Quarterly ResultAug 5, 2026, 04:21 PM
Protagonist Q2 Net Income $162.8M; Rusfertide PDUFA Aug 2026
AI Summary
Protagonist Therapeutics reported strong financial results for the second quarter ended June 30, 2026, with a net income of $162.8 million, a significant turnaround from a net loss in the prior year. The company's cash position also substantially increased to $849.5 million. Key corporate updates include the upcoming PDUFA date in August 2026 for rusfertide, the first full quarter of commercial sales for ICOTYDE™, and the planned initiation of a Phase 2b program for PN-881 in early Q1 2027.
Key Highlights
- Q2 2026 net income was $162.8 million, a significant increase from a net loss of $34.8 million in Q2 2025.
- License and collaboration revenue for Q2 2026 reached $213.5 million, up from $5.5 million in Q2 2025.
- Cash, cash equivalents, and marketable securities totaled $849.5 million as of June 30, 2026, up from $646.0 million at December 31, 2025.
- Rusfertide NDA is under Priority Review with a PDUFA date in August 2026, with potential for $200 million opt-out fee and $75 million milestone upon FDA approval.
- ICOTYDE™ completed its first full quarter of commercial sales following FDA approval in March 2026, triggering a $50 million milestone payment.
- Phase 2b program for PN-881 (oral IL-17 antagonist for Psoriasis) is planned to initiate early Q1 2027.
- Phase 1 study initiated for PN-477sc (triple GLP1/GIP/GCG agonist for obesity).
Price Impact
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