Takeda Pharmaceutical Co Ltd ADR (NYSE:TAK) shares rose 3.5% following the announcement of encouraging Phase 3 trial results for its investigational narcolepsy treatment, oveporexton.
The Japanese pharma giant reported that oveporexton, a potential first-in-class oral orexin receptor 2 agonist, met all primary and secondary endpoints in two Phase 3 studies—FirstLight and RadiantLight—showing statistically significant symptom improvements versus placebo in narcolepsy type 1 patients.
Designed to target the underlying orexin deficiency caused by the loss of orexin-producing neurons in the brain, oveporexton was generally well-tolerated. Common side effects included insomnia and urinary urgency/frequency, with no serious treatment-related adverse events reported.
“We are thrilled to reach this pivotal milestone for the oveporexton program,” said Takeda President and CEO Christophe Weber. “This drug highlights Takeda’s strength in developing innovative medicines for challenging conditions like narcolepsy type 1.”
Takeda plans to share detailed results at upcoming medical conferences and aims to submit a New Drug Application to the U.S. FDA and other regulators in fiscal 2025. Over 95% of study completers have enrolled in an ongoing long-term extension, underscoring patient satisfaction. The company affirmed these results will not materially impact its full-year forecast for fiscal 2026 ending March 31.
Takeda Pharmaceutical stock price
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