NASDAQ$PTGX
Protagonist Therapeutics Inc · Q1 2025 earnings
Q1 2025 earnings · · After market close · Investor relations
Briefing
Protagonist Therapeutics reported its financial results for the first quarter ended March 31, 2025, highlighting significant progress in its late-stage partnered assets and a strong cash position.
Protagonist Therapeutics announced a strong first quarter for 2025, driven by positive clinical trial results for rusfertide and icotrokinra, both progressing towards NDA filings by year-end. The company reported a net loss of $11.655 million, or $0.19 per basic and diluted share, and maintained a robust cash position of $697.9 million.
- Positive top-line results from the rusfertide Phase 3 VERIFY trial in polycythemia vera (PV) were announced, with full data selected for oral presentation at ASCO on June 1st.
- Full dataset from the icotrokinra Phase 3 ICONIC-LEAD trial in plaque psoriasis (PsO) was presented at the 2025 AAD Meeting, and data from the adolescent subset at the World Congress of Pediatric Dermatology.
- Positive top-line results from the icotrokinra Phase 2b ANTHEM trial in ulcerative colitis (UC) were announced, with data to be presented at a medical conference later in 2025.
- The company's cash, cash equivalents, and marketable securities stood at $697.9 million as of March 31, 2025, providing a cash runway through at least the end of 2028.
Headline financials
Revenue & EPS history
Protagonist · Revenue · Quarterly
$28.3M
Forward guidance
Protagonist Therapeutics anticipates continued advancement of its late-stage clinical programs, with potential NDA filings for rusfertide and icotrokinra by year-end 2025. The company also plans to progress its early-stage pipeline, including PN-881, into clinical safety and proof-of-concept studies starting in 2025, supported by a strong cash position.
Tailwinds
- Rusfertide Phase 3 VERIFY trial data to be presented at ASCO on June 1st, indicating significant progress.
- Icotrokinra Phase 2b ANTHEM study results in UC lay the foundation for additional studies in both UC and Crohn's.
- Anticipated NDA filings for rusfertide and icotrokinra by year-end 2025.
- Strong cash position of $697.9 million provides a cash runway through at least the end of 2028, enabling independent pipeline progression.
- Advancement of pre-clinical candidates, including the oral IL-17 antagonist PN-881, and oral anti-obesity and oral hepcidin programs into clinical studies in 2025.
Headwinds
- Future performance is subject to risks and uncertainties that could cause actual results to differ materially from anticipated outcomes.
- Ability to develop and commercialize product candidates is not guaranteed.
- Ability to earn milestone payments under collaboration agreements with Janssen and Takeda is not guaranteed.
- Operating in a competitive industry with competitors having greater resources poses a challenge.
- Obtaining and maintaining regulatory approval for product candidates is not guaranteed.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2025
+3.2%
Avg return
Earnings day
+5.4%
Avg return
5 days after
+8.3%
Avg return
30 days after
51%
20 / 39 earnings
Positive
+75.1%
Q1 2020
Best reaction
-21.2%
Q1 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | -0.2% | +3.3% | |
| Q4 2025 | -0.3% | +7.8% | +13.3% | |
| Q3 2025 | -0.2% | +6.4% | +12.4% | |
| Q1 2025 | +2.4% | +3.2% | +22.9% | |
| Q4 2024 | -7.1% | -6.2% | +35.6% | |
| Q3 2024 | -2.9% | -9.3% | -11.6% | |
| Q2 2024 | +0.0% | +8.2% | +17.4% | |
| Q1 2024 | +4.0% | +8.3% | +30.5% | |
| Q4 2023 | +3.0% | +8.9% | -2.0% | |
| Q3 2023 | +10.2% | +9.0% | +22.8% | |
| Q2 2023 | +3.3% | -2.0% | +5.2% | |
| Q1 2023 | +1.5% | +3.3% | +15.3% | |
| Q4 2022 | -8.4% | -9.9% | -25.9% | |
| Q3 2022 | -0.5% | +9.4% | +0.4% | |
| Q2 2022 | +2.2% | -1.6% | -21.1% | |
| Q1 2022 | -0.3% | -10.3% | -6.4% | |
| Q4 2021 | +7.2% | -0.7% | -2.3% | |
| Q3 2021 | +5.0% | +7.4% | +0.1% | |
| Q2 2021 | -2.2% | -0.4% | -0.8% | |
| Q1 2021 | -0.4% | -0.1% | +19.3% | |
| Q4 2020 | +3.5% | +2.8% | -11.4% | |
| Q3 2020 | +14.2% | +6.6% | +11.0% | |
| Q2 2020 | +8.3% | +2.3% | +23.8% | |
| Q1 2020 | +75.1% | +97.4% | +98.0% | |
| Q4 2019 | -4.8% | +5.1% | -7.6% | |
| Q3 2019 | -19.3% | -14.2% | -37.5% | |
| Q2 2019 | +0.8% | -2.9% | +60.6% | |
| Q1 2019 | +20.8% | +16.3% | +31.4% | |
| Q4 2018 | +0.1% | +22.3% | +22.2% | |
| Q3 2018 | +14.1% | +22.3% | -14.6% | |
| Q2 2018 | -1.8% | -6.4% | -18.1% | |
| Q1 2018 | -21.2% | -22.4% | -13.5% | |
| Q4 2017 | -2.0% | +1.4% | -57.5% | |
| Q3 2017 | +8.9% | +16.2% | +25.2% | |
| Q2 2017 | -7.7% | -4.4% | +33.6% | |
| Q1 2017 | +10.5% | +14.3% | +21.1% | |
| Q4 2016 | -0.6% | +0.4% | -16.8% | |
| Q3 2016 | -1.6% | +3.4% | -16.5% | |
| Q2 2016 | +9.4% | +19.1% | +63.8% | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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