Protagonist Q1 2023 Earnings Report
Key Takeaways
Protagonist Therapeutics reported positive topline data from the Phase 2b FRONTIER 1 study of JNJ-2113 and the Phase 2 REVIVE study of rusfertide. They also extended their cash runway through the end of 2025 with a public offering.
Announced positive topline results from the Phase 2b FRONTIER 1 study of JNJ-2113 for moderate-to-severe plaque psoriasis.
Announced positive topline results from the randomized withdrawal portion of the Phase 2 REVIVE study of rusfertide in polycythemia vera (PV).
Extended cash runway through end of 2025 with the completion of an underwritten public offering, resulting in net proceeds of $108.1 million.
Rusfertide's Phase 2 data supports its potential to provide meaningful benefit in hematocrit control, reduction in phlebotomy burden, and symptoms management for polycythemia vera patients.
Protagonist
Protagonist
Forward Guidance
Protagonist Therapeutics anticipates that cash resources will fund discovery and clinical development initiatives, including the ongoing Phase 3 VERIFY study of rusfertide in PV through to its completion and New Drug Application filing.