In our lab we would look changes to proliferation as previously suggested. HepG2 is the standard liver cancer line. You may also want to check the effects on non-tumorigenic or primary hepatocytes to make sure your drug can discriminate between normal and tumorigenic.
As far as assays, we also do a "soft-agar" or "anchorage-dependency" test. Typically tumorgenic cell lines will form colonies in this assay and non-tumorigenic ones wont. I would do this test pre and post treatment to observe for changes in size and abundance of colonies. Let me know if you're interested in the protocol for this assay.
Thank you for your wonderful reply since I'm New to this cell line studies could you please help me with those bio assays you suggest if there any standardization protocols that you are using in lab media perpetration and other bio assays protocols if you have ?
Cell viability or MTT assay is routinely used to study the anticancer properties of a given sample. This a is a simple, rapid, and low cost quantitative assay for screening anticancer agents/extracts. We have used hepatic cell lines like HepG2, Huh7, Alexander, AML12 and IHH cell lines to evaluate the anticancer properties of many plant extracts. You may see our publications at Research-Gate or PubMed.
You may also use Scratch assay for study the metastatic behavior of cells or Soft Agar colony inhibition assay for evaluating anticancer properties of a sample.