Overview

* Protagonist Q2 net loss $34.8 mln, beating analyst expectations, per LSEG data

* License and collaboration revenue rose to $5.5 mln in Q2

* Income from operations missed expectations due to higher operating expenses

Outlook

* Protagonist expects rusfertide NDA filing in Q4 2025

* Company anticipates cash runway through end of 2028

Result Drivers

* INCREASED R&D EXPENSES - Rise in R&D costs driven by new product candidates PN-881 and PN-477

* LICENSE REVENUE GROWTH - License and collaboration revenue increased due to Takeda collaboration milestone

* HIGHER G&A COSTS - Increase in G&A expenses attributed to stock-based compensation and personnel costs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $5.55

License mln

and

Collabor

ation

Revenue

Q2 EPS -$0.55

Q2 Net Beat -$34.77 -$35.10

Income mln mln (9

Analysts

)

Q2 Miss -$42.04 -$40.10

Income mln mln (10

from Analysts

Operatio )

ns

Q2 Basic -$0.55

EPS

Q2 $47.59

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "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 $70.00, about 23% above its August 5 closing price of $53.90

Press Release:

(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.)