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Protagonist Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update

1. Protagonist Therapeutics reports strong Q4 2024 financial results and milestone payment. Upcoming late-stage trial readouts could positively impact PTGX.

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Why Bullish?

The company’s robust cash position, $165M milestone, and imminent trial readouts act as strong catalysts reminiscent of past successful biotech events. Similar scenarios in the industry often brought notable upward price pressure.

How important is it?

The combination of significant milestone payments, a strong cash runway, and upcoming critical trial results makes this update highly material for PTGX’s near-term outlook and investor sentiment.

Why Short Term?

The scheduled topline results in March 2025 provide a near-term catalyst, driving immediate investor reactions as seen in previous biotech trial announcements.

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PTGX
$165.0 million icotrokinra (formerly JNJ-2113) milestone earned in Q4 2024, received in January 2025 PN-881, a potential best-in-class oral IL-17 receptor antagonist peptide nominated as a development candidate in Q4 2024 Topline results for rusfertide Phase 3 VERIFY clinical trial in polycythemia vera expected in March 2025 Topline results for icotrokinra Phase 2b ANTHEM clinical trial in moderate to severe ulcerative colitis expected in March 2025 Cash, cash equivalents, and marketable securities of $559.2 million as of December 31, 2024, combined with $165.0 million milestone payment, anticipated to provide cash runway through at least end of 2028 NEWARK, CA / ACCESS Newswire / February 21, 2025 / Protagonist Therapeutics (NASDAQ:PTGX) ("Protagonist" or "the Company") today reported financial results for the fourth quarter and full year ended December 31, 2024, and provided a corporate update. "Protagonist is quickly approaching multiple late-stage transformational events expected in the first quarter of this year, including the topline results from the VERIFY Phase 3 study of rusfertide in polycythemia vera and from the ANTHEM Phase 2b ulcerative colitis study of icotrokinra," said Dinesh V.

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