Morphic’s stock falls after new data suggest lower-than-expected efficacy for its ulcerative colitis pill
Morphic Therapeutic saw its shares $MORF slide by 25% Friday to about $38 after data from a small Phase IIa trial showed its inflammatory bowel disease pill might not be better than Takeda’s Entyvio.
The abstract, published for United European Gastroenterology Week, contained a key new data point — 25.7% of the 35 patients with ulcerative colitis in the open-label study saw endoscopic improvement. While 40% of the patients in the pivotal trial for Takeda’s Entyvio saw endoscopic improvement, the population in Morphic’s study was much smaller and included more advanced patients, Jefferies analyst Michael Yee wrote in a note to investors.
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