Protagonist announces positive Phase 3 results for icotrokinra; earns $165M milestone

Protagonist Therapeutics, Inc

ICONIC-LEAD met co-primary endpoints: 64.7% achieved IGA 0/1, 49.6% PASI 90 at week 16 vs placebo 8.3% and 4.4%.
ICONIC-TOTAL met primary endpoint of IGA 0/1 at week 16; results in difficult-to-treat areas.
Earned $165M milestone under amended collaboration with Janssen; payment expected Q1 2025.
Company remains eligible for up to $630M in future milestones and tiered royalties of 6-10% on net sales.
Upcoming catalysts H1 2025: Phase 2b ulcerative colitis data, PsA Phase 3 start, superiority data vs deucravacitinib.

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