Protagonist Therapeutics Files 10-Q for Period Ending March 31, 2024

TL;DR

Protagonist Therapeutics, Inc. has filed its Q1 2024 10-Q, detailing financial positions and significant licensing agreements.

AI Summary

Protagonist Therapeutics, Inc (PTGX) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Protagonist Therapeutics, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data from previous periods, including 2023 and 2022, are referenced. The company has entered into various agreements, including a License and Collaboration Agreement with Takeda Pharmaceuticals and an Amended and Restated License and Collaborative Agreement with Janssen Biotech, Inc. Specific assets such as Leasehold Improvements, Laboratory Equipment, and Furniture and Computer Equipment are detailed as of March 31, 2024.

Why It Matters

For investors and stakeholders tracking Protagonist Therapeutics, Inc, this filing contains several important signals. This filing provides an update on the company's financial health and operational status for the first quarter of 2024, crucial for investors assessing ongoing performance. The mention of agreements with Takeda Pharmaceuticals and Janssen Biotech, Inc. highlights potential future revenue streams and strategic partnerships in drug development.

Risk Assessment

Risk Level: medium — Protagonist Therapeutics, Inc shows moderate risk based on this filing. The company's financial disclosures are limited in this header-only extract, making a full assessment of its financial risk challenging without the full report content.

Analyst Insight

Review the full 10-Q filing to understand Protagonist Therapeutics' current financial standing, operational progress, and the implications of its strategic partnerships.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)

Key Players & Entities

• Protagonist Therapeutics, Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• 0001377121 (company) — Central Index Key
• Takeda Pharmaceuticals (company) — Party to an agreement
• Janssen Biotech, Inc. (company) — Party to an agreement

FAQ

Industry Context

Protagonist Therapeutics operates in the pharmaceutical preparations industry, focusing on drug development.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the full 10-Q for detailed financial statements and management discussion.
2. Investigate the terms and potential impact of the Takeda Pharmaceuticals and Janssen Biotech, Inc. agreements.
3. Assess the company's asset breakdown and compare it to previous reporting periods.

Year-Over-Year Comparison

This extract provides header information and references to past periods, but lacks specific comparative financial data within this snippet.

Key Financial Figures

• $0.00001 — h registered Common Stock , par value $0.00001 PTGX The Nasdaq Stock Market, LLC

Filing Documents

• ptgx-20240331x10q.htm (10-Q) — 1324KB
• ptgx-20240331xex10d1.htm (EX-10.1) — 959KB
• ptgx-20240331xex31d1.htm (EX-31.1) — 10KB
• ptgx-20240331xex31d2.htm (EX-31.2) — 10KB
• ptgx-20240331xex32d1.htm (EX-32.1) — 10KB
• ptgx-20240331x10q006.jpg (GRAPHIC) — 98KB
• 0001558370-24-007081.txt ( ) — 6688KB
• ptgx-20240331.xsd (EX-101.SCH) — 38KB
• ptgx-20240331_cal.xml (EX-101.CAL) — 47KB
• ptgx-20240331_def.xml (EX-101.DEF) — 131KB
• ptgx-20240331_lab.xml (EX-101.LAB) — 285KB
• ptgx-20240331_pre.xml (EX-101.PRE) — 229KB
• ptgx-20240331x10q_htm.xml (XML) — 858KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 56 Item 3. Defaults Upon Senior Securities 56 Item 4. Mine Safety Disclosure s 56 Item 5. Other Information 56 Item 6. Exhibits 57

SIGNATURES

SIGNATURES 59 Table of Contents

– FINANCIAL INFORMATION

PART I. – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PROTAGONIST THERAPEUTICS, INC. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share and per share data) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 172,568 $ 186,727 Marketable securities 150,067 154,890 Receivable from collaboration partner 300,043 10,000 Prepaid expenses and other current assets 4,875 3,960 Total current assets 627,553 355,577 Property and equipment, net 1,111 1,195 Restricted cash - noncurrent 225 225 Operating lease right-of-use asset 387 954 Total assets $ 629,276 $ 357,951 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,507 $ 772 Payable to collaboration partner 3 3 Accrued expenses and other payables 16,487 19,358 Deferred revenue - current 16,125 — Income taxes payable 3,326 — Operating lease liability - current 462 1,141 Total current liabilities 39,910 21,274 Deferred revenue - noncurrent 28,922 — Total liabilities 68,832 21,274 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.00001 par value, 10,000,000 shares authorized; no shares issued and outstanding — — Common stock, $ 0.00001 par value, 90,000,000 shares authorized; 58,600,787 and 57,708,613 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 1 1 Additional paid-in capital 969,042 952,491 Accumulated other comprehensive loss ( 229 ) ( 105 ) Accumulated deficit ( 408,370 ) ( 615,710 ) Total stockholders' equity 560,444 336,677 Total liabilities and stockholders' equity $ 629,276 $ 357,951 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Table of Contents PROTAGONIST THERAPEUTICS, INC. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except share and per sha

View Full Filing

View this 10-Q filing on SEC EDGAR