FX.co ★ Palatin Completes Patient Enrollment In Phase 2 Study Of PL8177 In Ulcerative Colitis, Shares Up 16%

Palatin Technologies, Inc. witnessed a 16% rise in its share value on Monday following its announcement of the successful completion of patient enrollment for a Phase 2 trial of PL8177, an orally administered melanocortin agonist designed to treat ulcerative colitis.

This mid-stage study focuses on assessing PL8177’s safety, tolerability, efficacy, pharmacokinetics, and biomarkers in adult sufferers of active ulcerative colitis. The final patient evaluation is projected to take place in the first quarter of 2025, with topline results anticipated shortly thereafter.

"Ulcerative colitis is a chronic, often debilitating, and increasingly common ailment impacting over a million individuals in the United States," remarked Carl Spana, Ph.D., President and CEO of Palatin.

“Existing data have shown that oral PL8177 promotes the restoration of diseased colons towards a healthier state and significantly reduces harmful inflammation. By addressing inflammation rather than merely inhibiting it, PL8177 has the potential to deliver effectiveness without the safety and tolerability issues associated with immunosuppressive therapies and steroid treatments, which bear notable safety concerns. Furthermore, as a once-daily oral pill, PL8177 could serve as a preferable and more convenient alternative for ulcerative colitis patients hesitant about injectable therapies.”

Ulcerative colitis, a variant of inflammatory bowel disease (IBD), triggers inflammation in the digestive tract, potentially leading to damage in the colon lining.