RTTNews | Sep 8, 2020 10:02AM EDT

10:02 Tuesday, September 8, 2020 (RTTNews.com) - Shares of Albireo Pharma Inc. (ALBO) surged over 70% on Tuesday morning after its liver disease drug meets primary endpoints in a late-stage study.

ALBO is currently trading at $46.57, up $19.20 or 70.15%, on the Nasdaq.

Albireo Pharma is a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators. The company announced positive topline results from PEDFIC 1, a Phase 3 trial evaluating the efficacy and safety of odevixibat.

The trial met its two primary endpoints, demonstrating that odevixibat reduced serum bile acid responses and improved pruritus assessments with a single digit diarrhea rate. Odevixibat is a highly potent, non-systemic ileal bile acid transport inhibitor, for the treatment of progressive familial intrahepatic cholestasis patients.

Odevixibat has the potential to become the first approved pharmacologic treatment for patients with PFIC. The company intends to complete regulatory filings in the EU and in the U.S. no later than early 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3126912/stock-alert-albireo-pharma-soars-70-as-liver-drug-s-late-stage-trial-met-primary-goals.aspx)

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