Why is Liver Disease Focused Chemomab Stock Trading Higher Today?

Chemomab Therapeutics Ltd CMMB shares are trading higher after the FDA granted CM-101 Fast Track designation for adult patients of primary sclerosing cholangitis (PSC), a fibrotic liver disease.

Programs with Fast Track designation can benefit from early and more frequent interactions with the FDA during the clinical development process. Therapeutic candidates with Fast Track designation may also be eligible for priority review and accelerated approval if supported by clinical data.

CM-101 is a first-in-class monoclonal antibody that neutralizes the soluble protein CCL24, which has been associated with key pathways underlying PSC pathophysiology in preclinical and clinical studies. 

Chemomab's Phase 2 SPRING trial is a double-blind, placebo-controlled study assessing the safety and tolerability of CM-101 in PSC patients. 

The trial is also measuring a wide range of relevant biomarkers and physiological parameters. Patient enrollment in the trial is advancing toward completion, and Chemomab anticipates reporting a top-line readout in the second half of 2024.

Price Action: CMMB shares are up 54.10% at $0.94 during the premarket session on the last check Wednesday.