Protagonist Therapeutics develops peptide-based therapeutics using a proprietary discovery platform, with programs spanning inflammation and immunology, hematology and metabolic disease. Company news centers on ICOTYDE™ (icotrokinra), an oral IL-23 receptor-targeted peptide approved for moderate-to-severe plaque psoriasis, and rusfertide, a hepcidin mimetic peptide for polycythemia vera developed with Takeda.
Recurring updates also cover collaboration economics with Johnson & Johnson's Janssen Biotech and Takeda, clinical and regulatory milestones, R&D spending on wholly owned discovery programs, financial results, investor conference participation and equity-based inducement awards under Nasdaq rules.
Protagonist Therapeutics (PTGX) announced positive topline results from the FRONTIER 1 Phase 2b trial of JNJ-2113, an oral IL-23 receptor antagonist for moderate-to-severe plaque psoriasis. The study involved 255 patients, showing that JNJ-2113 met its primary endpoint with a statistically significant improvement (PASI-75) at Week 16 compared to placebo across all treatment groups. Treatment was well tolerated, with no notable differences in adverse events. Protagonist anticipates progressing JNJ-2113 to Phase 3 trials, aiming for milestone payments of up to $855 million from its collaboration with Janssen Biotech.
Protagonist Therapeutics (Nasdaq: PTGX) announced that CEO Dinesh V. Patel will present at the 41st Annual J.P. Morgan Healthcare Conference from January 9-12, 2023, in San Francisco. The presentation is scheduled for January 11 at 7:30 a.m. PT, held at the Westin St. Francis. Protagonist is advancing its lead drug candidate, rusfertide, for polycythemia vera in a global Phase 3 trial, alongside a partnership with Janssen Biotech for PN-235, aimed at treating psoriasis and inflammatory bowel diseases. A webcast will be available on the company’s investor website.
Protagonist Therapeutics (Nasdaq: PTGX) announced that Dr. Dinesh V. Patel, President and CEO, will participate in a fireside chat at the JMP Securities Hematology and Oncology Summit from December 6-7, 2022. The chat is scheduled for December 6, 2022, at 11:40 a.m. ET. A webcast will be accessible for 90 days on Protagonist's Investors section. The company is advancing its lead drug candidate, rusfertide, in a global Phase 3 study for polycythemia vera, and has partnered with Janssen Biotech on PN-235 for psoriasis and inflammatory bowel disease.
Protagonist Therapeutics (PTGX) announced the granting of inducement awards to Dr. Arturo Molina, its new Chief Medical Officer, on November 15, 2022. Dr. Molina received options to purchase 127,500 shares and restricted stock units for 21,250 shares, with an exercise price of $8.04 per share. The options and RSUs will vest over four years. This award aligns with Nasdaq rules and emphasizes the company's commitment to attract key talent. Protagonist is advancing its drug candidate rusfertide in a Phase 3 study for polycythemia vera, alongside a partnership with Janssen for the development of PN-235.
Protagonist Therapeutics (Nasdaq: PTGX) continues its Phase 3 VERIFY clinical study of rusfertide for polycythemia vera (PV) amidst operational hiring challenges. Dr. Arturo Molina has been appointed as the new Chief Medical Officer to enhance clinical development efforts. The company plans to present three posters at the ASH Annual Meeting in December. Financially, Protagonist reported a net loss of $31.2 million in Q3 2022, with cash and equivalents of $267.4 million expected to cover operations through 2024. Revenue from collaboration agreements decreased significantly.
Protagonist Therapeutics (PTGX) announced that three abstracts related to its rusfertide program will be presented at the 64th Annual ASH Meeting from December 10-13, 2022, in New Orleans. The presentations include a Phase 3 study on rusfertide in patients with Polycythemia Vera (VERIFY), a Phase 2 subgroup analysis of adverse events (REVIVE), and an efficacy study of a rusfertide analog in a mouse model for hereditary hemochromatosis. Protagonist owns marketing rights to rusfertide, which is in the final stages of clinical development.
Protagonist Therapeutics has appointed Dr. Arturo Molina as Chief Medical Officer, effective November 7, 2022. Dr. Molina, an accomplished hematologist-oncologist, will lead the Phase 3 VERIFY study of rusfertide for polycythemia vera and enhance the company’s clinical and operational strategies. His prior experience includes roles at Sutro Biopharma and Johnson & Johnson, underscoring a strong track record in clinical development. The focus on rusfertide's potential to transform treatment highlights the company’s commitment to advancing innovative therapies.
Protagonist Therapeutics (Nasdaq: PTGX) announced an inducement award for newly hired Vice President of Pharmacovigilance, Dr. Pedro Oyuela, on September 15, 2022. The award includes an option to purchase 35,000 shares at an exercise price of $8.27, the closing price on the grant date. The shares will vest over four years, with 25% vesting after one year and the remainder in equal monthly installments. This grant complies with Nasdaq rules and aims to incentivize Dr. Oyuela's employment.
Protagonist Therapeutics (PTGX) reported its Q2 2022 financial results with a net loss of $41.0 million, or $0.84 per share, compared to a loss of $30.8 million in Q2 2021. The company's cash position remains strong, totaling $291.9 million, sufficient to fund operations until the end of 2024. Protagonist is advancing its Phase 3 VERIFY study of rusfertide in polycythemia vera, with 35 sites activated globally despite slower initial enrollment. Additionally, the company is pursuing clinical development for its other candidates, PN-235 and PN-943, showcasing a commitment to innovation.
Protagonist Therapeutics (PTGX) announced an inducement award granted to newly appointed Vice President, Controller, Karen Peterson, on July 15, 2022. The award includes an option to purchase 25,000 shares at an exercise price of $9.46, reflecting the closing price on that date. The stock options will vest over four years, with 25% vesting after the first year and the rest monthly thereafter. This grant aligns with Nasdaq rules and aims to incentivize Peterson's employment with the company, which focuses on peptide-based drug development, including its lead candidate rusfertide in a Phase 3 study.