“All along our guidance has been that, look, we are doing multiple open-label studies with the intent of picking a winner,” said Protagonist Therapeutics Inc. CEO Dinesh Patel during a conference call with investors. “Today, we have picked a winner by a huge margin” in the shape of PTG-300, an injectable hepcidin mimetic for the rare blood cancer polycythemia vera (PV).
Protagonist Therapeutics Inc. stock (NASDAQ:PTGX) nosedived 47% on Tuesday after the company released preliminary results from its phase II open-label study of PTG-300, an injectable hepcidin mimetic to treat patients with transfusion-dependent beta-thalassemia.