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Conatus Pharmaceuticals Inc. (CNAT) Sank After Phase 2 Study Failed

Conatus Pharmaceuticals Inc. (CNAT) announced after the close Wednesday that it Phase IIb trial of Emricasan in post-orthotopic liver transplant recipients failed to meet its primary endpoint.

Conatus Pharmaceuticals gapped open sharply lower Thursday and drifted lower during the first half of the session. Shares finished with a loss of 1.89 at $4.12 with volume at nearly an 11-month high. The stock sank to a 3 1/2 month low.

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