Why Protagonist Therapeutics Stock Plunged Today

Why Protagonist Therapeutics Stock Plunged Today

Shares of Protagonist Therapeutics (NASDAQ: PTGX) were plunging 26.3% as of 3:39 p.m. EDT on Monday. The big decline came after the company announced that the U.S. Food and Drug Administration has placed a clinical hold on studies evaluating rusfertide. Protagonist was testing the drug in a phase 2 study targeting treatment of polycythemia vera and other blood disorders.