Protagonist Q3 net loss $33.8M; rusfertide hold lifted, PN-235 advancing to Phase 2

Protagonist Therapeutics, Inc

2022-Q3 EPS reported -$1.94 revenue$18,740,000

Net loss $33.8M ($0.70/share) vs $7.8M loss in Q3 2020; revenue $10.3M (incl. $8M catch-up from Janssen amendment).
Cash $352.5M; expects to fund operations through 2024.
FDA removed clinical hold on rusfertide; Phase 3 in PV planned Q1 2022; Zealand agreement cut future milestones/royalties by 50%.
PN-943 Phase 2 IDEAL study enrollment steady; topline data from 12-week induction expected Q2 2022.
IL-23: PN-235 Phase 2 psoriasis starts early 2022; $7.5M milestone from Janssen; up to ~$900M in potential milestones.

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