ARTICLE | Product Development

Prometheus’ PRA023 shows early-line treatment potential for ulcerative colitis, Crohn’s

Stock rises 166% as Phase II data exceed expectations, position mAb to challenge Rinvoq

December 8, 2022 12:49 AM UTC

Strong efficacy and clean safety data for Prometheus’ PRA023 in ulcerative colitis and Crohn’s disease position the therapy to compete with AbbVie’s Rinvoq or other agents after TNF biologics. The data sent the biotech’s stock to $95.80 per share, a $59.74 (166%) increase from Tuesday’s close for a market cap of more than $4 billion.

In a pair of studies, ARTEMIS-UC in ulcerative colitis and APOLLO-CD in Crohn’s, PRA023 from  Prometheus Biosciences Inc. (NASDAQ:RXDX) met its primary endpoints. PRA023 is a humanized mAb to block TL1A...