$NOVO B (+6,8 %)
$NVO (+7,05 %)
$BMY (+2,77 %)
DUBLIN - $NOVO B (+6,8 %) has initiated a Phase 3 clinical trial for Coramitug, a potential first-in-class antibody that targets ATTR amyloidosis with cardiomyopathy (ATTR-CM) and breaks down amyloid deposits. This was announced in a press release from Prothena Corporation plc (NASDAQ:PRTA) company. Prothena shares, currently trading at $10.53, have shown strong momentum over the last six months, gaining 41.72%, although they are down 23.97% year-to-date.
The Phase 3 CLEOPATTRA study will evaluate the effects of Coramitug versus placebo on cardiovascular endpoints in patients with ATTR-CM. This development step follows the recent presentation of Phase 2 clinical trial results on November 10 at the American Heart Association Scientific Sessions, which were simultaneously published in the AHA journal Circulation.
Coramitug, formerly known as PRX004, was developed to remove the amyloid deposits associated with disease pathology in both hereditary and wild-type ATTR amyloidosis. The antibody is designed to improve organ function by degrading deposited amyloid and preventing further organ deposition by reducing circulating non-native TTR.
$NOVO B (+6,8 %) acquired the worldwide rights to Prothena's ATTR amyloidosis business and pipeline in July 2021. Under the terms of the agreement, Prothena may receive payments of up to $1.2 billion upon achievement of clinical development and sales milestones, of which $100 million has been realized to date. The company will receive an additional clinical milestone payment if pre-specified inclusion criteria are met in the CLEOPATTRA trial.
ATTR amyloidosis with cardiomyopathy is a disease in which abnormal protein deposits accumulate in the heart and impair its function. Current treatments for ATTR-CM aim to stabilize or reduce the production of the native TTR tetramer, while Coramitug's degradative mechanism of action represents a potentially complementary approach.
The information comes from a press release issued by Prothena Corporation.
In other recent news, there has been a lot of movement in the price targets for Prothena shares, with several analyst firms making significant adjustments. H.C. Wainwright raised its price target for Prothena from $20 to $30 and maintained its "Buy" rating. The reason given was that the market was overlooking the company's partner pipeline, which includes promising projects in Phase 3 and Phase 2. Piper Sandler also raised its price target from $15 to $36, emphasizing the potential for significant net sales royalties and milestone payments from Prothena's pipeline. Citizens JMP, however, took a different tack, lowering its price target from $29 to $11, citing concerns following the results of the Phase 1 PRX012 trial in Alzheimer's patients.
Here's something that might interest you: - https://de.investing.com/news/company-news/novo-nordis-startet-phase3studie-zur-behandlung-von-attramyloidose-93CH-3229358
