Mirum Pharmaceuticals (NASDAQ:MIRM) and Assembly Biosciences (NASDAQ:ASMB) each presented clinical trial data between August 28-29 at the European Association for the Study of the Liver Digital International Liver Congress.
Mirum released data on Saturday from its phase II trial testing maralixbat as a treatment for progressive familial intrahepatic cholestasis (PFIC), is rare liver disease. Mirum said maralixbat demonstrated significant transplant-free survival for PFIC2 patients who achieved serum bile acid (sBA) control in a five-year analysis (p=0.0006).
Investors appreciated the data, sending Mirum shares up 9% by late Monday to more than $26 per share. When SanaCurrents published the Mirum report on July 10, 2020, Mirum shares closed at $19.03 per share.
A second SanaCurrents catalyst for Mirum is a rolling NDA submission for maralixbat as a treatment for another rare liver disease, Alagille syndrome (AS), which afflicts children. Mirum anticipates it will complete the submission, and the FDA will accept the document, by September 30, 2020.
Assembly presented further positive data on study 211, which evaluated Assembly’s core inhibitor ABI-HO731 as a hepatitis B treatment in combination with the current standard of care, nucleoside reverse transcriptase inhibitors (NRTIs). Assembly also entered an alliance last week with Arbutus Biopharma (ABUS) to add Arbutus’ RNAi drug AB-729 to its cocktail treatment for HBV.
Both developments sparked a rise in ASMB shares to nearly $22 per share in late Monday trading, about equal with the $22.20 per share price at the time of SanaCurrents’ July 31 report on Assembly.
- SanaCurrents is closing out its position in ASMB and 1/2 its position in MIRM in two account for the remaining catalyst
- Proceeds from the closing of this position will likely be distributed into investments in all other pending catalysts, unless explicitly stated otherwise.
- To see all pending SanaCurrents catalysts, please go to https://geoinvesting.com/sanacurrents-home