Merck rises after cholesterol drug trial data

Shares of drugmaker Merck MRK.N rise 1.7% to $80.26 premarket

Co says its oral drug, enlicitide decanoate, met the main goals of lowering bad cholesterol in two late-stage trials

Enlicitide demonstrated significant reductions in low-density lipoprotein cholesterol compared to placebo in patients with high cholesterol

The drug also outperformed other oral non-statin therapies in patients already taking statins, a common type of cholesterol-lowering medication, co says

Enlicitide works by inhibiting a type of protein, PCSK9, which plays a key role in regulating cholesterol levels in the blood

As of last close, stock down 20.6% YTD