Protagonist Therapeutics, Inc

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.

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.

Protagonist Therapeutics held its 2026 Annual Meeting of Stockholders, where all four proposals were approved. Key approvals included the adoption of the 2026 Equity Incentive Plan, which authorizes 650,000 new shares and incorporates shares returned from the previous plan. Stockholders also re-elected two Class I directors, approved executive compensation on an advisory basis, and ratified Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2026.

Protagonist Therapeutics reported a net income of $3.78 million for the first quarter of 2026, a significant improvement from a net loss of $11.66 million in the prior year period. This turnaround was primarily driven by a substantial increase in license and collaboration revenue, which more than doubled to $56.37 million, largely due to a $50.0 million milestone payment from Janssen Biotech following the FDA approval of ICOTYDE for moderate-to-severe plaque psoriasis. The company also highlighted the ongoing progress of rusfertide, which received Breakthrough Therapy designation and had its New Drug Application submitted to the FDA with priority review, targeting a Q3 2026 action date.

Protagonist Therapeutics reported a strong first quarter 2026, achieving net income of $3.8 million, a significant improvement from a net loss in the prior year. This was driven by the FDA approval of ICOTYDE, which triggered a $50 million milestone payment, and the company's decision to opt out of the rusfertide collaboration, securing an initial $200 million payment and substantially increasing future royalties and milestones. The rusfertide NDA also received Priority Review, with a PDUFA date set for Q3 2026, further enhancing the company's financial outlook and pipeline progression.

Protagonist Therapeutics, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on June 17, 2026. Stockholders will vote on the election of two Class I director nominees, the non-binding advisory approval of executive compensation, the ratification of Ernst & Young LLP as the independent auditor for 2026, and the adoption of the 2026 Equity Incentive Plan. The record date for voting is April 22, 2026.