Every material Form 8-K Protagonist Therapeutics has filed with the SEC since February 27, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Protagonist Therapeutics reported third quarter 2026 financial results, highlighted by net income of $220.0 million and license and collaboration revenue of $274.4 million, driven by partner payments following FDA approval of MIMRYLO. Cash, cash equivalents, and marketable securities reached $834.6 million as of September 30, 2026. The company also announced a $300 million share repurchase program authorized in September 2026.
Net income for the third quarter of 2026 was $220.0 million, or $3.07 per diluted share, compared to a net loss of $39.3 million, or $0.62 per diluted share, for the third quarter of 2025.
License and collaboration revenue reached $274.4 million for the third quarter of 2026, primarily driven by $266.6 million in proportional recognition from Takeda following the FDA approval of MIMRYLO.
Cash, cash equivalents, and marketable securities totaled $834.6 million as of September 30, 2026.
The Board of Directors authorized a $300 million share repurchase program announced on September 8, 2026.
Protagonist Therapeutics reported net income of $162.8 million for the quarter ended June 30, 2026, compared with a net loss of $34.8 million a year earlier. Most of the quarter's $213.5 million in license and collaboration revenue came from $192.4 million recognized from the Takeda opt-out payment, so the result reflects a large one-time-style accounting benefit rather than the ongoing run rate. The company also said it expects research and development expense to rise significantly in the second half of 2026.
Q2 2026 license and collaboration revenue was $213.5 million, versus $5.5 million in Q2 2025; $192.4 million relates to the Takeda opt-out payment.
Q2 2026 net income was $162.8 million, or $2.29 per diluted share, versus a net loss of $34.8 million, or $0.55 per share, a year earlier.
R&D expense was $42.1 million in Q2 2026, up from $37.0 million, and the company expects R&D expense to increase significantly in the second half of 2026.
Cash, cash equivalents and marketable securities were $849.5 million at June 30, 2026, up from $646.0 million at December 31, 2025; rusfertide has an FDA PDUFA goal date in August 2026.
At its annual meeting, Protagonist Therapeutics stockholders approved the company's 2026 Equity Incentive Plan, which replaces the 2016 plan and adds 650,000 new shares for future awards. Stockholders also re-elected two Class I directors and approved the other proposals, including a non-binding say-on-pay vote and the ratification of Ernst & Young LLP as auditor.
2026 Equity Incentive Plan approved, adding 650,000 new shares plus returned shares from the 2016 plan
Dinesh V. Patel, Ph.D., received 48,714,702 votes for and Lewis T. "Rusty" Williams, M.D., Ph.D., received 45,371,193 votes for
Non-binding say-on-pay proposal approved with 53,412,559 votes for and 3,164,702 against
Ernst & Young LLP ratified as independent registered public accounting firm for fiscal year ending December 31, 2026
Protagonist reported first-quarter 2026 results, with net income of $3.8 million ($0.05 per diluted share) compared with a net loss of $11.7 million ($0.19 per share) a year earlier. Revenue rose to $56.4 million from $28.3 million, mainly due to a $50.0 million milestone from Johnson & Johnson after the FDA approved ICOTYDE, so shareholders should note that the profit depends heavily on this one-time payment while R&D spending also increased.
Net income of $3.8 million, or $0.05 per diluted share, versus a net loss of $11.7 million, or $0.19 per share, in Q1 2025
License and collaboration revenue of $56.4 million, including a $50.0 million milestone from Johnson & Johnson tied to FDA approval of ICOTYDE in March 2026
R&D expense rose to $46.7 million from $35.9 million, driven mainly by the PN-881 Phase 1 study and discovery research
Cash, cash equivalents and marketable securities were $620.3 million at March 31, 2026, down from $646.0 million at December 31, 2025
Protagonist reported fourth-quarter 2025 license and collaboration revenue of $7.4 million, down from $170.6 million a year earlier, and a net loss of $44.4 million, or $0.69 per share, compared with net income of $131.7 million in the prior-year quarter. For the full year, revenue fell to $46.0 million and the net loss was $130.1 million, and the company said the decline reflects lower, highly variable milestone revenue.
Q4 2025 license and collaboration revenue was $7.4 million, versus $170.6 million in Q4 2024, a decrease of $163.2 million.
Q4 2025 net loss was $44.4 million, or $0.69 per share, versus net income of $131.7 million, or $2.11 per basic share, a year earlier.
Full-year 2025 net loss was $130.1 million, or $2.05 per share, compared with net income of $275.2 million in 2024.
