** Shares of drug developer Protagonist Therapeutics PTGX.O rise 9% to $41 premarket
** PTGX and Takeda 4502.T says its drug to treat a type of blood cancer met the main goal of proportion of patients achieving a response in a late-stage study
** Co says 77% of patients who were treated with the drug, rusfertide, responded to it, compared with 33% that received placebo
** Drug was tested in patients with the rare blood cancer, polycythemia vera, who require regular withdrawal of blood (phlebotomy) to manage their condition
** Co says there was no evidence of an increased risk of cancer in rusfertide-treated patients compared to those on placebo
** PTGX rose 23.5% in the last 12 months
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.