Breaking News

Gemphire's stock more than doubles on heavy volume after upbeat trial results

Shares of Gemphire Therapeutics Inc. GEMP, +94.47% more than doubled (up 142%) in lively premarket trade Friday, after the biopharmaceutical company stated a section 2b trial for gemcabene, a remedy for severe hypertriglyceridemia (SHTG), completed the primary endpoint. Volume crowned 218,000 stocks about 100 minutes prior to the open, which is already more than the full-day regular-session average of about 215,000 stocks. The trial results set gemcabene to advance into section 3 trials. The trial additionally met several secondary endpoints. SHTG is a condition wherein sufferers have high triglycerides, which increases of the chance of heart problems and acute pancreatitis. The inventory had tumbled 19.5% during the last three months thru Thursday, whjle the iShares Nasdaq Biotechnology ETF IBB, +1.73% has received 1.1% and the S&P 500 SPX, +zero.08% has tacked on 2.nine%.