Protagonist Therapeutics' Two Investigational Candidates Target Over $10B Market, Bullish Analyst Opines
Protagonist Therapeutics' Two Investigational Candidates Target Over $10B Market, Bullish Analyst Opines
Truist Securities initiated coverage on Protagonist Therapeutics Inc (NASDAQ:PTGX), citing its first-in-class lead asset with encouraging Phase 2 data in a rare form of blood cancer and a multi-billion dollar opportunity.
Truist Securities開始對Protagonist Therapeutics Inc（納斯達克股票代碼：PTGX）進行報道，理由是其首創的主要資產，其第二階段數據令人鼓舞，這是一種罕見的血液癌和數十億美元的機會。
Protagonist Therapeutics' lead assets, rusfertide and JNJ-2113, have shown promising clinical results across various trials, leading to partnerships with Takeda Pharmaceutical Co Ltd (NYSE:TAK) and Johnson & Johnson (NYSE:JNJ).
Protagonist Therapeutics的主要資產rusfertide和 JNJ-2113 在各種試驗中均顯示出令人鼓舞的臨床結果，從而與武田製藥有限公司（紐約證券交易所代碼：TAK）和強生（紐約證券交易所代碼：JNJ）建立了合作伙伴關係。
Truist models peak end user unadjusted sales of $2.8 billion vs. the consensus of $2 billion to rusfertide, which are reflected in ~$660 million adjusted peak revenues to Protagonist Therapeutics (profit-share in US + royalties ex-US).
Truist模型的最終用戶未經調整的峯值銷售額爲28億美元，而rusfertide的預期銷售額爲20億美元，這反映在Protagonist Therapeutics調整後的約6.6億美元峯值收入（美國的利潤份額+除美國以外的特許權使用費）中。
The analyst has initiated with a Buy rating and a price target of $60. Talking about JNJ-2113, an oral IL-23, is a well-established pathway with four FDA-approved inhibitors for various conditions.
該分析師最初的評級爲買入，目標股價爲60美元。談論 JNJ-2113，一種口服 IL-23，是一種行之有效的途徑，含有四種經美國食品藥品管理局批准的用於各種疾病的抑制劑。
The analyst emphasizes that JNJ-2113 stands out as the only orally administered IL-23 inhibitor, offering a significant advantage over others in the field with improved dosing and administration.
該分析師強調，JNJ-2113 作爲唯一口服給藥的 IL-23 抑制劑脫穎而出，與該領域的其他抑制劑相比，具有顯著的優勢，其劑量和給藥效果有所改善。
Phase 2 trial data for psoriasis demonstrate improved efficacy compared to other oral treatments and IL-23 inhibitors like Johnson & Johnson's Tremfya and Stelara, though cross-trial comparisons have limitations.
儘管跨試驗比較存在侷限性，但與強生公司的Tremfya和Stelara等其他口服治療和IL-23 抑制劑相比，銀屑病的2期試驗數據表明，療效有所提高。
Truist highlights a significant unmet need in Inflammation & Immunology (I&I), particularly for an oral IL-23 treatment that could expand market opportunities and potentially lead to switching from other oral therapies with different mechanisms of action. Truist also sees potential for JNJ-2113 to be effective in additional indications.
Truist 強調了炎症與免疫學（I&I）領域尚未得到滿足的巨大需求，尤其是對口服 IL-23 治療的需求，這種需求可能會擴大市場機會，並有可能導致人們從其他具有不同作用機制的口服療法轉向。Truist 還認爲，JNJ-2113 有可能在其他適應症中發揮作用。
The analyst models around $4 billion in peak unadjusted end-user sales for JNJ-2113 in psoriasis, reflected as ~$300 million in peak adjusted royalties to the company vs. the consensus of $320 million.
分析師估計，牛皮癬 JNJ-2113 未經調整的最終用戶銷售額峯值約爲40億美元，反映爲該公司調整後的峯值特許權使用費約爲3億美元，而市場普遍預期爲3.2億美元。
The analyst also sees a potential peak opportunity of $2.7 billion in ulcerative colitis but awaits data from the trial expected in the fourth quarter of 2024 before assigning any value.
該分析師還認爲，潰瘍性結腸炎的潛在峯值機會爲27億美元，但要等待預計在2024年第四季度進行的試驗數據後再給出任何價值。
Price Action: PTGX stock is up 0.83% at $44.96 at the last check on Tuesday.
價格走勢：在週二的最後一次檢查中，PTGX股價上漲0.83％，至44.96美元。
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