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Mar 31, 2021
Protagonist Q1 2021 Earnings Report
Reported financial results for the first quarter of 2021 and provided a corporate update.
Key Takeaways
Protagonist Therapeutics reported its first quarter 2021 financial results, highlighting the completion of enrollment for the Phase 2 study of rusfertide in polycythemia vera and confirmation of the registrational path forward. The company also noted the progress of PN-943 and anticipated dosing the first subject in the Phase 1 study of PN-232 in the second quarter of 2021.
Completed enrollment for Phase 2 study of rusfertide in polycythemia vera.
Confirmed registrational path forward for rusfertide based on engagement with U.S. and European regulators.
Ongoing Phase 2 study of oral alpha-4-beta-7-integrin antagonist PN-943 is progressing well with enrollment.
Expect to dose the first subject in the Phase 1 study of PN-232 in the second quarter of 2021.
Forward Guidance
Protagonist Therapeutics is focused on advancing its pipeline, with key milestones including the initiation of a Phase 3 trial for rusfertide and continued development of PN-943 and oral IL-23 receptor antagonists.
Positive Outlook
- Initiation of a single, global, Phase 3 randomized, placebo-controlled trial evaluating the efficacy of rusfertide.
- Advancement of PN-943 into a 150 patient Phase 2 study for inflammatory bowel disease.
- Continued development of oral IL-23 receptor antagonist candidates, PN-235 and PN-232, in early stages of clinical development.
- Potential for milestone payments under the collaboration agreement with Janssen.
- Commitment to patients in need of new and better therapeutic options.
Challenges Ahead
- Risks associated with the development and commercialization of product candidates.
- Potential impact of the ongoing COVID-19 pandemic on discovery and development efforts.
- Dependence on the ability to earn milestone payments under the collaboration agreement with Janssen.
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