Upon news of its inclusion in S&P index, Protagonist Therapeutics, Inc. (NASDAQ: PTGX) stock is experiencing a notable uptick on the US charts today. PTGX shares were trading 7.89% higher at $34.40 as of the most recent current-market session.
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S&P SmallCap 600 Inclusion
Encore Wire Corp. will be replaced by Protagonist Therapeutics (PTGX) in the S&P SmallCap 600 index, with effect from Wednesday, July 3, before the market opens. This move comes after Prysmian SpA (MTAA: PRY), a part of the S&P Europe 350, acquired Encore Wire, subject to final conditions. This reconfiguration is done by S&P Dow Jones Indices, the leading worldwide supplier of critical index-based data and research.
Progress In Hematology Studies
Important developments from two papers given at the European Hematology Association 2024 Congress were recently shared by Protagonist Therapeutics. These included an oral presentation featuring long-term follow-up data from the Phase 2 REVIVE study on rusfertide, a mimetic of the natural hormone hepcidin with promising therapeutic potential for polycythemia vera (PV) and other conditions.
The presentations are available on the Events and Presentations section of the Protagonist website. Dr. Kristen M. Pettit, Clinical Associate Professor at the University of Michigan Health, presented the long-term follow-up data from patients in the REVIVE study who continued into the open-label extension (OLE). The THRIVE study extends OLE for an additional two years of treatment to patients who have completed Part 3 OLE of the Phase 2 REVIVE study.
The updated long-term data revealed that adding rusfertide to therapeutic phlebotomy, with or without cytoreductive therapy, resulted in sustained control of hematocrit below the 45% threshold for up to three years. Phlebotomy usage decreased from a rate of 8.7 per year before study entry to 0.43 per year in Part 3 of REVIVE, consistent with the 0.36 per year rate observed for patients randomized to rusfertide in Part 2 of the study.
Additionally, there were reductions in red blood cell counts and continued improvement and normalization of serum ferritin levels. These extended data continue to demonstrate the positive clinical impact of rusfertide on PV patients. With up to three years of data showing substantial and sustained improvements in hematocrit levels and previous evidence of symptom improvement, rusfertide remains a promising future treatment option for polycythemia vera.
