TL1A successful in first UC Ph3 study, await more details on profile

Research evidence excerpt

TL1A successful in first UC Ph3 study, await more details on profile

Update

June 22, 2026 12:30 PM GMT

Morgan Stanley & Co. LLCMMerck & Co., Inc. | North America Terence C Flynn, Ph.D.

Equity Analyst

TL1A successful in first UC Ph3 Terence.Flynn@morganstanley.comAlexander Yevdokimov, Ph.D. +1 212 761-2230

Research Associate

Alexander.Yevdokimov@morganstanley.com +1 212 761-2167

study, await more details on Hailey Horowitz

Hailey.Horowitz@morganstanley.com +1 212 761-5264

profile Damien H Kerner

Damien.H.Kerner@morganstanley.com +1 212 761-3829

MRK announced positive topline results from the Ph3 ATLAS-UC induction-only

Chris Yu, J.D., Ph.D.

study (Study 2) evaluating tulisokibart (anti-TL1A mAb), in patients with Equity Analyst

moderately to severely active UC (LINK). The study met its primary endpoint of Chris.L.Yu@morganstanley.com +1 212 761-2535

Connor M Massari

clinical remission by Modified Mayo Score (MMS) at week 12, as well as key Equity Analyst

secondary endpoints. Per the release consistent with previously reported Ph2 Connor.Massari@morganstanley.com +1 212 761-2417

studies, no safety concerns were identified. We view this as an incremental positive Morgan Stanley India Company Private Limited+

Saket Agarwalfor MRK's pipeline progress (recall this asset was acquired as part of the

Prometheus deal in 2023 - LINK), but we await more details on the data as the press Saket.Agarwal@morganstanley.com +91 22 6995-4012

release did not include the phrase "clinically meaningful" (like the Sotatercept

Merck & Co., Inc. (MRK.N, MRK UN)

STELLAR release), but rather noted the ATLAS data "represent an important step

Major Pharmaceuticals | United States of America

forward" and "reinforce the potential of this novel approach designed to help

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