Protagonist Q1 net income $207.3M on $255M Takeda revenue; cash runway through Q4 2027

Protagonist Therapeutics, Inc

2024-Q1 EPS reported $3.26 revenue$254,953,000

Net income of $207.3M ($3.26 diluted EPS) vs net loss of $33.7M in Q1 2023; revenue $255M from Takeda rusfertide license.
Cash, equivalents & marketable securities $322.6M at March 31, 2024; extended runway through Q4 2027 including $300M upfront from Takeda.
Phase 3 ICONIC LEAD and ICONIC TOTAL trials of JNJ-2113 in psoriasis completed enrollment; Phase 3 ICONIC ADVANCE studies ongoing.
Expect to nominate oral IL-17 antagonist development candidate by end of 2024.
Rusfertide VERIFY study top-line data expected by Q1 2025; potential deal value with Takeda up to $630M plus profit share/royalties.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Protagonist Therapeutics, Inc reported first quarter ended March 31, 2024 results: revenue $255.0 million, net income $207,340 thousand, EPS $3.26 per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $255.0 million
Net income: $207,340 thousand
EPS: $3.26 per diluted share
Result: reported results

Exact text from the filing

) Basic earnings (loss) per share $ 3.41 $ (0.67 ) Diluted earnings (loss) per share $ 3.26 $ (0.67 ) · License and Collaboration Revenue : License and collaboration revenue of $255.0 million for March 31, 2024 consisted of: (i) $254.1 million of the $300.0 million transaction price for the Takeda Collaboration Agreement allocated to the rusfertide license delivered

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Source: SEC EDGAR

accession 0001104659-24-058036

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