Conatus Shares Move Higher On Industry Data

Shares of Conatus Pharmaceuticals CNAT are up more than nine percent in Monday’s premarket session in a sympathy move to Intercept Pharmaceuticals ICPT.

After Monday’s close, Intercept reported endpoints were met in a trial testing obeticholic acid to treat liver. In addition, Intercept reported better than expected second quarter earnings. Following a series of analyst upgrades, shares of Intercept are no up 45 percent in the premarket session.

Similarly, Conatus is working to treat a series of liver diseases. The surge higher in Intercept shares is likely encouraging to Conatus’s solution and leads to industry revaluation.

Conatus shares were last up 9.4 percent while Intercept shares had gained 47 percent.