Protagonist posts Q2 net income of $162.8 million versus year-earlier loss of $34.8 million
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.
Key points
- 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.
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 August 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.