Merck & Co., Inc.: TL1A successful in first UC Ph3 study, await more details on profile

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Merck & Co., Inc.: 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