Portola Pharmaceuticals, Inc. (PTLA) has been putting in substantial efforts to develop its pipeline. We believe that the pipeline at Portola must deliver to facilitate the company’s long-term growth. Currently, the company does not have any marketed products.
Portola is dedicated to develop and commercialize products catering to unmet needs of patients suffering from thrombosis, other hematologic disorders and inflammation.
The company has started a phase I/II proof-of-concept study on its oral dual spleen tyrosine kinase (Syk) and janus kinase (:JAK) inhibitor candidate, PRT2070.
PRT2070 is being evaluated for patients suffering from genetically-defined hematologic cancers and patients who have not responded to prior therapy due to relapse or acquired mutations.
The open-label, multicenter, proof-of-concept study will examine oral PRT2070’s safety, pharmacokinetics and pharmacodynamics profile. In the multi dose,dose esc phase I portion of the study, the candidate will be administered to sequential dose groups at increasing dose levels until the maximum tolerated dose is ascertained. Safety and efficacy measures for cancer types discovered in the phase I part will be evaluated in the phase II part (cohort expansion).
We note that Portola has a co-development and co-commercialization agreement with Aciex Therapeutics, Inc for PRT2070. Per the agreement, each party will be responsible for its own internal research and development costs. Until the end of phase II study, Aciex will bear 60% and Portola will bear 40% of the costs related to third-party development.
We remind investors that, Portola’s another pipeline candidate PRT4445, performed encouragingly in a phase II proof-of-concept study earlier in the year. The candidate aims to reverse the Factor Xa inhibitor’s anticoagulant activity in patients suffering from uncontrolled bleeding or undergoing emergency surgery.
Portola carries a Zacks Rank #4 (Sell). Companies that currently look well-positioned include Actelion Ltd. (ALIOF) and Endo Health Solutions Inc. (ENDP) with a Zacks Rank #1 (Strong Buy) and Alexion Pharmaceuticals, Inc. (ALXN) with a Zacks Rank #2 (Buy).