---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-008787"
form_type: "8-K"
ticker: "PTGX"
cik: "0001377121"
company_name: "Protagonist Therapeutics, Inc"
filed_at: "2024-01-31T23:59:59+00:00"
generated_at: "2026-06-06T13:11:41.912805+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Protagonist Therapeutics signs $300M upfront collaboration with Takeda for rusfertide

## Summary
- Takeda pays $300M upfront within 30 days of HSR clearance; 50/50 profit-loss share in U.S.
- Tiered royalties of 10-17% in ex-US territory; up to 29% if opt-out exercised.
- Milestones up to $330M (no opt-out) or up to $975M (with opt-out); plus $400M opt-out payment potential.
- Takeda leads global commercialization; Protagonist holds option to co-detail in U.S.
- Takeda may terminate for convenience after Phase 3 data or 3rd anniversary of effective date.

## SEC filing metadata
- accession: 0001104659-24-008787
- form_type: 8-K
- ticker: PTGX
- cik: 0001377121
- company_name: Protagonist Therapeutics, Inc
- filed_at: 2024-01-31T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377121/000110465924008787/0001104659-24-008787-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377121/000110465924008787/tm244678d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-008787
- JSON: https://secwatch.observer/filing/0001104659-24-008787.json
- Plain text: https://secwatch.observer/filing/0001104659-24-008787.txt

## Key facts
- Material Agreements
  Protagonist Therapeutics, Inc entered into License and Collaboration Agreement with Takeda Pharmaceuticals USA, Inc. valued at $300 million (effective 2024-01-31).
  - Action: entry
  - Agreement: collaboration
  - Counterparty: Takeda Pharmaceuticals USA, Inc.
  - Value: $300 million
  - Effective: 2024-01-31
  source text: On January 31, 2024, Protagonist Therapeutics, Inc. (the “ Company ”) entered into a License and Collaboration Agreement (the “ Collaboration Agreement ”) with Takeda Pharmaceuticals USA, Inc. (“ Takeda ”) for the development, manufacture and commercialization of the Company’s rusfertide product candidate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377121/000110465924008787/0001104659-24-008787-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.