Protagonist Q2 net loss $41M; rusfertide Phase 3 enrollment slower, cash runway to end 2024

Protagonist Therapeutics, Inc

2022-Q2 EPS reported -$1.27 revenue$26,581,000

Net loss of $41.0M ($0.84 per share) vs $30.8M loss in Q2 2021; license revenue $0.9M.
Cash and equivalents $291.9M, expected to fund operations through end of 2024.
Phase 3 VERIFY study enrollment slower than anticipated; target to complete enrollment by end of first half 2023.
Janssen (PN-235) advancing Phase 2b psoriasis studies; $10M milestone for second indication Phase 2 start, $50M for Phase 3 dosing.
PN-943 seeking FDA guidance for Phase 3 and partnership; IDEAL study results to be presented at UEGW Oct 2022.

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