Gold bars to be exempt from tariffs, White House clarifies
Investing.com -- Takeda Pharmaceutical Co Ltd ADR (NYSE:TAK) stock rose 3.5% following the announcement of positive Phase 3 trial results for its investigational narcolepsy treatment oveporexton.
The Japanese pharmaceutical company reported that its potential first-in-class oral orexin receptor 2 agonist met all primary and secondary endpoints in two Phase 3 studies for narcolepsy type 1. The trials, named FirstLight and RadiantLight, demonstrated statistically significant improvement compared to placebo across a broad range of symptoms.
Oveporexton aims to address the underlying orexin deficiency that causes narcolepsy type 1, a condition resulting from the loss of orexin-producing neurons in the brain. The drug was generally well-tolerated with no serious treatment-related adverse events reported. Common side effects included insomnia and urinary urgency and frequency.
"We are thrilled to reach this pivotal milestone for the oveporexton program," said Christophe Weber, president and CEO at Takeda. "Oveporexton is a testament to Takeda’s strength in discovering and developing a potential new class of medicines for difficult to treat diseases such as narcolepsy type 1."
The company plans to present detailed results at upcoming medical conferences and intends to submit a New Drug Application to the U.S. Food and Drug Administration and other global regulatory authorities in fiscal year 2025.
Takeda noted that more than 95% of participants who completed the studies enrolled in the ongoing long-term extension study, suggesting patient satisfaction with the treatment. The company stated that these results have no significant impact on its full-year consolidated forecast for the fiscal year ending March 31, 2026.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.