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AI brief of an SEC Form 8-K · Protagonist Therapeutics (PTGX)

Protagonist posts $11.7 million Q1 net loss; license revenue falls to $28.3 million

Negative Impact 3 of 5 earnings Written later

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.

Key points

  • 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.

The filing

CompanyProtagonist Therapeutics (PTGX)
Form8-K, current report
Filed with the SECMay 6, 2025, 4:27 PM ET
Accession number0001104659-25-045073

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

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 06, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.