Market Assessment
Clinical development of effective therapeutics for cholestatic liver diseases remained dormant for decades until recent approval of obeticholic acid (OCA) by Intercept Pharmaceuticals (ICPT) in 2016 for PBC. Despite clinical meaningful benefits derived from OCA, its pruritogenic enhancing effects are clinically problematic for some patients. With several investigative drug candidates - including seladelpar by CymaBay Therapeutics ([[CBAY]]), GKT831 by GenKyoTex, elafibranor by Genfit ([[GNFT]]) and cilofexor by Gilead ([[GILD]]) - in clinical studies for PBC, this article highlights NGM282 by NGM Biopharmaceuticals (NGM), a small-cap ($891 million) clinical-stage biopharma,