Rival ulcerative colitis drug data may bode well for Morphic Holding- Jefferies

Protagonist Therapeutics

26/04/2022 18:47

** Jefferies believes overhang on drug developer Morphic
Holding's  MORF.O  stock has been lifted after "mixed" data on
rival Protagonist Therapeutics'  PTGX.O  ulcertative colitis
drug  urn:newsml:reuters.com:*:nL3N2WO3K2
    ** Shares in MORF, which is also developing a treatment for
the inflammatory bowel disease, jump 13.8% to $33.92, after
having fallen 37% YTD, up to last close
    ** PTGX's drug missed main goal at the high dose but still
showed promising efficacy signals - brokerage
    ** Brokerage says while both PTGX and MORF's drugs have a
somewhat similar mechanism, it views MORF's drug as better and
most similar to Takeda Pharmaceutical's  4502.T  Entyvio which
is a >$3 bln bln drug
    ** Says PTGX update "opens up an attractive buying
opportunity" ahead of mid-stage data on MORF's treatment 

    

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))