Early readout from small NGM study shows NASH drug hits liver fat, but shares fall

Today, NGM Biopharmaceuticals posted a peek at a small phase 2 test that has been somewhat positive, but, as ever with NASH, there are caveats, and the pros were seen as pretty underwhelming for investors. Its shares were initially up around 3% this morning on the news in early trading, then dropped into the red by more than 20%.