secwatch.observer — SEC 8-K summary
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Issuer:     Protagonist Therapeutics, Inc (PTGX)
CIK:        0001377121
Form:       8-K
Filed at:   2026-05-05T23:59:59+00:00
Accession:  0001104659-26-055629
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Protagonist Q1 net income $3.8M on ICOTYDE approval milestone; cash $620M, rusfertide opt-out fee $200M
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- Net income $3.8M ($0.05 diluted EPS) vs net loss $11.7M in Q1 2025; revenue $56.4M incl. $50M ICOTYDE milestone from J&J.
- Cash, equivalents & marketable securities $620.3M as of March 31, 2026; expected runway through at least 2028.
- ICOTYDE FDA-approved March 18 for plaque psoriasis; Protagonist eligible for up to $580M in milestones and 6-10% tiered royalties.
- Exercised rusfertide opt-out April 28, triggering $200M payment due; eligible for additional $200M opt-out fee and $75M milestone plus up to $775M sales milestones and 14-29% royalties.
- Rusfertide NDA granted Priority Review; PDUFA date August 2026. PN-881 Phase 1 completion by mid-2026, Phase 2 initiation expected year-end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1377121/000110465926055629/0001104659-26-055629-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1377121/000110465926055629/tm2613550d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-055629

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer