Gem­phire shares crater af­ter its LDL drug comes up short in PhI­Ib

Just two months af­ter Gem­phire $GEMP CEO Mi­na Sooch abrupt­ly left the helm, the biotech is re­port­ing out some dis­ap­point­ing new LDL da­ta from a Phase IIb study of their lead drug.

Af­ter en­rolling 105 men and women whose LDL was not con­trolled by statins for its ROY­AL-1 study, in­ves­ti­ga­tors re­port­ed track­ing a 17% re­duc­tion in bad LDL lev­els among pa­tients tak­ing gem­cabene, sig­nif­i­cant­ly less than the 23% to 28% re­duc­tions that Pfiz­er had been track­ing be­fore out­li­cens­ing the drug to the Livo­nia, MI-based com­pa­ny.

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