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Jun 30, 2023
Protagonist Q2 2023 Earnings Report
Protagonist reported positive topline results from the Phase 2b FRONTIER 1 study of JNJ-2113 and made strides in the clinical development of rusfertide in polycythemia vera.
Key Takeaways
Protagonist Therapeutics reported positive data from the FRONTIER 1 and REVIVE studies, with JNJ-2113 advancing to Phase 3 and rusfertide's Phase 3 VERIFY study continuing. The company's cash position is strong, with runway through the end of 2025.
Positive topline results from the Phase 2b FRONTIER 1 study of JNJ-2113 were presented at the World Congress of Dermatology.
JNJ-2113 is advancing toward a Phase 3 study in psoriasis and a Phase 2b study in ulcerative colitis.
Positive data from the Phase 2 REVIVE study of rusfertide in polycythemia vera were presented at the European Hematology Association (EHA2023).
The global Phase 3 VERIFY study of rusfertide is ongoing, with enrollment completion projected by the end of the first quarter of 2024.
Protagonist
Protagonist
Forward Guidance
Protagonist anticipates continued progress in the clinical development of JNJ-2113 and rusfertide, with potential milestone payments and a strong cash runway.
Positive Outlook
- Potential benefits of JNJ-2113
- Expectations regarding the clinical development of JNJ-2113
- Potential receipt of milestone and royalty payments under collaboration agreement with Janssen Biotech, Inc.
- Forecasted cash runway
- Expectations regarding enrollment in the REVIVE Phase 3 trial
Challenges Ahead
- Ability to develop and commercialize product candidates
- Ability to earn milestone payments under collaboration agreement with Janssen Biotech, Inc.
- Ability to use and expand programs to build a pipeline of product candidates
- Ability to obtain and maintain regulatory approval of product candidates
- Ability to operate in a competitive industry and compete successfully against competitors that have greater resources