Home  »  Equity Investing   »  Metacrine, Inc. (MTCR) stock falls around 49.87% i...

Metacrine, Inc. (MTCR) stock falls around 49.87% in aftermarket – Here’s why?

Metacrine, Inc. (MTCR) experienced a decline of 49.87% in the aftermarket because the company released Interim Results for the MET642 Phase 2a Trial. However, the last trading session closed at $3.83 with an increase of 3.23%.

Do You Own These 7 Inflation-Survival Stocks?

Inflation is still near 40-year highs and rising prices are putting a big dent in our wallets. Unless you find out how to protect your portfolio and outpace inflation, you'll keep being at the mercy of economic factors out of your control. Especially since the price of electricity, food, and shelter are creeping up higher than ever. In this special report, I detail 7 stocks to help you survive and thrive in today's market. They're backed by solid companies, positioned to profit during tough economic times, and offer out-sized dividends to help you outpace inflation.

Click here to get your free copy of the report

Sponsored

Interim Results for MET642 Phase 2a Trial & Strategic Re-Prioritization

On 21st October 2021, MTCR announced that after 16 weeks of therapy, researchers presented initial findings from a Phase 2a clinical trial. They were examining the effectiveness and safety of MET642. It is a farnesoid X receptor (FXR) agonist, in about 60 non-alcoholic steatohepatitis (NASH) patients. In addition, the company said that it will focus its clinical development efforts and resources on getting MET642 into a Phase 2 study in inflammatory bowel disease (IBD) in the first half of 2022.

MET642 was generally well tolerated, with no severe side effects reported (AEs). All of the treatment-related adverse events (AEs) were mild to moderate, with no obvious dose-response connection. One patient in the 3 mg cohort and one patient in the 6 mg cohort had mild-moderate itching. Moreover, there were no treatment discontinuations due to pruritus. From baseline to week 16, MET642 therapy resulted in on-target mean increases in LDL-C of 5% with the 3 mg dosage and 19% with the 6 mg dose, compared to a 10% reduction with placebo.

Full Enrollment for MET642 Phase 2a Trial in Patients with Nash

MTCR announced on 9th September 2021 that MET642 has completed enrollment in a Phase 2a study in patients with non-alcoholic steatohepatitis (NASH). Early in the fourth quarter of 2021, the company intends to release interim results on the first 60 patients. Despite a tough Covid-19 environment, MET642 has inspired investigators, and most significantly patients, to engage in the research. The company is just a few weeks away from reporting the MET642 interim findings, which will allow them to begin a liver biopsy trial in NASH and a solid evidence study in IBD in the first half of 2022.

Second Quarter 2021 Results

MTCR reported second-quarter 2021 results on 12th August 2021. According to the report issued by the company: The cash balance was $74.8 million, including cash equivalents and short-term investments. MTCR thinks it has enough cash to carry out its existing business plan until 2022. Moreover, the research and development expenses were $11.4 million, up from $7.4 million the previous year.

Higher clinical development expenses associated with the Company’s MET409 and MET642 programs accounted for the majority of the increase. The general and administrative expenses were $4.0 million, up from $1.8 million the year before. Higher employee-related expenditures and expenses, as well as the costs of doing business as a publicly listed firm, contributed to the increase. Lastly, the net loss was $15.6 million, compared to $9.3 million the previous year.

Leave a Comment

Your email address will not be published. Required fields are marked *

Related Posts

385

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

The 5 Best Inflation Stocks for 2022

100% free. stop anytime no spam

Get our free report on the stocks that we recommend for investors who want to protect their portfolios from inflation.

Receive Best Stock To Trade Before The Opening Bell

 

 

100% Free. Stop Anytime. No Spam