Takeda Pharmaceutical Co., Ltd (NYSE:TAK) on Thursday announced positive topline results for the two pivotal Phase 3 studies of zasocitinib (TAK-279) for moderate-to-severe plaque psoriasis (PsO).
Data
The studies demonstrated superiority of zasocitinib compared to placebo for the co-primary endpoints, static Physician Global Assessment (sPGA) 0/1 and Psoriasis Area and Severity Index (PASI) 75, at week 16, with a significantly greater PASI 75 response rate seen as early as week 4 and continuing to increase through week 24.
The studies also met all 44 ranked secondary endpoints, including PASI 90, PASI 100, and sPGA 0 against placebo and Amgen Inc.’s (NASDAQ:AMGN) Otezla (apremilast), showing the potential of a convenient once-daily pill to deliver complete skin clearance for patients with PsO.
Zasocitinib was generally well-tolerated. The safety and tolerability profile of zasocitinib in the Phase 3 studies remained consistent with prior studies, including the Phase 2b plaque psoriasis study.
Takeda intends to present the results at upcoming medical congresses and plans to submit a New Drug Application with the United States Food and Drug Administration and other regulatory authorities starting in fiscal year 2026.
Zasocitinib is also being evaluated in a head-to-head study against Bristol-Myers Squibb & Co.’s (NYSE:BMY) Sotyktu (deucravacitinib) in plaque psoriasis, Phase 3 studies in psoriatic arthritis, and Phase 2 studies in Crohn’s disease and ulcerative colitis, among other indications.
Technical Analysis
Takeda Pharmaceutical Company Limited (TAK) is currently showing a mixed technical picture. The stock is trading above its 20-day and 50-day SMAs, indicating some short-term strength, but it’s also below its 100-day and 200-day SMAs, which suggests a lack of longer-term momentum.
The RSI is currently at 56.78, which is in neutral territory. This level indicates that the stock is neither overbought nor oversold, suggesting that traders should watch for potential price action in either direction.
MACD is above its signal line, indicating bullish momentum. This suggests that there could be a continuation of upward price movement if buying pressure persists.
Key support is at $14.50, while resistance is at $15.50. If the stock tests these levels, a break below support could signal further weakness, while a move above resistance might indicate a trend reversal.
The death cross occurred in November when the 50-day SMA crossed below the 200-day SMA. This is a critical signal for traders, as it often indicates a bearish trend, so caution is warranted.
Over the past 12 months, the stock has gained 13.46%, reflecting a generally positive longer-term trend. However, the recent price action suggests that traders should remain vigilant, as the stock has broken below support levels.
Currently, the stock is positioned at 71.8% of its 52-week range, which indicates it’s closer to its highs than its lows.
TAK Price Action: Takeda Pharmaceutical Co shares were up 2.80% at $14.87 at the time of publication on Thursday, according to Benzinga Pro data.
Read Next:
Photo by Veroniksha via Shutterstock
Recent Comments