Protagonist Therapeutics Inc ( (PTGX) ) has released its Q4 earnings. Here is a breakdown of the information Protagonist Therapeutics Inc presented to its investors.
Protagonist Therapeutics Inc. is a biopharmaceutical company focused on the development of novel peptide-based drugs, primarily in the areas of immunology and hematology, with a unique emphasis on oral peptide therapeutics.
In its latest earnings report, Protagonist Therapeutics announced significant financial achievements for the fourth quarter and full year 2024, highlighted by a substantial milestone payment and strong cash reserves. The company also provided updates on its clinical trials and strategic collaborations.
Key financial metrics include a significant increase in license and collaboration revenue, reaching $434.4 million for the year, largely due to agreements with Johnson & Johnson and Takeda. The company reported a net income of $275.2 million for 2024, a notable turnaround from a net loss in the previous year. Protagonist also highlighted the nomination of PN-881 as a development candidate, showcasing its potential as a best-in-class oral IL-17 receptor antagonist.
Looking ahead, Protagonist Therapeutics is poised for several late-stage clinical trial results in early 2025, which could significantly impact its pipeline and financial performance. The company’s robust cash position is expected to support its development activities through at least the end of 2028, providing a strong foundation for future growth.