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Mar 31, 2020
Protagonist Q1 2020 Earnings Report
Reported financial results for the first quarter ended March 31, 2020 and provided an update on clinical development programs.
Key Takeaways
Protagonist Therapeutics reported its financial results for the first quarter ended March 31, 2020. The company is focusing on rapidly advancing PTG-300 for polycythemia vera and has reduced operational expenditures, extending the cash runway through mid-2022.
Selected polycythemia vera indication for pivotal development of PTG-300 based on robust clinical responses.
Revised and focused development plans now provide sufficient capital to fund operations through mid-2022.
Protagonist to host a conference call today to provide a corporate update, and details of initial Phase 2 polycythemia vera results to be presented by Ronald Hoffman, M.D.
PTG-300 is being developed as a first-in-class non-cytoreductive hepcidin hormone mimetic agent.
Protagonist
Protagonist
Forward Guidance
The company's revised development plans provide sufficient capital to fund operations through mid-2022.
Positive Outlook
- Focus on PTG-300 development for polycythemia vera.
- Orphan drug development regulatory path forward.
- Potential for PTG-300 as a first-in-class treatment.
- Reduced operational expenditures.
- Extended cash runway through mid-2022.
Challenges Ahead
- Deferring PN-943 Phase 2 initiation due to the current COVID-19 environment.
- Reliance on successful development and commercialization of product candidates.
- Dependence on collaboration agreement with Janssen Biotech.
- Risks related to the global COVID-19 pandemic.
- Uncertainty regarding clinical trial results.