Good News For Sleep Disorder Patients - Takeda's Therapy Shows Promise In Mid-Stage Study
Portfolio Pulse from Vandana Singh
Takeda Pharmaceutical Co Ltd (NYSE:TAK) announced positive Phase 2b trial results for TAK-861, an oral therapy for narcolepsy type 1 (NT1), showing significant improvements in wakefulness. The company plans to initiate global Phase 3 trials in NT1 in the first half of fiscal year 2024 but will not advance TAK-861 in narcolepsy type 2 (NT2). TAK-861 was safe and well tolerated, with no serious adverse events reported. Takeda's Q3 2023 core net profit was down 9.4%. TAK shares rose 1.29% to $14.18.
February 09, 2024 | 4:46 pm
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POSITIVE IMPACT
Takeda's positive Phase 2b trial results for TAK-861 in narcolepsy type 1 and plans for Phase 3 trials could boost investor confidence, despite a recent drop in core net profit. Shares rose 1.29% to $14.18.
The positive trial results for TAK-861 in treating narcolepsy type 1 and the announcement of upcoming Phase 3 trials are significant developments that could positively impact Takeda's stock price in the short term. The increase in share price following the announcement indicates positive market reception. However, the recent decline in core net profit could temper some of the enthusiasm, making the overall short-term impact likely positive but with caution due to financial performance concerns.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100