Overview
Protagonist Therapeutics reports Q3 net loss of $39.3 mln, increased R&D expenses noted
Cash reserves of $678.8 mln expected to sustain operations through 2028
NDA for icotrokinra submitted to FDA, rusfertide gets breakthrough designation
Outlook
Protagonist expects rusfertide NDA filing by end of 2025
Company anticipates PN-477sc clinical study initiation by mid-2026
Protagonist plans to nominate oral hepcidin candidate by year-end
Result Drivers
R&D EXPENSES - Increased by $4 mln from the prior year, primarily due to increases in drug discovery and pre-clinical research expenses
G&A EXPENSES - Increased by $1 mln primarily due to increases in professional services
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 License and Collaboration Revenue | $4.71 mln | ||
Q3 EPS | -$0.62 | ||
Q3 Net Income | -$39.34 mln | ||
Q3 Income from Operations | -$46.42 mln | ||
Q3 Operating Expenses | $51.13 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Protagonist Therapeutics Inc is $81.00, about 3.9% above its November 5 closing price of $77.88
Press Release: ID:nACSR1Tsma
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)