Business
Protagonist Therapeutics Reports Second Quarter Financial Results and Provides Corporate Update
-- Company to host webinar highlighting the PTG-300 program market opportunity in polycythemia vera -- -- PTG-300 received U.S. Food and Drug Administration
About this update from Protagonist Therapeutics, Inc.
[{"type":"text","content":"-- Company to host webinar highlighting the PTG-300 program market opportunity in polycythemia vera --\n -- PTG-300 received U.S. Food and Drug Administration (FDA) Orphan Drug Designation for the treatment of polycythemia vera --\n -- Financial resources expected to support operations through mid-2023 --\n\n\nNEWARK, Calif., Aug. 6, 2020 /PRNewswire/ -- Protagonist Therapeutics, Inc. (Nasdaq: PTGX) today reported financial results for the second quarter ended June 30, 2020, and provided an update on clinical development programs.\n\"We have succeeded in bringing three differentiated candidates from de novo discovery into Phase 2 development,\" commented Dinesh V. Patel, Ph.D., Protagonist President and Chief Executive Officer. \"Each of these candidates has unique attributes that address specific unmet needs in diverse diseases, such as blood disorders with PTG-300 and inflammatory bowel disease with PTG-200 and PN-943. The hepcidin mimetic PTG-300 makes use of the iron homeostasis mechanism of a natural hormone and has demonstrated potential in the treatment of polycythemia vera. We expect to initiate a pivotal study for PTG-300 in 2021 after discussions with the regulatory agencies. PN-943 and PTG-200 are both oral, gut-restricted candidates for the potential treatment of inflammatory bowel disease. PTG-200 is an IL-23 receptor antagonist partnered with Janssen and is currently in a Phase 2 Crohn's study. We recently initiated screening of patients for our Phase 2 study of PN-943 in ulcerative colitis. Finally, we are well financed and recently raised $122 million through a successful secondary offering and use of our ATM program, which enables us to support planned operations through mid-2023.\"\nProduct Development and Corporate Update\nPTG-300: Injectable Hepcidin Mimetic for Polycythemia Vera and Other Blood Disorders\nInitial Phase 2 results reported in May 2020 in patients with polycythemia vera demonstrated clinically meaningful dose related control of hematocrit levels on individual patient basis. In June 2020, PTG-300 received U.S. Food and Drug Administration (FDA) Orphan Drug Designation for the treatment of polycythemia vera. Protagonist plans to host a webinar featuring presentations on clinical needs and market research on the potential opportunity for PTG-300 in polycythemia vera. The \"PTG-300 Opportunity Upda...