Cash, cash equivalents and marketable securities were $646.0 million at December 31, 2025, which the company expects to fund operations through at least the end of 2028.
Protagonist Therapeutics reported third-quarter 2025 results on November 6, 2025. The net loss widened to $39.3 million, or $0.62 per share, from $33.2 million, or $0.54 per share, a year earlier, as research and development expense rose to $40.0 million while license and collaboration revenue stayed flat at $4.7 million. The company said cash, cash equivalents and marketable securities of $678.8 million at September 30, 2025 are expected to fund operations through at least the end of 2028.
Q3 2025 license and collaboration revenue was $4.7 million, unchanged from $4.7 million in Q3 2024.
Q3 2025 research and development expense was $40.0 million, up from $36.0 million; general and administrative expense was $11.1 million.
Nine-month net loss was $85.8 million, compared with net income of $143.5 million in the same period of 2024.
Cash, cash equivalents and marketable securities were $678.8 million at September 30, 2025, with runway stated as through at least end of 2028.
Protagonist Therapeutics reported its second quarter 2025 results, with license and collaboration revenue of $5.5 million, up from $4.2 million a year earlier, while its net loss widened to $34.8 million, or $0.55 per share, from $30.6 million, or $0.50 per share. Cash, cash equivalents and marketable securities totaled $673.0 million at June 30, 2025, which the company expects to fund operations through at least the end of 2028.
Q2 2025 license and collaboration revenue was $5.5 million, compared with $4.2 million in Q2 2024, all from development services under the Takeda collaboration.
Q2 2025 net loss was $34.8 million, or $0.55 per basic and diluted share, versus a net loss of $30.6 million, or $0.50 per share, in Q2 2024.
Cash, cash equivalents and marketable securities were $673.0 million at June 30, 2025, up from $559.2 million at December 31, 2024.
Icotrokinra NDA for plaque psoriasis was filed with the FDA in July 2025; the rusfertide U.S. NDA for polycythemia vera is expected in Q4 2025.
Protagonist Therapeutics reported a first-quarter 2025 net loss of $11.7 million, or $0.19 per share, compared with net income of $207.3 million, or $3.41 per basic share, in the first quarter of 2024. License and collaboration revenue fell to $28.3 million from $255.0 million, as the prior-year period included most of the Takeda upfront payment. Cash, cash equivalents and marketable securities rose to $697.9 million, which the company expects to fund operations through at least the end of 2028.
License and collaboration revenue was $28.3 million, versus $255.0 million in Q1 2024; $22.8 million reflects a $25 million milestone earned in Q1 2025 but payable after the VERIFY clinical study report.
Net loss was $11.7 million, or $0.19 per basic and diluted share, compared with net income of $207.3 million in Q1 2024.
Cash, cash equivalents and marketable securities were $697.9 million at March 31, 2025, up from $559.2 million at December 31, 2024.
Rusfertide Phase 3 VERIFY data is scheduled for an oral presentation at the ASCO plenary session on June 1, 2025.
Protagonist Therapeutics reported fourth-quarter and full-year 2024 results. Net income was $131.7 million, or $2.11 per basic share, in the fourth quarter, up from $27.3 million a year earlier, and $275.2 million for 2024, compared with a net loss of $79.0 million in 2023. The company said its cash position, including a $165.0 million milestone payment received in January 2025, should fund operations through at least the end of 2028.
Q4 2024 license and collaboration revenue was $170.6 million, versus $60.0 million in Q4 2023.
Full-year 2024 license and collaboration revenue was $434.4 million, versus $60.0 million in 2023, mainly from the Takeda agreement and the JNJ milestones.
Cash, cash equivalents and marketable securities were $559.2 million as of December 31, 2024, compared with $341.6 million a year earlier.
Topline results from the Phase 3 VERIFY rusfertide trial and the Phase 2b ANTHEM icotrokinra trial are expected in March 2025.
Effective January 1, 2025, Suneel Gupta, Ph.D., transitioned from Chief Development Officer to Executive Vice President, Clinical Development at Protagonist Therapeutics. The filing is a role change for a senior executive, and it does not disclose financial results, compensation terms, or a new hire.
Effective date of the change: January 1, 2025
Suneel Gupta, Ph.D., moved from Chief Development Officer to Executive Vice President, Clinical Development
The filing was signed by Chief Financial Officer Asif Ali on January 6, 2025
Protagonist said its Phase 3 ICONIC-LEAD and ICONIC-TOTAL studies of icotrokinra in plaque psoriasis met their primary endpoints. Under a November 13, 2024 amendment to its collaboration with Janssen, the company has earned a $165 million milestone, which it expects to receive in Q1 2025, and the filing states the payment is not refundable. The filing does not provide revenue, profit or guidance figures.
