** Drug developer Protagonist Therapeutics' PTGX.O shares rise 30.4% to $50.02
** PTGX says the mid-stage study of all three doses of once-daily experimental drug, icotrokinra, conducted by its collaboration partner Johnson & Johnson JNJ.N met its main goal in patients with ulcerative colitis
** Ulcerative colitis, a form of inflammatory bowel disease $(IBD)$, is a condition in which the lining of the large intestine (colon) and rectum become inflamed
** Co says the study showed significant improvements over placebo in clinical recovery, symptom relief, and showed reduction in signs of disease severity within 12 weeks
** Co says the study achieved a response rate of 63.5% vs 27% for placebo
** PTGX had risen 24.2% in the past 12 months, as of last close
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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