CohBar Inc (NASDAQ:CWBR) Stock Pulls Back After Hitting New High

One of the stocks to have gone on a remarkable move this morning is that of CohBar Inc (NASDAQ:CWBR). The stock has rallied strongly and gone up by 57% so far this morning. There has been no news related to the company so far this morning but the rally might be related to the announcement of the top line results from the Phase 1a/1b clinical trial of its product CB4211.

The product that is currently under development is meant for treating obesity and NASH or nonalcoholic steatohepatitis. The announcement of the results yesterday had already results in a rally in the CohBar stock in the aftermarket trading period and the trend has continued this morning as well.

The findings from the top line results were quite positive for CB4211. The product not only managed to hit its primary endpoint at the study but it was also tolerated well by patients and on top of that, there were no serious side effects either.

Patients who had been treated with the product also displayed considerable reduction in the fat content in their livers when compared to the baseline. Hence, it is perhaps not a surprise that the CohBar stock is on the move this morning.