Overview

* Protagonist Therapeutics ( PTGX ) reports Q3 net loss of $39.3 mln, increased R&D expenses noted

* Cash reserves of $678.8 mln expected to sustain operations through 2028

* NDA for icotrokinra submitted to FDA, rusfertide gets breakthrough designation

Outlook

* Protagonist expects rusfertide NDA filing by end of 2025

* Company anticipates PN-477sc clinical study initiation by mid-2026

* Protagonist plans to nominate oral hepcidin candidate by year-end

Result Drivers

* R&D EXPENSES - Increased by $4 mln from the prior year, primarily due to increases in drug discovery and pre-clinical research expenses

*

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $4.71

License mln

and

Collabor

ation

Revenue

Q3 EPS -$0.62

Q3 Net -$39.34

Income mln

Q3 -$46.42

Income mln

from

Operatio

ns

Q3 $51.13

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Protagonist Therapeutics Inc ( PTGX ) is $81.00, about 3.9% above its November 5 closing price of $77.88

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)