Protagonist seeks an Ideal readout

The departure of a senior executive just ahead of a major catalyst for their company might be regarded as a red flag. Whether this is an accurate interpretation in the case of Protagonist Therapeutics, whose chief financial officer, Don Kalkofen, stepped down on April 1, ought to become clear in the coming weeks.

Phase 2 data on the oral α4β7 integrin inhibitor PN-943 in ulcerative colitis are due in the second quarter. This project has been somewhat overshadowed by rusfertide’s up-and-down fortunes, but a positive readout looks fairly likely – and the fact that Protagonist has already appointed a replacement for Mr Kalkofen could also be construed as a good sign.