Protagonist Therapeutics slumps on mixed data from bowel disease drug study

Protagonist Therapeutics

25/04/2022 22:27

** Shares of drug developer  PTGX.O  down ~37% at $11.86
after the bell  
    ** Co says its ulcerative colitis drug, PN-943, improved
symptoms in patients receiving a lower dose of drug vs placebo
in mid-stage study  urn:newsml:reuters.com:*:nPn9v760ra 
    ** PTGX adds study did not meet main goal for group of
patients receiving the higher dose, or 450 milligrams of PN-943 
    ** Co says safety analysis for lower dose group, or those
receiving 150 milligrams of PN-943, was similar to that in
placebo group
    ** Ulcerative colitis is a chronic inflammatory disease of
the colon which leads to ulcers and causes abdominal pain
    ** PTGX says findings in lower-dose group provide "clear
direction on dosing regimen" for late-stage study of PN-943 
    ** Up to Monday's close, PTGX down 45% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))