(RTTNews) - Shares of clinical-stage biopharmaceutical company Protagonist Therapeutics, Inc. (PTGX) are rising more than 10% Thursday morning. The company said its drug candidate hepcidin mimetic PTG-300 for the treatment polycythemia vera, a rare form of blood cancer, has got Orphan Drug Designation from the FDA. Protagonist had recently announced initial positive Phase II results of PTG-300 in patients with polycythemia vera.
The stock is currently trading at $17.92, close to its 52-week high of $18.70.
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