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Jun 30, 2020
Protagonist Q2 2020 Earnings Report
Reported second quarter financial results and provided corporate update.
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