Liminal BioSciences Stock Falls on Scrapping Further Development of Fezagepras

Based on interim pharmacokinetics (PK) results from the ongoing multiple ascending dose study Liminal BioSciences Inc LMNL has decided not to move fezagepras into a Phase 2 study in Idiopathic Pulmonary Fibrosis and a Phase 1a/2b study in Hypertriglyceridemia.
The Company is evaluating the interim PK results.
Once the study is complete, the Company expects that a full analysis of the complete PK data set from the phase 1 study will help determine the choice of any other potential indication(s) for further development of fezagepras.
No dose-limiting adverse events or other potential safety signals have been observed.
Price Action: LMNL shares dropped 5.88% at $4.16 during the premarket session on the last check Tuesday.