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

Protagonist swings to $3.8 million Q1 net income on $50 million ICOTYDE milestone

Positive Impact 3 of 5 earnings Written later

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.

Key points

  • 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

The filing

CompanyProtagonist Therapeutics (PTGX)
Form8-K, current report
Filed with the SECMay 5, 2026, 4:08 PM ET
Accession number0001104659-26-055629

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 05, 2026.

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.