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Jun 30, 2024
Protagonist Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024, and provided a corporate update.
Key Takeaways
Protagonist Therapeutics reported second quarter 2024 financial results, highlighting advancements in rusfertide and JNJ-2113 clinical development, and the expansion of their discovery platform for oral peptides-based programs. The company also noted its addition to the S&P SmallCap 600® index.
Rusfertide's Phase 2 REVIVE trial data reaffirmed durable positive response in polycythemia vera.
Phase 3 VERIFY 32-week primary endpoint readout for rusfertide is expected in Q1 2025.
Rapid enrollment is ongoing in five Phase 3 trials of JNJ-2113 in psoriasis and a Phase 2b study in ulcerative colitis.
Primary endpoint portion of ICONIC-LEAD, ICONIC-TOTAL, and ANTHEM studies are expected to be completed this year.
Revenue by Segment
Forward Guidance
Protagonist anticipates multiple new development candidates in various indications over the next 12 months and expects completion of primary endpoint portions for several Phase 3 trials of JNJ-2113 and the Phase 2b study in ulcerative colitis this year.
Positive Outlook
- Potential for multiple new development candidates in various indications.
- Strong differentiation offered by oral peptides versus existing options.
- Rapid pace of enrollment in ongoing Phase 3 trials of JNJ-2113.
- Expected completion of primary endpoint portions for ICONIC-LEAD, ICONIC-TOTAL, and ANTHEM studies this year.
- Potential and differentiation of JNJ-2113 as the first and only targeted oral IL-23 receptor antagonist.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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