Portola Pharmaceuticals (PTLA) is a mid-cap stock with a market capitalization of ~$3 billion. It has a weight of 0.28% in the iShares Nasdaq Biotechnology ETF (IBB). PTLA is a biopharmaceutical company focused on the development of novel therapeutics in the area of thrombosis, other hematologic disorders, and inflammation for patients who currently have limited or no approved treatment options.
PTLA revenue is mainly generated from collaboration and license and the company is yet to generate commercial product revenue. In 2014, the revenue stood at $9.62 million.
Pipeline products of Portola
Portola has three key products in its pipeline:
- Betrixaban is a novel oral once-daily inhibitor of Factor Xa in development for extended duration VTE prophylaxis in acute medically ill patients for 35 days of in-hospital and post-discharge use. It is estimated that in G7 countries, there are 22.5 million acute medically ill patients. Acute medically ill patients are those who are hospitalized for severe non-surgical conditions, such as heart failure, stroke, infection, rheumatic disorders, and pulmonary disorders. The drug is in phase three trials.
- Andexanet alfa, an FDA-designated breakthrough therapy, is a recombinant protein designed to reverse the anticoagulant activity in patients treated with a Factor Xa inhibitor. Andexanet alfa has potential indications to treat patients who are taking a direct or indirect Factor Xa inhibitor and who suffer a major bleeding episode or require emergency surgery. PTLA has initiated two phase three ANNEXA studies: one with Bristol-Myers Squibb (BMY) and Pfizer (PFE), and the other one with Bayer (BAYZF) and Janssen Pharmaceuticals.
- Cerdulatinib is an orally available, potent dual spleen tyrosine kinase (or Syk) and janus kinase (or JAK) inhibitor. Scientists have demonstrated that both Syk and JAK play key roles in various hematologic cancers and inflammatory diseases. The drug is in Phase I/IIa clinical trials.