Protagonist Therapeutics Soars as FDA Approves ICOTYDE for Plaque Psoriasis, Triggers $50M Milestone [Yahoo! Finance]
Johnson & Johnson (JNJ)
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adolescents (12+ years, =40 kg), with Johnson & Johnson handling commercialization. The approval triggers an immediate $50 million milestone and starts a tiered royalty stream of 6%–10% on global net sales (weighted 7.25% at $4B); Protagonist has received $387M in collaboration payments to date and cites ~ $580M of potential future milestones. Protagonist points to broad Phase 3 support (~2,500 patients) and frames ICOTYDE as a “pipeline in a product” with ongoing studies in additional IL-23-responsive indications; near-term catalysts include a Q3 FDA decision on rusfertide and a potential $400M Takeda opt-out that would change economics. Interested in Protagonist Therapeutics, Inc.? Here are five stocks we like better. Johnson & Johnson's M&A Strategy Is the Real Story for Investors Protagonist Therapeutics (NASDAQ:PTGX) executives said March 18 that the U.S. Food and Drug Administration has approved ICOTYDE for the treatment of moderate-to-severe plaque psoriasis in adults
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