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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.
Prometheus Biosciences (Nasdaq: RXDX) reported strong financial results for Q3 2021, with cash reserves of $279 million, a significant increase from $54 million at year-end 2020. The company initiated two Phase 2 trials for PRA023, targeting ulcerative colitis and Crohn’s disease, expecting topline data by Q4 2022. Additionally, Prometheus enrolled over 1,500 patients in its Enroll360 platform to enhance clinical trial efficiency. Collaboration revenue reached $1 million for Q3 2021, up from $0.4 million a year earlier, driven by partnerships.
Prometheus Biosciences, a clinical-stage biotechnology company focusing on precision medicine for immune-mediated diseases, announced upcoming presentations at several investor conferences in November and December.
- Credit Suisse 30th Annual Healthcare Conference – November 9 at 4:20 PM EST
- Guggenheim 3rd Annual Neuro/Immunology Conference – November 15 at 10:20 AM EST
- Jefferies London Healthcare Conference – November 16 at 1:40 PM EST
- Stifel 2021 Healthcare Conference – November 16 at 4:00 PM EST
- Piper Sandler 33rd Annual Healthcare Conference – November 22 at 10:00 AM EST
- Evercore ISI 4th Annual HealthCONx Conference – December 2 at 3:55 PM EST
Prometheus Biosciences, Inc. (Nasdaq: RXDX) will participate in a fireside chat at the Jefferies Virtual Next Generation IBD Therapeutics Summit on October 19, 2021, at 11:30 a.m. ET. The session will feature Mark McKenna, CEO, and Allison Luo, M.D., CMO. Investors and interested parties can access a live and archived webcast through the company's website. Prometheus specializes in precision medicine for immune-mediated diseases, particularly inflammatory bowel disease (IBD), with its lead candidate PRA023 currently in Phase 2 trials for Ulcerative Colitis and Crohn's Disease.
Prometheus Biosciences (Nasdaq: RXDX) initiated Phase 2 studies for its lead product, PRA023, focusing on Ulcerative Colitis (UC) and Crohn’s disease (CD). The global Phase 2 ARTEMIS-UC and Phase 2a APOLLO-CD trials will evaluate the drug's efficacy in patients who have failed conventional therapies. Prometheus reported a strong cash position of $304 million as of June 30, 2021, significantly up from $54.2 million at year-end 2020. Additionally, revenue slightly increased to $0.3 million for the second quarter 2021 compared to $0.2 million in Q2 2020.
Prometheus Biosciences (Nasdaq: RXDX) announced the unexpected passing of its Chairman, Dr. Tadataka Yamada, on August 4, 2021. Dr. Yamada, who served as Chairman since June 2018, was a significant figure in healthcare and biotechnology, known for his extensive contributions and leadership across multiple organizations. His impact spanned various roles, including Chief Medical Officer at Takeda Pharmaceuticals and President of the Bill & Melinda Gates Foundation Global Health Program. The company expressed deep condolences to his family and acknowledged his legacy in the healthcare community.
Prometheus Biosciences (Nasdaq: RXDX) announces the initiation of the APOLLO-CD Phase 2a trial for PRA023, targeting moderate-to-severe Crohn's disease.
This trial, employing a precision medicine approach, includes 50 subjects receiving a 12-week dosing regimen. Key endpoints will evaluate endoscopic improvement as measured by the Simple Endoscopic Score for Crohn's Disease. Final Phase 1a results for PRA023 are expected in Q4 2021, with other trials in ulcerative colitis also in motion. Prometheus aims to address significant unmet medical needs in inflammatory bowel disease through innovative therapeutic solutions.
Prometheus Biosciences (Nasdaq: RXDX) has initiated the Phase 2 ARTEMIS-UC clinical trial evaluating PRA023 for moderate-to-severe ulcerative colitis (UC). This trial is placebo-controlled and aims to assess the efficacy and safety of PRA023, with the first patient enrolled. Following a successful Phase 1a trial, the company anticipates sharing further details during the R&D Day on July 28, 2021. PRA023 is a monoclonal antibody targeting TL1A, aimed at improving outcomes for IBD patients, including those with Crohn's disease.
Prometheus Biosciences (Nasdaq: RXDX) will host a virtual R&D Day for analysts and investors on July 28, 2021, at 9:00 a.m. ET, focusing on its lead candidate PRA023 for treating Inflammatory Bowel Disease (IBD). The agenda includes presentations on the science of TL1A and the clinical trial approach for PRA023 in Ulcerative Colitis and Crohn's Disease. Renowned experts will participate in discussions, led by CEO Mark McKenna. Registration for the event and webcast information is available on the company’s website.
Prometheus Biosciences (NASDAQ: RXDX) has received a $10 million milestone payment from Dr. Falk Pharma following the selection of PR600 as a clinical candidate for treating inflammatory bowel disease (IBD). The payment is part of their collaboration that began in July 2020, aimed at developing and commercializing PR600, with an Investigational New Drug Application (IND) expected to be filed in Q3 2022. Prometheus retains exclusive commercialization rights in the U.S., while Dr. Falk holds rights in Europe and other regions.
Prometheus Biosciences (Nasdaq: RXDX) announced that Mark McKenna, President and CEO, along with Laurens Kruidenier, CSO, will present at the Jefferies Virtual Healthcare Conference on June 1, 2021, at 11:30 am ET. The company is pioneering a precision medicine approach for treating immune-mediated diseases, particularly inflammatory bowel disease (IBD). A live and archived webcast of the presentation will be available on Prometheus Biosciences' website.
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