Aligos Therapeutics, Inc. (ALGS) saw its stock price rise by 3.89% to close at $39.84 on December 20, 2024, following a day of heightened trading activity with a volume of 468,705 shares, significantly above its average. The stock opened at $36.76 and reached an intraday high of $41.64, reflecting investor enthusiasm. This uptick is largely attributed to the recent announcement by Ipsen regarding the launch of KAYFANDA® (odevixibat), a new treatment for Alagille Syndrome (ALGS). As the first ileal bile acid transporter inhibitor (IBATi) tested in a robust Phase III clinical trial for ALGS, KAYFANDA has shown promising results in reducing pruritus and serum bile acids, which has positively influenced investor sentiment towards Aligos Therapeutics.
The introduction of KAYFANDA® is seen as a significant advancement in treatment options for Alagille Syndrome, potentially enhancing the therapeutic landscape and driving interest in companies involved in related research and development.