04:56 PM EDT, 04/19/2024 (MT Newswires) -- Hepion Pharmaceuticals ( HEPA ) said late Friday that it has started wind-down activities in its phase 2b ASCEND-NASH trial of rencofilstat, while continuing to explore strategic alternatives.

Enrollment in the trial was paused in April 2023, the company said.

"We are disappointed to announce the wind-down of our Phase 2 NASH trial, which we attribute entirely to resource constraints," said Executive Chairman John Brancaccio.

"Given the number of enrolled NASH patients to date and the low probability of generating relevant efficacy data to support a registrational trial with our current cash resources, we have opted to wind down the program," he added.

About 80 subjects have completed their Day 365 visits and are evaluable for both safety and efficacy, and an additional 40 subjects will provide significant safety data for evaluation, the company said.

Shares of the company were halted prior to the release of this announcement and are expected to resume at 5 pm ET.