Hepion Pharmaceuticals (NASDAQ:HEPA) Stock Continues to Trend Lower: Here is Why

It was not a particularly great time for Hepion Pharmaceuticals (NASDAQ:HEPA) shareholders yesterday as the company’s stock nosedived sharply and declined by as much as 13%.

However, in this regard, it is important to note that the stock fell despite the fact that Hepion announced yesterday that its product CRV 431 managed to hit all the primary endpoints. The product met the endpoints in a middle stage trial in which it was tested on patients suffering from non-alcoholic steatohepatitis or NASH. As part of the randomized Phase 2a trial, the patients were administered with 75 mg and 225 mg of CRV 431 on a daily basis over a period of 28 days.

In addition to meeting the primary endpoints, there was no record of any serious adverse events and it was largely well tolerated by the patients. While the findings from the study proved to be positive for the company, the findings were not actually received with any great enthusiasm by the market. In this situation, it is going to be interesting to see if the Hepion stock manages to get back in favour with investors this morning and then records a bit of a recovery. Despite the decline, it might be worthwhile to keep an eye on the stock.

Market Reaction:

On Tuesday, HEPA stock slumped 15.27% at $1.72 with more than 15.44 million shares, compared to its average volume of 2.16 million shares. The stock had moved within a range of $1.6600 – 2.0050 after opening the trade at $1.95. Over the past 52-week, the stock has been trading within a range of $1.4500 – 4.8300.