Protagonist gains nearly double after FDA removes clinical hold on rusfertide program
Oct. 11, 2021 7:36 AM ETProtagonist Therapeutics, Inc. (PTGX)By: Mamta Mayani, SA News Editor2 Comments
- Protagonist Therapeutics (NASDAQ:PTGX) soars 96.1% premarket after FDA removed the full clinical hold on its rusfertide clinical studies, as announced on September 17, 2021.
- Per the FDA, dosing in all clinical studies of rusfertide may be resumed.
- The Company provided all requested information as the basis for a Complete Response and subsequent removal of the clinical hold.
- The clinical hold was initially triggered by a recent non-clinical finding in a 26-week rasH2 transgenic mouse model indicating benign and malignant subcutaneous skin tumors.
- A conference call will take place today at 8:00 a.m. ET.
- The Company is also evaluating an orally delivered, gut-restricted alpha-4-beta-7 integrin specific antagonist peptide (PN-943) currently in a Phase 2 study in adults with moderate to severe active ulcerative colitis.
- Recently, following regulatory setback, JPMorgan downgraded the stock to neutral from overweight.