Protagonist aborts lead ulcerative colitis program after drug fizzles in PhIIb, stock craters
The lead therapy at Protagonist has flunked a mid-stage trial, pushing the Newark-based company to pull the plug on its ulcerative colitis drug PTG-100.
The news is tanking the company’s stock $PTGX, which is down nearly 60% in pre-market trading.
The decision came after an interim analysis of a Phase IIb study, which found the trial to be “futile based on an analysis of the primary endpoint of clinical remission.” No safety concerns were noted in the analysis.
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