Protagonist drug hits goals in pivotal study of rare blood cancer

An experimental medicine from Protagonist Therapeutics stabilized red blood cells and improved symptoms in patients with a rare blood cancer — achieving the efficacy goals of a Phase 3 study.

Based on the positive study results, announced Monday, Protagonist and its partner Takeda will submit the drug, called rusfertide, for approval in the U.S. and Europe later this year. The companies are developing the drug as a new treatment for polycythemia vera, a type of blood cancer that causes the overproduction of red blood cells.

Shares of Protagonist were up 9% to $39.44 in early Monday trading.

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