Protagonist Therapeutics, Inc. (PTGX) Stock Plunged 29.27% Pre-Market, Here’s Why       

Protagonist Therapeutics, Inc. (PTGX) stock plummeted 29.27% in the pre-market trading session at the price of $18.05 despite no fundamental development. 


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PTGX is a leading biopharmaceutical corporation. The firm has several peptide-based chemical entities in clinical development, all originating from its proprietary technology. The company is currently evaluating the IDEAL Phase-II clinical study for patients with ulcerative colitis. 

PTGX Appointed Asif Ali 

On 28th March 2022, PTGX reported appointing Asif Ali as the company’s chief financial officer and executive vice president. The appointment will become effective from 15th April 2022. Asif will be responsible for supervising all finance-related operations across the company.  

Before this role, Asif has served at Theravance Biopharma as its chief accounting officer. His previous work at Depomed as its vice president and controller included managing four product acquisitions, five product launches, and financing from the sale of royalties. The management believes that his appointment will be a perfect addition to the company’s executive team. Asif’s in-depth industry background with administration skills will strengthen PTGX’s product pipeline. 

PTGX Market Outlook

Over the last year, PTGX has significantly advanced its product assets toward clinical development. Meanwhile, the stock published updated results for the Phase-II trial of rusfertide in PV. Most recently, PTGX has disclosed the design of its Phase-III VERIFY clinical study, which will begin this quarter. The Phase 2b clinical study of PN-235 treating plaque psoriasis had already initiated and dosed its first patient. The stock expects to report a topline data from its Phase-II IDEAL study evaluating PN-943 in ulcerative colitis by Q2 of 2022.

Conclusion 

PTGX stock has planned to strengthen the execution across all emerging and current assets in its pipeline. It will open the door for future opportunities to create more value this year. Looking onwards, PTGX will be focused on the development of its clinical product pipeline to meet rising patients’ demands.

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