Gemphire to advance gemcabene into Phase 3; shares ahead 13% after hours [Seeking Alpha]
GEMPHIRE THERAPEUTICS INC COMMON (GEMP)
Last gemphire therapeutics inc common earnings: 5/9 04:02 pm
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Source: Seeking Alpha
Gemphire to advance gemcabene into Phase 3; shares ahead 13% after hoursThinly traded micro cap Gemphire Therapeutics (NASDAQ:GEMP) is up13% after hours on light volume in response to itsannouncement that it plans to advance high cholesterol fighter gemcabene into Phase 3 development in 2018.The company plans to meet with U.S. and European regulators in Q1 to clarify the design of the Phase 3 programs.Orphan Drug-tagged gemcabene is a once-daily orally available medication for patients unable to achieve normal levels of LDL-C or triglycerides with currently available therapies. It has a dualmechanism of action that blocks the production of hepatic triglyceride and cholesterol synthesis and enhances the clearance of VLDL (very low density lipoprotein). Specifically, it inhibits a liver protein called apolipoprotein C-III and may inhibit a liver enzyme called acetyl-CoA carboxylase. Gemphire licensed it from Pfizer in April 2011.Management will host a conference call at 4:30 pm ET today
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