Protagonist Therapeutics, Inc (PTGX) Form 10-Q — Aug 5, 2026
Protagonist Therapeutics swung to Q2 2026 net income of $162.8 million ($2.47 basic, $2.29 diluted EPS) on license and collaboration revenue of $213.5 million, versus a $34.8 million net loss on $5.5 million revenue in the year-ago quarter. Six-month net income was $166.6 million on $269.8 million of revenue. The profit surge came from collaboration payments: a $50.0 million JNJ milestone earned upon FDA approval of ICOTYDE for plaque psoriasis, and $202.5 million recognized under the Takeda Collaboration Agreement after Protagonist exercised its right on April 28, 2026 to opt out of the 50/50 U.S. profit-share on rusfertide.
Key figures
- Eps
- 2.47 basic / 2.29 diluted (Q2 2026); 2.54 basic / 2.35 diluted (six months)
- Revenue
- 213475000
- Net Income
- 162849000
- Total Assets
- 885544000
- Cash Position
- 420078000
- Shares Outstanding
- 64708285
- Cfo10b5 1 Plan
- CFO plan adopted June 30, 2026 to sell up to 73,214 shares plus 50% of RSU (21,346 shares) and PSU (12,800 shares) net shares through September 30, 2027
- Q22025 Revenue
- 5546000
- Jnj Royalty Range
- 6%-10% with sales milestones up to 425.0 million
- Six Month Revenue
- 269843000
- Takeda Opt Out Fee
- additional 200.0 million opt-out fee
- Total Liabilities
- 44001000
- Six Month Net Income
- 166632000
- Jnj Milestone Q12026
- 50.0 million earned upon FDA approval of ICOTYDE for plaque psoriasis
- Stockholders Equity
- 841543000
- Takeda Opt Out Payment
- 200.0 million triggered by April 28, 2026 opt-out ($192.4 million recognized in Q2)
- Jnj Cumulative Payments
- 387.5 million from inception through June 30, 2026
- Jnj Upcoming Milestones
- 25.0M/45.0M (second indication), 35.0M/50.0M (third indication)
- Rusfertide Royalty Range
- 14%-29% tiered, ~21% weighted-average at $1.5 billion annual net sales
- Rusfertide Sales Milestones
- up to 775.0 million
- Six Month Operating Cash Flow
- 170109000
- Rusfertide Fda Approval Milestone
- 75.0 million upon FDA approval of rusfertide NDA
- Cash Cash Equivalents Marketable Securities
- 849.5 million (vs 646.0 million at Dec 31, 2025)
Price after filing
Close on the filing date to close N calendar days later (from $135.81). Historical, not a forecast.
AI analysis
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