Gemphire Therapeutics Falls 20% After Oral Cholesterol Drug Trial Results

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Gemphire Therapeutics (NASDAQ: GEMP) shares are trading lower after the company announced trial results for evaluating the safety, and tolerability of oral gemcabene.

The oral formulation of gemcabene is being developed for the treatment of hypercholesterolaemia which is an excess of cholesterol in the bloodstream. Three of the five patients tested showed decreases in TG levels while one patient discontinued treatment.

Gemphire shares were trading down 22.5% at 92 cents at time of publication.

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