Prometheus Biosciences, Inc is moving PRA023 into Phase III clinical studies for ulcerative colitis and Crohn's disease after two Phase II studies read out positively and boosted confidence that the novel tumor necrosis factor-like ligand 1A (TL1A) inhibitor could be a potential first-in-class treatment option for the two immune-mediated diseases.
The Phase II efficacy data surpassed investor expectations and led the company's stock price to catapult
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