Biotech Values

[DewDiligence]

MTCR—MET409 @50mg—>mean_LDL_increase=8.3%_(placebo_ adjusted)_&mean_HDL_decrease=22.9%_(placebo_adjusted) in the phase-1b NASH trial:

https://www.journal-of-hepatology.eu/article/S0168-8278(21)00099-4/fulltext

MET409 was associated with on-target high-density lipoprotein cholesterol decreases (mean changes of -23.4% for 80 mg and -20.3% for 50 mg vs 2.6% in PBO) and low-density lipoprotein cholesterol (LDL-C) increases (mean changes of 23.7% for 80 mg and 6.8% for 50 mg vs -1.5% in PBO).

8.3% is not a big number, but one can question whether a suitable drug for NASH should cause any increase in LDL while also lowering HDL.

The MET-409 pruritis data were not exactly great, although they compare favorably to some FXR agonists:

Pruritus (mild-moderate) occurred in 16% (50 mg) and 40% (80 mg) of MET409-treated subjects.

MTCR has decided to move forward with only the 50mg dose of MET-409.