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Jun 30, 2021

Protagonist Q2 2021 Earnings Report

Reported financial results for the second quarter ended June 30, 2021, and an overview of recent company progress.

Key Takeaways

Protagonist Therapeutics reported its financial results for the second quarter ended June 30, 2021. The company highlighted the completion of enrollment for the Phase 2 study of rusfertide in polycythemia vera and the upcoming milestones for rusfertide and PN-943.

Completed enrollment for Phase 2 study of rusfertide in polycythemia vera.

Announced Breakthrough Therapy Designation from the FDA for rusfertide.

Shared updated results from the Phase 2 study of rusfertide at the European Hematology Association’s 2021 Virtual Congress.

Preparing for Phase 3 study of rusfertide, expected to commence in early 2022.

Total Revenue
$2.27M
Previous year: $6.22M
-63.6%
EPS
-$0.69
Previous year: -$0.59
+16.9%
Gross Profit
$2.27M
Cash and Equivalents
$192M
Free Cash Flow
-$24.2M
Total Assets
$404M

Protagonist

Protagonist

Forward Guidance

Protagonist Therapeutics anticipates several catalysts in the near future and into early 2022. They intend to announce a third indication for rusfertide, share data from the clinical proof-of-concept study of rusfertide in hereditary hemochromatosis, and share data from the completed Phase 2 study of rusfertide in polycythemia vera. The company also intends to share data from the Phase 2 study of PN-943 in ulcerative colitis in the second quarter of 2022.

Positive Outlook

  • Announcing a third indication for rusfertide.
  • Sharing data from clinical proof-of-concept study of rusfertide in hereditary hemochromatosis.
  • Sharing data from the completed Phase 2 study of rusfertide in polycythemia vera.
  • Preparing diligently for the Phase 3 study of rusfertide.
  • Sharing data from the Phase 2 study of PN-943 in ulcerative colitis in the second quarter of 2022.