BUZZ-Protagonist climbs after FDA approves oral psoriasis drug
Reuters
Mar 18
BUZZ-Protagonist climbs after FDA approves oral psoriasis drug
** Shares of Protagonist TherapeuticsPTGX.O rise 4.4% to $101.50 premarket
** Drugmaker says U.S. FDA approved its and partner Johnson & Johnson's JNJ.N oral drug Icotyde, which delivers skin clearance in patients with a form of plaque psoriasis
** Icotyde was jointly discovered by Protagonist and JNJ scientists, with Protagonist having primary responsibility through early-stage development and Johnson & Johnson assuming responsibility for further development and commercialization
** PTGX says the FDA approval triggered a $50 million milestone payment, adding it is eligible to receive 6% to 10% royalties on sales and up to $580 million in future milestone payments
** PTGX stock more than doubled in 2025
(Reporting by Christy Santhosh)
((Christy.Santhosh@thomsonreuters.com))
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