Protagonist Therapeutics reports Q2 EPS (59c), consensus (59c) » 16:0808/0608/06/20
Reports Q2 revenue $6.2M,…
Reports Q2 revenue $6.2M, consensus $2.53M. "We have succeeded in bringing three differentiated candidates from de novo discovery into Phase 2 development," commented CEO Dinesh Patel. "Each of these candidates has unique attributes that address specific unmet needs in diverse diseases, such as blood disorders with PTG-300 and inflammatory bowel disease with PTG-200 and PN-943. The hepcidin mimetic PTG-300 makes use of the iron homeostasis mechanism of a natural hormone and has demonstrated potential in the treatment of polycythemia vera. We expect to initiate a pivotal study for PTG-300 in 2021 after discussions with the regulatory agencies. PN-943 and PTG-200 are both oral, gut-restricted candidates for the potential treatment of inflammatory bowel disease. PTG-200 is an IL-23 receptor antagonist partnered with Janssen and is currently in a Phase 2 Crohn's study. We recently initiated screening of patients for our Phase 2 study of PN-943 in ulcerative colitis. Finally, we are well financed and recently raised $122M through a successful secondary offering and use of our ATM program, which enables us to support planned operations through mid-2023."
|Over a week ago|
Protagonist Therapeutics initiated with a Buy at Jefferies » 06:4707/1507/15/20
Jefferies analyst Chris…
Jefferies analyst Chris Howerton initiated coverage of Protagonist Therapeutics with a Buy rating and $27 price target. He projects Protagonist's lead asset, PTG-300, can grow to over $1.6B in peak sales in its lead indication, polycythemia vera, alone, using "conservative estimates," Howerton tells investors. The analyst, who models a potential approval in 2025 for the drug, adds that upside for PTG-300 could come from a hereditary hemochromatosis indication.
|Over a month ago|
Protagonist Therapeutics receives Orphan Drug Designation for PTG-300 » 05:0006/1806/18/20
Protagonist Therapeutics announced that the FDA has granted Orphan Drug Designation for PTG-300 for the treatment of polycythemia vera. PTG-300 is an injectable synthetic peptide mimetic of the natural hormone hepcidin currently in clinical development for the treatment of polycythemia vera and hereditary hemochromatosis. "Receiving FDA orphan drug designation is another important milestone for Protagonist and underscores the importance of our work in polycythemia vera," commented Samuel Saks, M.D., Protagonist Chief Medical Officer. "Individuals living with polycythemia vera face a high disease burden. PTG-300 has a non-cytoreductive therapeutic mechanism in the treatment of polycythemia vera and has shown a well-tolerated safety profile to date. Because of its properties, PTG-300 may help provide sustained control of hematocrit and potentially help address symptoms of polycythemia vera and systemic iron deficiency in these patients." Protagonist recently announced initial Phase 2 results in patients with polycythemia vera that demonstrated robust clinical response and clinically meaningful dose related control of hematocrit levels on individual patient basis.
Protagonist granted orphan status for polycythemia vera treatment » 10:0806/1506/15/20
The FDA posted on its…
The FDA posted on its website that it granted Protagonist Therapeutics orphan status for its treatment of polycythemia vera.
European Hematology Association to hold virtual conference » 04:5506/1406/14/20
European Hematology Association to hold virtual conference » 04:5506/1306/13/20
European Hematology Association to hold virtual conference » 04:5506/1206/12/20
European Hematology Association to hold virtual conference » 07:5306/1106/11/20
Four new option listings on June 3rd » 08:3006/0306/03/20
GAN, PTGX, SLQT, XAIR
New option listings for…
New option listings for June 3rd include GAN Ltd (GAN), Protagonist Therapeutics (PTGX), SelectQuote Inc (SLQT), and Beyond Air Inc (XAIR).
Protagonist Therapeutics price target raised to $28 from $23 at H.C. Wainwright » 07:0805/1805/18/20
H.C. Wainwright analyst…
H.C. Wainwright analyst Douglas Tsao raised the firm's price target on Protagonist Therapeutics to $28 from $23 and reiterates a Buy rating on the shares. The company's data from the initial dose-finding portion of a Phase 2 study showed a 100% response rate in maintaining hematocrit less than 45% in polycythemia vera patients with none requiring phlebotomies, Tsao tells investors in a research note. The strength of the results and ongoing unmet need in polycythemia vera may qualify PTG-300 for Breakthrough designation with the FDA, says the analyst.