Welcome to our dedicated page for Prometheus Biosciences news (Ticker: RXDX), a resource for investors and traders seeking the latest updates and insights on Prometheus Biosciences stock.
Prometheus Biosciences, Inc. (symbol: RXDX) is a pioneering biopharmaceutical company dedicated to enhancing healthcare for patients with gastrointestinal and autoimmune diseases. The company is committed to the discovery, development, and commercialization of novel precision therapeutics and companion diagnostics. Their innovative approach targets the unmet needs in the field, offering a beacon of hope for many patients.
Prometheus Biosciences has made significant strides in recent years. One of their core strengths lies in their robust research and development pipeline, which includes a range of promising products that are currently in various stages of clinical trials. These products are designed to provide targeted treatment options, enhancing both efficacy and safety for patients.
Financially, Prometheus Biosciences has demonstrated resilience and growth. The company has forged strong partnerships with numerous organizations, including a notable collaboration with Merck & Co., Inc. These collaborations have not only bolstered their financial standing but also expanded their reach and impact in the biopharmaceutical industry.
Their portfolio includes several advanced therapeutics and diagnostics that leverage cutting-edge technology and deep scientific expertise. By focusing on precision medicine, Prometheus Biosciences aims to deliver treatments that are tailored to the individual characteristics of each patient’s disease, thereby improving outcomes and quality of life.
As they continue to innovate and expand, Prometheus Biosciences remains committed to advancing healthcare and making a significant impact on the lives of patients worldwide.
Cellino Biotech has appointed Chris Gibson, Ph.D., to its Board of Directors. Gibson, the Co-Founder and CEO of Recursion (NASDAQ:RXDX), brings significant experience in AI-driven biotechnology and pharmaceutical partnerships. Under his leadership, Recursion has established partnerships with major companies like Roche/Genentech, Bayer, and NVIDIA, and is expecting 10 clinical readouts in the next 18 months following its proposed combination with Exscientia. Cellino's focus is on autonomous, closed biomanufacturing for personalized regenerative medicines, utilizing technologies including optical bioprocessing and image-guided co-pilots.
Merck has entered into a definitive agreement to acquire Prometheus Biosciences (NASDAQ: RXDX) for $200 per share, totaling approximately $10.8 billion. This acquisition aims to enhance Merck's immunology portfolio, particularly in addressing unmet needs in treating autoimmune diseases such as ulcerative colitis (UC) and Crohn's disease (CD).
The lead candidate, PRA023, is a monoclonal antibody targeting TL1A, with promising results from late-stage clinical trials. The deal is subject to shareholder approval and regulatory conditions, with expectations for closing by Q3 2023. Merck believes this acquisition will bolster its innovation strategy and expand its market presence in the biopharmaceutical sector.
Prometheus Biosciences, a clinical-stage biotechnology company (Nasdaq: RXDX), announced its participation at the Oppenheimer 33rd Annual Healthcare Conference on March 13, 2023, at 10:40 AM ET. The company specializes in precision medicine for immune-mediated diseases. Its lead candidate, PRA023, is a humanized IgG1 monoclonal antibody aimed at treating conditions such as ulcerative colitis and Crohn's Disease. Prometheus plans to advance PRA023 into Phase 3 trials later this year. A live and archived webcast of the presentation will be available on the company's Investor website.
Prometheus Biosciences (RXDX) reported strong results from its PRA023 Phase 2 studies for ulcerative colitis (UC) and Crohn's disease (CD), showing high efficacy and favorable safety profiles. The company plans to advance PRA023 to Phase 3 trials in 2023 and has initiated a third Phase 2 for systemic sclerosis-associated interstitial lung disease (SSc-ILD). Additionally, PRA052, a new monoclonal antibody targeting CD30L, has entered Phase 1 trials. Prometheus boasts over $700M in cash post a successful $550M public offering. Revenue for 2022 was $6.8M, with R&D expenses increasing significantly due to ongoing trials.
Prometheus Biosciences (RXDX) announced two upcoming oral presentations for its lead candidate, PRA023, at the 18th Congress of the European Crohn’s and Colitis Organisation (ECCO) in Copenhagen, scheduled for March 3 and 4, 2023. The presentations will highlight promising Phase 2 results for PRA023 in treating Crohn's Disease and Ulcerative Colitis, including data on primary and secondary endpoints from recent studies. The company aims to advance PRA023 to Phase 3 trials later this year, demonstrating its commitment to addressing immune-mediated diseases using its precision medicine approach.
Prometheus Biosciences, Inc. (Nasdaq: RXDX), a clinical-stage biotechnology company, announced a fireside chat at the SVB Securities Global Biopharma Conference on February 14, 2023, at 12:00 PM ET. The event aims to discuss the company’s innovative approaches in developing therapeutics for immune-mediated diseases.
The company’s lead candidate, PRA023, is an IgG1 humanized monoclonal antibody targeting TL1A, showing promise for conditions like ulcerative colitis and Crohn’s Disease. A live and archived webcast will be available on the Prometheus Biosciences investor page.
Prometheus Biosciences, Inc. (Nasdaq: RXDX) has announced that Mark McKenna, Chairman and CEO, alongside Dr. Allison Luo, Chief Medical Officer, will present a company overview at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 3:45 p.m. PST. The presentation will be available for live streaming on Prometheus’ website and for 30 days afterward. The company specializes in precision medicine for immune-mediated diseases and is developing its lead candidate, PRA023, for conditions like ulcerative colitis and Crohn's disease.
Prometheus Biosciences (Nasdaq: RXDX) announced the pricing of an underwritten public offering of 4,545,455 shares of common stock at $110 per share, aiming to raise approximately $500 million before expenses. The offering will close around December 13, 2022, pending customary conditions. Funds will support the development of therapeutic programs like PRA023 and PRA052, along with general corporate purposes. The company granted underwriters a 30-day option to buy up to 681,818 additional shares. Goldman Sachs, SVB Securities, Jefferies, and Guggenheim are managing the offering.
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