After Protagonist Therapeutics (PTGX) shared extended follow-up data from the Phase 2b ANTHEM-UC study of icotrokinra in ulcerative colitis at the ACG 2025 meeting, Clear Street said the firm sees “unmatched commercial promise” for the drug. These “consistent and durable results” underpin Johnson & Johnson’s (JNJ) progression of icotrokinra into a Phase 3 UC trial and a Phase 2/3 Crohn’s study, adds the analyst, who keeps a Buy rating and $74 price target on Protagonist shares.
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