Protagonist Q1 2020 Earnings Report
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.