en/Conatus-to-Explore-Strategic-Alternatives-and-Implement-Restructuring-Plan.html

I owned a small position in CNAT a few years ago, but fortunately got out when the (misguided) phase-2b program was announced in late 2015 (#msg-118264572).