| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 213.48 | 278.7% | 3746.5% |
| Total Income | 213.48 | 278.7% | 3746.5% |
| Expenditure | 54.71 | 8.8% | 15.0% |
| PBT | 165.11 | 7141.7% | 577.2% |
| Net Profit | 162.85 | 4208.2% | 568.4% |
| OPM | 74.37% | 80.84pp | |
| NPM | 76.28% | 69.57pp | |
| EPS | 2.47 | 4016.7% | 549.1% |
Protagonist Reports Q2 2026 Financial Results and Provides Corporate Update
06 Aug 2026 · 6 Aug, 1:51 am
Summary
Protagonist Therapeutics reported strong financial results for the second quarter of 2026, marked by the first full quarter of commercial sales for ICOTYDE and significant progress across its R&D pipeline. The company achieved a net income of $162.8 million, a substantial improvement from the net loss in the prior year. Key pipeline developments include rusfertide's NDA under Priority Review with an August 2026 PDUFA date and the planned initiation of a Phase 2b program for PN-881 in early Q1 2027. The company ended the quarter with $849.5 million in cash, cash equivalents, and marketable securities, positioning it well for future development.
Key Highlights
- 1
Protagonist Therapeutics reported financial results for the second quarter ended June 30, 2026, highlighting ICOTYDE's first full quarter of commercial sales with strong early adoption.
- 2
The company announced that rusfertide's NDA is under Priority Review with a PDUFA date in August 2026 for Polycythemia Vera.
- 3
A comprehensive Phase 2b program with PN-881, an oral IL-17 antagonist for psoriasis, is planned to initiate in early Q1 2027.
- 4
A Phase 1 study has been initiated with PN-477sc, a triple GLP1/GIP/GCG agonist peptide for obesity.
- 5
Cash, cash equivalents, and marketable securities stood at $849.5 million as of June 30, 2026.
- 6
Net income for the second quarter of 2026 was $162.8 million, or $2.29 per diluted share, compared to a net loss of $34.8 million in the prior year period.
Management Comments
Dinesh V. Patel
PhD
The second quarter of 2026 marked a defining growth phase for Protagonist with a successful commercial launch of ICOTYDE through our strategic partner and accelerating momentum across our internal R&D pipeline. ICOTYDE is quickly becoming a paradigm-shifting oral therapy for patients with moderate-to-severe plaque psoriasis, and rusfertide is approaching an FDA decision that could establish it as a first-in-class erythrocytosis targeted medicine for patients with polycythemia vera. Equally exciting is the decision to advance our wholly-owned oral IL-17 antagonist PN-881 into a comprehensive Phase 2b psoriasis program, based on the strongly supportive pharmacokinetic results from the Phase 1 study. Behind PN-881, we have a maturing set of diverse assets moving toward clinical studies in obesity, hematology and immunology. These are the results of years of disciplined investment in differentiated science and mark the beginning, not the culmination, of a new phase of value creation as we continue to advance our peptide platform and clinical pipeline.
Informational and educational content only. Not investment advice.