Zafgen Reports Positive Phase 2 Clinical Trial Results for ZGN-1061
On June 23, Zafgen, Inc. (ZFGN) reported positive results from the company’s Phase 2 clinical trial of ZGN-1061. The trial is designed to prove the drug’s efficacy and safety in patients with type 2 diabetes and to establish a minimally effective dose. Zafgen reported that the patients had no treatment-related serious adverse events.
Rocket Tickers alerted subscribers about the event at 10:00 am, and the next trade was for $7.75. The stock price continued to rise throughout the day before closing at $8.99. That marks an event day gain of 16% for Zafgen.
The stock price continued to rise over the next five trading days. Zafgen closed on July 2 at $9.55 for a gain of over 23% following the event.
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