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Sep 30, 2024
Protagonist Q3 2024 Earnings Report
Protagonist reported financial results for the third quarter ended September 30, 2024.
Key Takeaways
Protagonist Therapeutics reported its third quarter 2024 financial results, highlighting upcoming milestones for its drug candidates and a strong cash position to support development programs.
Top line results are expected in Q4 2024 for JNJ-2113 Phase 3 ICONIC-LEAD and Phase 3 ICONIC-TOTAL clinical trials in patients with moderate to severe psoriasis.
Top line results are expected in Q1 2025 for JNJ-2113 Phase 2b ANTHEM clinical trial in moderate to severe ulcerative colitis.
Top line results are expected in Q1 2025 for rusfertide Phase 3 VERIFY clinical trial in polycythemia vera.
The company anticipates cash runway through end of 2027, with cash, cash equivalents, and marketable securities of $583.3 million as of September 30, 2024.
Forward Guidance
Protagonist is focused on advancing its clinical trials and expects multiple data readouts in the near term, while also progressing its discovery programs.
Positive Outlook
- Top line results for JNJ-2113 Phase 3 trials in psoriasis expected in Q4 2024.
- Top line results for JNJ-2113 Phase 2b trial in ulcerative colitis expected in Q1 2025.
- Top line results for rusfertide Phase 3 trial in polycythemia vera expected in Q1 2025.
- Development candidate nomination for oral IL-17 peptide antagonist expected in Q4 2024.
- Strong cash position provides runway through end of 2027.
Historical Earnings Impact
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