Here's Why NGM Biopharmaceuticals Is Soaring Today

Shares of NGM Biopharmaceuticals (NASDAQ: NGM), a clinical-stage biotechnology company, jumped as much as 41% on Monday morning. The stock was up about 19% as of 10:52 a.m. EST. The double-digit boost is a response to the release of encouraging data from a phase 2 clinical trial.

NGM reported results from its 24-week phase 2 trial that was testing its experimental drug called aldafermin as a hopeful treatment for non-alcoholic steatohepatitis (NASH).

Here are the key takeaways from the trial:

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Source Fool.com