Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of CohBar Inc (NASDAQ: CWBR) are rallying premarket on Wednesday following positive topline results from the Phase 1a/1b study of CB4211 under development for nonalcoholic steatohepatitis (NASH) and obesity.
The study met its primary endpoint showing that CB4211 was well-tolerated and appeared safe with no serious adverse events.
The study demonstrated robust and significant reductions in key biomarkers of liver damage, ALT and AST, a significant decrease in glucose levels, and a trend towards lower body weight after four weeks of treatment.
Both the CB4211 and placebo groups had substantial reductions in liver fat content compared to baseline.
“We are pleased with the positive outcome of our first human trial of CB4211 and look forward to working with disease experts to explore the next steps for our CB4211 program,” stated Dr Joseph Sarret, CohBar’s CEO.
“These impressive results validate our novel approach of using the mitochondrial genome as a valuable source of potential therapeutic peptides to treat serious systemic diseases.”
CohBar's share price has rallied on the news premarket, currently trading at $1.94, up 50.3%.
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