Proteon Therapeutics Inc.’s PRTO shares have gained around 7.8% after announcing encouraging results from a long-term analysis of follow-up data from a phase II study on vonapanitase last week.
The study evaluated the safety and efficacy of the candidate in patients suffering from chronic kidney disease (CKD) and undergoing surgical creation of an arteriovenous fistula (AVF) for hemodialysis. Results revealed a trend of prolonged primary patency in patients treated with vonapanitase. A statistically significant improvement in the rate of corrective procedures was also observed in patients under vonapanitase (30 mcg dose) as compared to those under placebo.
Analysis of results in the subset of patients receiving a radiocephalic AVF revealed statistically significant improvements in primary and secondary patency were observed in patients treated with vonapanitase. Also, results showed a statistically significant improvement in the rate of corrective procedures over more than three years of follow-up for vonapanitase (30 mcg dose) as compared to placebo.
We note that vonapanitase is currently being evaluated in a phase III multicenter, randomized, double-blind, placebo-controlled study in patients suffering from CKD and undergoing surgical creation of a radiocephalic AVF for hemodialysis. The enrolment process for the study is expected to be completed by the end of 2015. The company is expecting data from the study in the first quarter of 2017.
Proteon plans to start enrolment in a second phase III study on vonapanitase in the CKD indication in the second quarter of 2015. Proteon is also evaluating vonapanitase for the symptomatic peripheral artery disease indication in a phase I study.
The long-term analysis data on vonapanitase were encouraging. The successful development of vonapanitase, the lead candidate at Proteon, is crucial for the company. We expect investor focus to stay on the company’s updates on vonapanitase going forward.
Proteon currently carries a Zacks Rank #2 (Buy). Other well-ranked stocks in the health care sector include Acorda Therapeutics, Inc. ACOR, Affymetrix Inc. AFFX and Cytokinetics, Incorporated CYTK. All the stocks hold a Zacks Rank #1 (Strong Buy).
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