Protagonist reports Q1 net loss $20.9M; initiates rusfertide Phase 3 VERIFY in PV

Protagonist Therapeutics, Inc

2022-Q1 EPS reported -$0.43 revenue$25,722,000

Q1 2022 net loss $20.9M ($0.43 per share) vs $24.0M ($0.54) in Q1 2021.
License and collaboration revenue $25.7M, including $25M milestone from Janssen for PN-235.
Cash and securities $305.3M; runway through end of 2024.
Initiated Phase 3 VERIFY study of rusfertide in polycythemia vera; enrollment completion expected 1H 2023.
Phase 2 IDEAL study of PN-943 in UC met proof-of-concept at 150 mg BID; engaged PJT Partners for partnering.

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