ICONIC-LEAD: 64.7% of patients reached IGA 0/1 at week 16 on icotrokinra vs. 8.3% on placebo; 49.6% reached PASI 90 vs. 4.4% on placebo.
Amendment raised the Phase 3 milestone by $50 million to $165 million and eliminated $35 million and $15 million milestone payments, which accelerates them into the $165 million.
Company expects to receive the $165 million in Q1 2025 and remains eligible for up to $630 million in future milestones plus tiered royalties of 6-10% on worldwide net sales.
Protagonist Therapeutics reported third quarter 2024 results, with license and collaboration revenue of $4.7 million, compared with none in the prior-year quarter. The net loss narrowed to $33.2 million, or $0.54 per share, from $34.1 million, or $0.58 per share, a year earlier, and the company said its cash runway extends through the end of 2027.
Q3 2024 license and collaboration revenue was $4.7 million, versus $0 in Q3 2023.
Q3 2024 net loss was $33.2 million ($0.54 per share), versus $34.1 million ($0.58 per share) in Q3 2023.
Nine-month 2024 net income was $143.5 million ($2.22 per diluted share), driven by a $255.0 million Takeda upfront payment recognized in Q1 2024.
Cash, cash equivalents and marketable securities were $583.3 million at September 30, 2024, which the company says provides runway through end of 2027.
Director Daniel N. Swisher Jr., a member of the Audit Committee, resigned from Protagonist Therapeutics' board effective September 17, 2024, and will continue as an advisor under an advisory agreement. The filing says he did not report any disagreement with the company, and the board was reduced from seven seats to six, with Sarah A. O'Dowd added to the Audit Committee effective September 19, 2024.
Daniel N. Swisher Jr. resigned from the Board effective September 17, 2024, and was an Audit Committee member
Swisher will continue to serve as an advisor under an advisory agreement
Sarah A. O'Dowd was appointed to the Audit Committee effective September 19, 2024
Protagonist Therapeutics reported second-quarter 2024 results with a net loss of $30.6 million, or $0.50 per share, compared with a net loss of $38.5 million, or $0.68 per share, a year earlier. For the six months ended June 30, 2024, the company reported net income of $176.7 million, driven by $255.0 million of the $300.0 million upfront payment from its Takeda collaboration recognized in the first quarter.
Q2 2024 license and collaboration revenue was $4.2 million, compared with $0 in Q2 2023.
Q2 2024 research and development expense was $33.5 million and general and administrative expense was $9.4 million.
Cash, cash equivalents and marketable securities were $595.4 million as of June 30, 2024, which the company says provides cash runway through end of 2027.
Topline results from the Phase 3 VERIFY study of rusfertide are expected in Q1 2025.
Protagonist reported first-quarter 2024 net income of $207.3 million, or $3.41 per basic share, compared with a net loss of $33.7 million a year earlier. The results were driven mainly by $255.0 million of license and collaboration revenue from the Takeda rusfertide agreement, and cash, cash equivalents and marketable securities were $322.6 million at March 31, 2024, down from $341.6 million at December 31, 2023.
Net income of $207.3 million, or $3.41 per basic share, versus a net loss of $33.7 million, or $0.67 per share, in Q1 2023.
License and collaboration revenue of $255.0 million, including $254.1 million allocated to the rusfertide license delivered to Takeda on March 15, 2024.
Cash, cash equivalents and marketable securities of $322.6 million at March 31, 2024, versus $341.6 million at December 31, 2023.
G&A expense of $14.9 million included $4.6 million in advisory and legal fees related to the Takeda collaboration; R&D expense was $33.7 million.
Protagonist Therapeutics reported fourth-quarter 2023 net income of $27.3 million, or $0.44 per diluted share, compared with a net loss of $34.2 million in the same quarter of 2022. Revenue came from $60 million in JNJ-2113 milestones, while the full-year net loss narrowed to $79.0 million from $127.4 million.
Q4 2023 license and collaboration revenue was $60 million, versus zero in Q4 2022, from milestones tied to JNJ-2113.
Full-year 2023 net loss was $79.0 million, or $1.39 per share, compared with $127.4 million, or $2.60 per share, in 2022.
Cash, cash equivalents and marketable securities were $341.6 million as of December 31, 2023, up from $237.4 million a year earlier.
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