Protagonist Therapeutics, Inc

Listed Company

PTGXCIK 0001377121NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-130.15M

Total Assets

$668.19M

Equity

$614.71M

Shares Out

64.31M

Op. Cash Flow

$57.67M

PTGX$140.91+149.53% · past yearDBEQ Basic

Daily closing prices

Business

Protagonist Therapeutics is an integrated discovery and development company advancing a pipeline of constrained-peptide therapeutics across inflammation & immunology, hematology, and metabolic disease. The company's clinical candidates include Icotyde (IL-23R antagonist, licensed to Johnson & Johnson), rusfertide (hepcidin mimetic, co-developed with Takeda), and wholly-owned programs PN-881 (IL-17 antagonist), PN-477 and PN-458 (obesity candidates), and PN-8047 (oral hepcidin mimetic). Protagonist operates as a clinical-stage biotech firm using a proprietary peptide-discovery platform, with collaboration agreements providing near-term regulatory and commercial milestones.

Summary from 10-K filed 2026-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
License and collaboration revenue	46	434	60	27	27
Research and development	159	138	120	126	126
General and administrative	45	43	33	32	27
Total operating expenses	204	182	154	158	153
(Loss) income from operations	−158	253	−94	−131	−126
Interest income	29	26	15	4	443,000
Other income (expense), net	27,000	250,000	−201,000	−80,000	−149,000
(Loss) income before income tax expense	−129	279	−79	−127	−126
Provision for income taxes	838,000	4	—	0	0
Net (loss) income	−130	275	−79	−127	−126
Net (loss) income per share, basic	−2.05	4.47	−1.39	−2.6	−2.71
Net (loss) income per share, diluted	−2.05	4.23	−1.39	−2.6	−2.71
Weighted-average shares used to compute net (loss) income per share, basic	64	62	57	49	46
Weighted-average shares used to compute net (loss) income per share, diluted	64	65	57	49	46

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-04-30	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	128	97	—	187	126
Marketable securities	439	322	—	155	112
Receivable from collaboration partner	121,000	165	—	—	—
Prepaid expenses and other current assets	10	8	—	4	6
Total current assets	578	592	—	356	243
Marketable securities - noncurrent	79	140	—	—	—
Property and equipment, net	4	3	—	1	2
Restricted cash - noncurrent	287,000	225,000	—	225,000	225,000
Operating lease right-of-use asset	8	9	11	954,000	3
Total assets	668	745	—	358	248
Accounts payable	5	2	—	772,000	4
Accrued expenses and other payables	28	24	—	19	25
Deferred revenue	10	19	—	—	—
Income taxes payable	—	3	—	—	—
Operating lease liability	2	510,000	—	1	3
Total current liabilities	45	47	—	21	31
Deferred revenue - noncurrent	—	12	—	—	—
Operating lease liability - noncurrent	8	10	—	—	1
Total liabilities	53	69	—	21	32
Commitments and contingencies (Note 9)	—	—	—	—	—
Preferred stock, $0.00001 par value, 10,000,000 shares authorized; no shares issued and outstanding	—	—	—	—	—
Common stock, $0.00001 par value, 180,000,000 shares authorized; 62,577,897 and 61,035,139 shares issued and outstanding as of December 31, 2025 and 2024, respectively	1,000	1,000	—	1,000	—
Additional paid-in capital	1,085	1,016	—	952	753
Accumulated other comprehensive income (loss)	641,000	−82,000	—	−105,000	−359,000
Accumulated deficit	−471	−341	—	−616	−537
Total stockholders' equity	615	675	—	337	216
Total liabilities and stockholders' equity	668	745	—	358	248

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net (loss) income	−130	275	−79	−127	−126
Stock-based compensation	46	38	29	24	16
Non-cash lease expense	2	2	2	—	—
Depreciation	1	826,000	977,000	1	813,000
Accretion of discount on marketable securities	−7	−9	−5	−549,000	2
Other	−8,000	—	194,000	—	—
Receivable from collaboration partner	165	−155	−10	—	—
Prepaid expenses and other assets	−2	−4	2	4	−3
Accounts payable	4	842,000	−3	2	−1
Accrued expenses and other payables	5	4	−6	−13	19
Payable to collaboration partner	—	−3,000	−66,000	−830,000	−2
Deferred revenue	−21	31	—	−2	−13
Income taxes payable	−3	3	—	—	—
Operating lease liability	−903,000	−2	−3	−3	−2
Net cash provided by (used in) operating activities	58	184	−70	−108	−108
Purchase of marketable securities	−547	−622	−191	−215	−287
Proceeds from maturities of marketable securities	492	324	152	307	272
Proceeds from sale of marketable securities	7	—	—	—	—
Purchases of property and equipment	−2	−1	−609,000	−795,000	−1
Net cash used in investing activities	−49	−299	−39	91	−16
Proceeds from issuance of common stock upon exercise of stock options and purchases under employee stock purchase plan	23	26	5	4	6
Tax withholding payments related to net settlement of restricted stock units	−479,000	−600,000	−769,000	−188,000	−189,000
Proceeds from public offering of common stock, net of issuance costs	—	—	108	—	124
Proceeds from at-the-market offering, net of issuance costs	—	—	24	15	—
Proceeds from exercise of Warrants in exchange for issuance of Pre-Funded Warrants	—	—	34	—	—
Proceeds from issuance of common stock upon exercise of Warrants	—	—	559,000	—	—
Net cash provided by financing activities	23	26	170	19	130
Net increase (decrease) in cash, cash equivalents and restricted cash	31	−89	61	2	6
Cash paid for taxes	4	2	—	—	—
Leasehold improvements obtained under tenant improvement allowance	360,000	1	—	—	—
Purchases of property and equipment in accounts payable and accrued liabilities	—	46,000	61,000	19,000	143,000
Right-of-use asset obtained in exchange for lease obligation	—	11	—	—	—

Filings

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Frequently asked questions

What is Protagonist Therapeutics, Inc's CIK number?

Protagonist Therapeutics, Inc's SEC CIK number is 0001377121 (1377121). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Protagonist Therapeutics, Inc's SEC filings?

All of Protagonist Therapeutics, Inc's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Protagonist Therapeutics, Inc last report earnings?

Protagonist Therapeutics, Inc (PTGX) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-055629). This is Protagonist Therapeutics, Inc's most recent earnings filing of record — not a forecast of its next earnings date.

What is Protagonist Therapeutics, Inc's most recent earnings 8-K?

Protagonist Therapeutics, Inc's latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001104659-26-055629. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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