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Protagonist Therapeutics Stalls Ulcerative Colitis Study
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Protagonist Therapeutics, Inc. (PTGX - Free Report) announced that it has discontinued phase IIb study – PROPEL – on its ulcerative colitis ("UC") candidate, PTG-100.
Protagonist is a small biotech company focused on developing treatment for inflammatory bowel diseases, Crohn's disease and thalassemia. PTG-100 was the most advanced candidate in the company’s pipeline.
Shares of the company fell 57.2% following the news. In fact, Protagonist’s shares are down 57.9% so far this year, underperforming the industry’s decline of 5.9% in that period.
The discontinuation decision was based on a planned interim analysis of PROPEL study by an independent Data Monitoring Committee. The committee deemed that the study will not be able to achieve its primary endpoint of clinical remission. The interim analysis was done on data from first 65 patients who had completed the 12-week treatment with PTG-100. The total patient population of the study was 240.
However, the company is conducting an extensive review of the data from the study. It has notified that it will stop further treatment of patients currently in the study.
Protagonist has also postponed its decision to initiate a phase II/III on PTG-100 in patients with chronic pouchitis, as it awaits full review of the interim data from the PROPEL study.
Apart from PTG-100, the company is developing two candidates – PTG-200 and PTG-300 – in two separate phase I studies for the treatment of Crohn's disease and beta-thalassemia, respectively.
The company has a worldwide license and collaboration agreement with Johnson & Johnson (JNJ - Free Report) for the development of PTG-200. Moreover, PTG-300 enjoys orphan drug designation in the United States.
Protagonist currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the health care sector include Horizon Pharma Public Limited Company and Ligand Pharmaceuticals Incorporated (LGND - Free Report) . Both the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Horizon Pharma’s earnings estimates increased 10% to $1.43 for 2018 and 15% to $1.77 for 2019 over the last 30 days. The company delivered a positive earnings surprise in three of the four trailing quarters with an average beat of 68.92%.
Ligand’s earnings per share estimates increased 11% to $4.20 for 2018 and 12% to $5.32 for 2019 over the last 30 days. The company delivered a positive earnings surprise in three of the four trailing quarters with an average beat of 24.88%. The company’s shares have increased 23% so far this year.
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And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Protagonist Therapeutics Stalls Ulcerative Colitis Study
Protagonist Therapeutics, Inc. (PTGX - Free Report) announced that it has discontinued phase IIb study – PROPEL – on its ulcerative colitis ("UC") candidate, PTG-100.
Protagonist is a small biotech company focused on developing treatment for inflammatory bowel diseases, Crohn's disease and thalassemia. PTG-100 was the most advanced candidate in the company’s pipeline.
Shares of the company fell 57.2% following the news. In fact, Protagonist’s shares are down 57.9% so far this year, underperforming the industry’s decline of 5.9% in that period.
The discontinuation decision was based on a planned interim analysis of PROPEL study by an independent Data Monitoring Committee. The committee deemed that the study will not be able to achieve its primary endpoint of clinical remission. The interim analysis was done on data from first 65 patients who had completed the 12-week treatment with PTG-100. The total patient population of the study was 240.
However, the company is conducting an extensive review of the data from the study. It has notified that it will stop further treatment of patients currently in the study.
Protagonist has also postponed its decision to initiate a phase II/III on PTG-100 in patients with chronic pouchitis, as it awaits full review of the interim data from the PROPEL study.
Apart from PTG-100, the company is developing two candidates – PTG-200 and PTG-300 – in two separate phase I studies for the treatment of Crohn's disease and beta-thalassemia, respectively.
The company has a worldwide license and collaboration agreement with Johnson & Johnson (JNJ - Free Report) for the development of PTG-200. Moreover, PTG-300 enjoys orphan drug designation in the United States.
Protagonist Therapeutics, Inc. Price
Protagonist Therapeutics, Inc. Price | Protagonist Therapeutics, Inc. Quote
Zacks Rank & Other Stocks to Consider
Protagonist currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the health care sector include Horizon Pharma Public Limited Company and Ligand Pharmaceuticals Incorporated (LGND - Free Report) . Both the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Horizon Pharma’s earnings estimates increased 10% to $1.43 for 2018 and 15% to $1.77 for 2019 over the last 30 days. The company delivered a positive earnings surprise in three of the four trailing quarters with an average beat of 68.92%.
Ligand’s earnings per share estimates increased 11% to $4.20 for 2018 and 12% to $5.32 for 2019 over the last 30 days. The company delivered a positive earnings surprise in three of the four trailing quarters with an average beat of 24.88%. The company’s shares have increased 23% so far this year.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>