Protagonist and Takeda Present New 52-Week Results for PV Study at ASH
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 06 2025
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Source: Businesswire
- Sustained Efficacy: In the 52-week VERIFY study, 61.9% of polycythemia vera patients maintained absence of phlebotomy eligibility while treated with rusfertide, demonstrating the drug's long-term efficacy and safety, which could redefine clinical treatment standards.
- Reduced Treatment Burden: In the THRIVE study, the annualized phlebotomy rate for patients dropped from 9.2 to 0.7, indicating that rusfertide significantly alleviates treatment burdens and enhances quality of life, addressing a critical unmet medical need.
- Successful Study Design: The VERIFY study successfully met its primary and all key secondary endpoints with 293 patients, providing crucial data for clinical decision-making regarding rusfertide's application in polycythemia vera treatment.
- Regulatory Progress: Protagonist and Takeda are preparing to submit a New Drug Application to the FDA, indicating smooth development progress for rusfertide, which may offer new treatment options for polycythemia vera patients and enhance the company's competitive position in the biopharmaceutical sector.
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Analyst Views on PTGX
Wall Street analysts forecast PTGX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PTGX is 94.54 USD with a low forecast of 65.00 USD and a high forecast of 115.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
12 Buy
1 Hold
0 Sell
Strong Buy
Current: 81.760
Low
65.00
Averages
94.54
High
115.00
Current: 81.760
Low
65.00
Averages
94.54
High
115.00
About PTGX
Protagonist Therapeutics, Inc. is a biopharmaceutical company focused on peptide therapeutics. The Company’s clinical programs fall into two categories of diseases: hematology and blood disorders, and inflammatory and immunomodulatory diseases. Its two peptides derived from its proprietary discovery technology platform, rusfertide and icotrokinra, are in advanced Phase III clinical development. Its rusfertide (PTG-300) is an injectable hepcidin mimetic in development for the potential treatment of polycythemia vera (PV) and other blood disorders. Icotrokinra, an orally delivered IL-23R specific antagonist for the potential treatment of psoriasis, psoriatic arthritis (PsA), ulcerative colitis and inflammatory bowel disease (IBD) indications. The Company also has a pre-clinical stage oral drug discovery program addressing clinically and commercially validated targets, including the IL-17 oral peptide antagonist PN-881, an oral hepcidin program, and an oral obesity program.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Takeda Submits NDA for Rusfertide, Potential $400M Opt-Out Payment
- NDA Submission: Takeda Pharmaceutical and Protagonist Therapeutics announced the submission of a New Drug Application for rusfertide targeting polycythemia vera, supported by positive 32-week primary analysis and 52-week results from the Phase 3 VERIFY study, which could open new revenue streams for the company.
- Triggering Agreement Terms: The NDA submission initiates a 120-day decision period, during which Protagonist can opt-out within a subsequent 90-day window, potentially securing up to $400 million in opt-out payments, thereby enhancing the company's cash flow.
- Milestone Payments and Royalties: Should Protagonist opt-out, it would be eligible for additional milestone payments and tiered royalty rates of 14-29% on worldwide net sales, significantly boosting its future revenue potential and financial stability.
- Market Reaction: Following the announcement, Takeda's stock traded down 0.13% on the NYSE, while Protagonist's stock rose 0.37% on Nasdaq, reflecting a cautiously optimistic market sentiment regarding the new drug application.
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