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Dec 31, 2024
Protagonist Q4 2024 Earnings Report
Protagonist Therapeutics reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Protagonist Therapeutics reported a significant increase in revenue and net income for Q4 2024, driven by a $165.0 million icotrokinra milestone payment. The company also announced positive topline results for its Phase 3 ICONIC-LEAD and ICONIC-TOTAL studies for icotrokinra and is anticipating key clinical trial results for rusfertide and icotrokinra in March 2025.
Protagonist earned a $165.0 million icotrokinra milestone in Q4 2024, received in January 2025.
PN-881, a potential best-in-class oral IL-17 receptor antagonist peptide, was nominated as a development candidate in Q4 2024.
Topline results for rusfertide Phase 3 VERIFY clinical trial in polycythemia vera are expected in March 2025.
Topline results for icotrokinra Phase 2b ANTHEM clinical trial in moderate to severe ulcerative colitis are expected in March 2025.
Protagonist
Protagonist
Protagonist Revenue by Segment
Revenue by Segment
License and collaboration Revenue
CapyFin.com Forward Guidance
Protagonist Therapeutics anticipates several key milestones in the near future, including clinical trial readouts and new development candidate nominations, supported by a strong cash position.
Positive Outlook
- Topline results for rusfertide Phase 3 VERIFY clinical trial in polycythemia vera expected in March 2025.
- Topline results for icotrokinra Phase 2b ANTHEM clinical trial in moderate to severe ulcerative colitis expected in March 2025.
- Anticipated progression of oral IL-17 peptide antagonist PN-881 into clinical studies.
- Expectation to nominate new development candidates from oral obesity and oral hepcidin programs in 2025.
- Strong cash position of $559.2 million as of December 31, 2024, combined with $165.0 million milestone payment, anticipated to provide cash runway through at least end of 2028.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.