Puretech Health Stock Price, News & Analysis

PureTech Health announced a successful funding round totaling $106.5 million led by new investors AXA IM Alts and The AMR Action Fund. This financing will enable the pivotal Phase 3 study of VE303, targeting recurrent C. difficile infections, set to commence by the third quarter of 2023. Additionally, it will support a Phase 2 study of VE202 for ulcerative colitis, expected to begin in the second quarter of 2023. The investment syndicate includes notable entities such as the Bill & Melinda Gates Foundation and Pfizer. Vedanta Biosciences, a PureTech-founded entity, aims to pioneer a new category of oral therapies using defined bacterial consortia, enhancing treatment efficacy and safety. This funding marks a significant step toward advancing microbiome therapeutics.

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) announced the publication of Phase 2 study results for VE303 in the Journal of the American Medical Association. This study demonstrated VE303's effectiveness in preventing recurrent Clostridioides difficile infection (CDI). The results indicate a significant reduction in CDI recurrence rates at 24 weeks and improved gut microbiome diversity. Additionally, VE303 showed a relationship between bacterial colonization and clinical response. The data were also presented at the European Congress of Clinical Microbiology and Infectious Diseases (ECCMID). VE303 utilizes a defined bacterial consortium approach, offering potential advantages over traditional fecal donor methods, including consistency and scalability.

PureTech Health plc announces its plans to release the annual report and financial results on April 28, 2023, at 2:00 AM EDT. This report will encompass financial data for the year ending December 31, 2022, along with the cash balance for Q1 2023. A presentation and conference call to discuss the results will occur at 9:00 AM EDT on the same day, with a webcast available on the company's website. Additionally, PureTech is set to provide updates on its Wholly Owned Pipeline and Founded Entities, including its commitment to environmental, social, and governance (ESG) practices. The company, known for its innovative biotherapeutics, has developed a pipeline comprising 26 candidates, with notable FDA-clear therapies like Plenity® and EndeavorRx®.

Royalty Pharma has acquired an interest in PureTech’s royalty from Karuna Therapeutics for its therapy, KarXT, valued at up to $500 million. This includes $100 million upfront and potentially $400 million based on milestones. PureTech maintains its 3.1% equity stake in Karuna and will receive milestone payments and a share of sublicense revenues. The acquisition offers non-dilutive funding for PureTech’s pipeline, which includes five clinical-stage candidates expected by year-end.

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) has announced that its President, Bharatt Chowrira, and Chief Innovation Officer, Eric Elenko, will present at the Barclays Global Healthcare Conference on March 14 at 4:05 PM EDT. A webcast of the event will be available on the company's investor relations website. PureTech is focused on advancing innovative biotherapeutics aimed at altering treatment paradigms for serious diseases. The company boasts a diverse pipeline of 26 therapeutics, including FDA-cleared and European-authorized products. Stakeholders are encouraged to view the full press release for more details.