Every material Form 8-K Protagonist Therapeutics filed with the SEC in 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 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.
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Protagonist Therapeutics filing is on SEC EDGAR ↗. 8-K briefs of other companies →