** Drug developer Protagonist Therapeutics' PTGX.O shares rise 30.4% to $50.02
** PTGX says the mid-stage study of all three doses of once-daily experimental drug, icotrokinra, conducted by its collaboration partner Johnson & Johnson JNJ.N met its main goal in patients with ulcerative colitis
** Ulcerative colitis, a form of inflammatory bowel disease $(IBD)$, is a condition in which the lining of the large intestine (colon) and rectum become inflamed
** Co says the study showed significant improvements over placebo in clinical recovery, symptom relief, and showed reduction in signs of disease severity within 12 weeks
** Co says the study achieved a response rate of 63.5% vs 27% for placebo
** PTGX had risen 24.2% in the past 12 months, as of last close
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.