Protagonist posts $207.3 million Q1 net income on $255.0 million Takeda license revenue
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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2024.
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