Conatus Pharmaceuticals Inc (NASDAQ:CNAT) announced that a late-breaking abstract detailing results from the company’s multicenter Phase 2 Portal Hypertension clinical trial in patients with liver cirrhosis has been accepted for oral presentation at The Liver Meeting®, the annual meeting of the American Association for the Study of Liver Diseases (AASLD) in San Francisco November 13-17, 2015.
The accepted abstract, “Emricasan (IDN-6556) administered orally for 28 days lowers portal pressure in patients with compensated cirrhosis and severe portal hypertension,” was published today on the AASLD website at www.aasld.org/ and is scheduled for an oral presentation on November 16 at 4:15 p.m. PT by the abstract’s lead author, Guadalupe Garcia‐Tsao, M.D., a principal investigator in the trial and Professor of Medicine (Digestive Diseases) at Yale University Medical School; Chief, Digestive Diseases, VA-CT Healthcare System; and Director, Clinical and Translational Core, Yale Liver Center.
The abstract’s senior author, Jaime Bosch, M.D., Ph.D., the independent expert hepatic venous pressure gradient (HVPG) reader in the Portal Hypertension trial, Professor of Medicine, Liver Unit, Hospital Clínic-IDIBAPS, University of Barcelona; Director, Centro de Investigación Biomédica en Red de Enfermedades Hepáticas y Digestivas (CIBERehd), Instituto de Salud Carlos III, Ministerio de Economía y Competitividad; and Guest Professor at Bern University, Switzerland, said, “The study shows that emricasan given orally for 28 days significantly decreased the portal pressure gradient in patients with severe portal hypertension, probably by decreasing liver inflammation and decreasing the release of microparticles as a result of its anti-apoptotic effect. Reductions in HVPG of the magnitude observed are clearly associated with clinical benefit and reduce morbidity and mortality in this patient population. I look forward to further longer-term studies of emricasan to determine the potential role this therapy could have in the management of patients with cirrhosis and severe portal hypertension.”
Additional abstracts previously accepted for posters at The Liver Meeting® addressing preclinical results with the company’s pan-caspase inhibitors include, “Alcohol stimulates macrophage activation through caspase dependent, hepatocyte derived release of CD40L containing extracellular vesicles,” (poster #1315), and “Emricasan, a pan caspase inhibitor, improves survival and portal hypertension in a murine model of long-term common bile-duct ligation,” (poster #1522), both to be displayed on November 16 from 8:00 a.m. to 5:30 p.m. PT with authors available for discussion from 12:30 p.m. to 2:00 p.m. PT. (Original Source)
Shares of Conatus Pharmaceuticals opened today at $4.30 and are currently trading up at $4.35. CNAT has a 1-year high of $11.74 and a 1-year low of $3.44. The stock’s 50-day moving average is $4.39 and its 200-day moving average is $5.09.
On the ratings front, Conatus Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on September 24, Piper Jaffray analyst Charles Duncan maintained a Hold rating on CNAT, with a price target of $5, which implies an upside of 16.3% from current levels. Separately, on the same day, Roth Capital’s Elemer Piros reiterated a Buy rating on the stock and has a price target of $15.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Charles Duncan and Elemer Piros have a total average return of 8.4% and -14.1% respectively. Duncan has a success rate of 45.1% and is ranked #711 out of 3793 analysts, while Piros has a success rate of 40.7% and is ranked #3632.
The street is mostly Bullish on CNAT stock. Out of 5 analysts who cover the stock, 4 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $10.00, which implies an upside of 132.6% from current levels.
Conatus Pharmaceuticals Inc is a biotechnology company focused on the development and commercialization of novel medicines to treat liver disease.