Metabasis Therapeutics reports positive results for Phase 1b trial

Metabasis Therapeutics, Inc. (Nasdaq: MBRX) announced this morning that it its Phase 1b multiple-dose clinical trial of MB07811, its product candidate for the treatment of hyperlipidemia, indicates that it is safe and well tolerated at the doses studied.

Based on its preliminary findings, the biopharmaceutical company said it plans to explore the safety and tolerability of higher doses. In addition, Metabasis said that preliminary results from the trial suggest MB07811 reduced fasting LDL cholesterol levels ("bad" cholesterol), as well as fasting triglyceride (TG) levels.

MB07811 is a thyroid hormone receptor agonist designed specifically to target the liver and to try to reduce LDL-cholesterol and TG levels.

Shares of Metabasis Therapeutics (MBRX) lost 6.77%, or $0.18, to $2.48 out of the gate. Shares of Metabasis Therapeutics have been trading in the range of $2.35 to $8.64 for the past 52 weeks.

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