Stock Alert: NGM Biopharma Up 24% After Liver Disease Drug Trial Meets Endpoints

(RTTNews) - Shares of NGM Biopharmaceuticals Inc. (NGM) is gaining nearly 24% on after the pharma company said its liver disease drug's stage-2 study achieved positive results. Phase 2 study of Aldafermin, NGM's lead drug candidate developed as a once-daily treatment for patients with non-alcoholic steatohepatitis. The drug compared to placebo achieved significant change in absolute liver fat content. NGM Biopharmaceuticals operates as a clinical-stage biopharmaceutical company. The company focuses on developing novel therapeutics based on scientific understanding of key biological pathways underlying cardio-metabolic, liver, oncologic, and ophthalmic diseases.

NGM is currently trading at $20.00, up $3.81 or 23.53%, on the NYSE, on a volume of 1.4 million shares, above its three-month average volume of 256 thousand.