Vital Therapies Inc. will explore strategic options after the U.S. biotech firm’s liver disease treatment failed to meet the main goal of a late-stage study, driving its shares down more than 70 percent.

Eli Lilly & Co said on Friday it scrapped development of an experimental diabetes treatment that had raised concerns of liver problems. Lilly had delayed applying for marketing the treatment — basal insulin peglispro — earlier in the year, after studies reported an increase in liver fat in patients. A severe buildup of fats in […]