Conatus: Was That Trial A Total Failure? [Seeking Alpha]
CONATUS PHARMACEUTICALS INC (CNAT)
Last conatus pharmaceuticals inc earnings: 11/5 04:05 pm
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US:NASDAQ Investor Relations:
ir.conatuspharma.com/investor-relations
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Source: Seeking Alpha
Conatus Pharmaceuticals ( CNAT ), the much-touted darling of NASH space enthusiasts, shaved off over 60% of its value after flunking a phase 2b trial of lead drug candidate emricasan. The company is now valued almost at cash, without accounting for the debt figure and this quarter’s burn. Emricasan's currently ongoing trials including 6-month follow-up data due from this failed trial, the rest of its very early stage pipeline, and emricasan’s performance in the numerous earlier trials are now valued at zero. But since bottom-feeding isn’t such an ugly word when it comes to biopharma investing (we like to remind doubters of the CPXX story), we have to ask: is it game over for CNAT, or does it still have anything left? A proper answer to this question will have to consider a number of angles, and the medical angle is just one of them. We have to consider cash, management’s ability to bring back a dead company to life, market sentiment, and not by any means the least of
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