Protagonist reports Q4 net income $131.7M; cash $559.2M; upcoming Phase 3 readouts in March 2025

Protagonist Therapeutics, Inc

2024-FY EPS reported $4.23 revenue$434,433,000

Net income of $131.7M in Q4 2024 ($2.11 basic EPS) vs $27.3M in Q4 2023; FY 2024 net income $275.2M vs net loss of $79.0M in FY 2023.
License & collaboration revenue of $434.4M for FY 2024, up from $60.0M in FY 2023, including $165M milestone from JNJ.
Cash, equivalents, and marketable securities $559.2M at Dec 31, 2024; plus $165M milestone received Jan 2025; runway through at least end of 2028.
Topline results for rusfertide Phase 3 VERIFY (polycythemia vera) and icotrokinra Phase 2b ANTHEM (ulcerative colitis) expected in March 2025.
Nominated PN-881, an oral IL-17 receptor antagonist; plans to nominate oral obesity candidate in Q2 2025 and oral hepcidin candidate in Q4 2025.

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