MORF - Morphic jumps 38% as lead asset meets key goal in mid-stage trial

2023-04-25 07:35:55 ET

Morphic Holding ( NASDAQ: MORF ) added ~38% pre-market Tuesday after announcing that its lead candidate MORF-057 reached the primary endpoint in a mid-stage trial for adults with ulcerative colitis (UC).

The EMERALD-1 Phase 2a trial enrolled 35 patients with moderate to severe UC in its main cohort, which was subject to twice daily MORF-057 in study sites in the U.S. and Poland.

As per topline data at Week 12, the oral therapy achieved the primary endpoint indicating a statistically significant decline from the baseline in the Robarts Histopathology Index (RHI), a clinical measure to evaluate the disease activity.

As for the prespecified secondary endpoint, patients showed a 2.3-point reduction in the modified Mayo Composite Score (mMCS) from the baseline and a 25.7% remission rate according to mMCS, the primary goal of the company’s placebo-controlled EMERALD-2 trial for MORF-057.

According to the company, there were no serious adverse events, and the most common adverse events were the exacerbation of UC and anemia.

“We are emboldened by these positive results and excited to continue to enroll the ongoing EMERALD-2 Phase 2b study,” Chief Executive Officer of Morphic ( MORF ) Praveen Tipirneni said.

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