Protagonist Therapeutics Shares Tumble as FDA Puts Rusfertide on Hold
September 17 2021 - 10:48AM
Dow Jones News
By Colin Kellaher
Shares of Protagonist Therapeutics Inc. fell more than 60% on
Friday after the U.S. Food and Drug Administration placed a
clinical hold on studies of rusfertide, the biopharmaceutical
company's lead investigational new drug candidate.
The Newark, Calif., company said the hold comes after benign and
malignant subcutaneous skin tumors were observed in a transgenic
mouse model study designed to detect signals related to
tumorigenicity, or the tendency to produce tumors.
Protagonist has been conducting Phase 2 studies of rusfertide in
the rare blood cancer polycythemia vera and in hereditary
hemochromatosis, a genetic disorder that can cause severe liver
disease and other health problems. The company last month had said
it expected to advance rusfertide into Phase 3 clinical development
in polycythemia vera early next year.
Protagonist on Friday said it was putting dosing of patients in
all ongoing clinical trials with rusfertide on hold, and that it
plans to work with the FDA in understanding and evaluating the
potential clinical risks of rusfertide and determining the next
steps for the development of the drug.
Protagonist shares were recently down 59.7%, to $18.57.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 17, 2021 10:33 ET (14:33 GMT)
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