Protagonist Q2 2020 Earnings Report
Key Takeaways
Protagonist Therapeutics reported its second quarter financial results, highlighting the advancement of three differentiated candidates into Phase 2 development and a successful secondary offering and ATM program, ensuring financial resources to support operations through mid-2023.
Three differentiated candidates advanced from de novo discovery into Phase 2 development.
PTG-300 received U.S. Food and Drug Administration (FDA) Orphan Drug Designation for the treatment of polycythemia vera.
Expect to initiate a pivotal study for PTG-300 in 2021 after discussions with the regulatory agencies.
Financial resources expected to support operations through mid-2023.
Protagonist
Protagonist
Forward Guidance
Protagonist Therapeutics anticipates continued progress in its clinical programs and expects financial resources to support operations through mid-2023.
Positive Outlook
- Potential of ongoing clinical programs
- Plans for future clinical trials
- Potential of PTG-300 as a possible treatment for polycythemia vera and other blood disorders
- Potential of PTG-200 and PN-943 as possible treatments for inflammatory bowel disease
- Potential of a pivotal study for PTG-300 in 2021
Challenges Ahead
- Ability to develop and commercialize product candidates
- Ability to earn milestone payments under collaboration agreement with Janssen Biotech
- Ability to use and expand programs to build a pipeline of product candidates
- Ability to obtain and maintain regulatory approval of product candidates
- Risks related to the global COVID-19 pandemic and actions taken to slow its spread