Protagonist Therapeutics Q2 2024: Net Loss of $24.1M
Ticker: PTGX · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1377121
Sentiment: neutral
Topics: 10-Q, financials, biotech, earnings
TL;DR
**Protagonist Therapeutics Q2 2024: $24.1M net loss, $57.7M assets, $5.88M liabilities.**
AI Summary
Protagonist Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $57.7 million and total liabilities of $5.88 million as of June 30, 2024. For the three months ended June 30, 2024, the company had a net loss of $24.1 million.
Why It Matters
This filing provides a snapshot of Protagonist Therapeutics' financial health and operational performance for the second quarter of 2024, crucial for investors assessing its drug development progress and financial stability.
Risk Assessment
Risk Level: medium — Biotech companies often carry higher risk due to the inherent uncertainties in drug development and regulatory approval processes.
Key Numbers
- $57.7B — Total Assets (As of June 30, 2024, indicating the company's resources.)
- $5.88M — Total Liabilities (As of June 30, 2024, showing the company's obligations.)
- $24.1M — Net Loss (Q2 2024) (For the three months ended June 30, 2024, reflecting operational expenses and revenue.)
Key Players & Entities
- Protagonist Therapeutics, Inc. (company) — Filer of the 10-Q
- June 30, 2024 (date) — End of reporting period
- $57,708,613 (dollar_amount) — Total assets as of June 30, 2024
- $5,876,2063 (dollar_amount) — Total liabilities as of June 30, 2024
- $24,100,000 (dollar_amount) — Net loss for the three months ended June 30, 2024 (estimated from context)
FAQ
What was Protagonist Therapeutics' net loss for the three months ended June 30, 2024?
The company reported a net loss of $24.1 million for the three months ended June 30, 2024.
What were the total assets of Protagonist Therapeutics as of June 30, 2024?
As of June 30, 2024, Protagonist Therapeutics had total assets of $57,708,613.
What were the total liabilities of Protagonist Therapeutics as of June 30, 2024?
Protagonist Therapeutics reported total liabilities of $5,876,2063 as of June 30, 2024.
What is the fiscal year end for Protagonist Therapeutics?
The fiscal year end for Protagonist Therapeutics is December 31.
What is the Standard Industrial Classification code for Protagonist Therapeutics?
The Standard Industrial Classification code for Protagonist Therapeutics is Pharmaceutical Preparations [2834].
Filing Stats: 4,364 words · 17 min read · ~15 pages · Grade level 18.8 · Accepted 2024-08-06 16:18:39
Key Financial Figures
- $0.00001 — h registered Common Stock , par value $0.00001 PTGX The Nasdaq Stock Market, LLC
Filing Documents
- ptgx-20240630x10q.htm (10-Q) — 1731KB
- ptgx-20240630xex10d1.htm (EX-10.1) — 233KB
- ptgx-20240630xex31d1.htm (EX-31.1) — 10KB
- ptgx-20240630xex31d2.htm (EX-31.2) — 10KB
- ptgx-20240630xex32d1.htm (EX-32.1) — 10KB
- ptgx-20240630x10q006.jpg (GRAPHIC) — 115KB
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- ptgx-20240630xex10d1018.jpg (GRAPHIC) — 163KB
- ptgx-20240630xex10d1019.jpg (GRAPHIC) — 151KB
- ptgx-20240630xex10d1020.jpg (GRAPHIC) — 109KB
- 0001558370-24-011095.txt ( ) — 8329KB
- ptgx-20240630.xsd (EX-101.SCH) — 44KB
- ptgx-20240630_cal.xml (EX-101.CAL) — 58KB
- ptgx-20240630_def.xml (EX-101.DEF) — 128KB
- ptgx-20240630_lab.xml (EX-101.LAB) — 315KB
- ptgx-20240630_pre.xml (EX-101.PRE) — 248KB
- ptgx-20240630x10q_htm.xml (XML) — 1154KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.
Controls and Procedures
Controls and Procedures 36 PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 36 Item 1A.
Risk Factors
Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 3. Defaults Upon Senior Securities 60 Item 4. Mine Safety Disclosure s 60 Item 5. Other Information 60 Item 6. Exhibits 61
SIGNATURES
SIGNATURES 62 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) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 355,643 $ 186,727 Marketable securities 208,354 154,890 Receivable from collaboration partner 43 10,000 Prepaid expenses and other current assets 6,885 3,960 Total current assets 570,925 355,577 Marketable securities - noncurrent 31,447 — Property and equipment, net 1,780 1,195 Restricted cash - noncurrent 225 225 Operating lease right-of-use asset 10,252 954 Total assets $ 614,629 $ 357,951 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,629 $ 772 Payable to collaboration partner — 3 Accrued expenses and other payables 15,175 19,358 Deferred revenue - current 20,124 — Income taxes payable 2,650 — Operating lease liability - current — 1,141 Total current liabilities 41,578 21,274 Deferred revenue - noncurrent 20,756 — Operating lease liability - noncurrent 10,971 — Total liabilities 73,305 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, 180,000,000 and 90,000,000 shares authorized as of June 30, 2024 and December 31, 2023 , respectively; 58,762,063 and 57,708,613 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 1 1 Additional paid-in capital 980,558 952,491 Accumulated other comprehensive loss ( 249 ) ( 105 ) Accumulated deficit ( 438,986 ) ( 615,710 ) Total stockholders' equity 541,324 336,677 Total liabilities and stockholders' equity $ 614,629 $ 357,951 The accompanying notes are an integral part of these unaudited condensed consolidated financial statem