Shares of Morphic Therapeutic (NASDAQ:MORF) climbed Tuesday after it reported successful results from its Phase 2a study of MORF-057, an oral small molecule inhibitor of the α4β7 integrin, in adults with moderate to severe ulcerative colitis (UC).
During the trial, patients with moderate-to-severe ulcerative colitis receiving MORF-057 experienced a statistically significant reduction in the RHI score and a 25.7% clinical remission rate as measured by the mMCS. In addition, MORF-057 was generally well tolerated in EMERALD-1 with no safety signal observed.
“We are emboldened by these positive results and excited to continue to enroll the ongoing EMERALD-2 Phase 2b study,” commented Praveen Tipirneni, MD, Chief Executive Officer of Morphic Therapeutic. “I couldn't be more thankful to these patients and investigators, and proud of our team for advancing MORF-057 much closer to our goal of providing a safe and effective treatment option for IBD patients, in pill form.”
Commenting on the data, Wells Fargo analysts said MORF-057's activity in UC “looks solid.”
“At first blush, MORF-057's Ph2a results in ulcerative colitis (UC) mostly achieved our bull case scenario demonstrating meaningful activity and solid safety. No question, MORF has a drug,” said the analysts.
They added, “Approx ~26% of pts achieved CR based on the modified Mayo score and ~46% a clinical response at 12wks. Impressively, 23% achieved histo remission (RHI≤3) while mgmt said all pts were actually ≤2. That is a tough endpoint and a high bar particularly when baseline RHIs were 23. The mean RHI reduction from baseline was 6.4, which was stat sig (p=0.002). All these data points tell the same story of MORF's activity in UC with the caveat there was no [placebo].”
Morphic Therapeutic shares climbed over 30% Tuesday morning after the study results were released.