Quarterly ResultAug 5, 2026, 04:29 PM
Protagonist Therapeutics Revenue Soars to $269.8M; Swings to Profit
AI Summary
Protagonist Therapeutics reported a significant financial turnaround for the six months ended June 30, 2026, swinging to a net income of $166.6 million from a net loss in the prior year. This was driven by license and collaboration revenue soaring to $269.8 million, primarily from a $50.0 million milestone payment for the FDA approval of ICOTYDE and a $200.0 million opt-out payment from Takeda related to the rusfertide collaboration. The company also saw a substantial increase in cash and cash equivalents, reaching $420.1 million.
Key Highlights
- Net income of $166.6 million for H1 2026, up from a $46.4 million net loss in H1 2025.
- License and collaboration revenue increased to $269.8 million in H1 2026 from $33.9 million in H1 2025.
- Diluted EPS was $2.35 for H1 2026, compared to $(0.73) for H1 2025.
- Received $50.0 million milestone for ICOTYDE FDA approval in March 2026.
- Received $200.0 million opt-out payment from Takeda for rusfertide collaboration.
- Cash and cash equivalents increased to $420.1 million as of June 30, 2026.
- Rusfertide NDA granted FDA priority review with August 2026 target action date.
Price Impact
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