ACCESS Newswire·Aug 5, 2026, 4:05 PM ET

Protagonist Reports Second Quarter 2026 Financial Results and Provides Corporate Update

PTGX

Protagonist Therapeutics reported its first full quarter of commercial sales for ICOTYDE™ in Q2 2026, generating strong early adoption for the oral IL-23 receptor antagonist.
The NDA for rusfertide to treat polycythemia vera is under FDA Priority Review with a PDUFA date scheduled for August 2026.
Takeda holds exclusive global rights to rusfertide following an April 2026 opt-out, triggering a $200 million payment to Protagonist plus potential milestone payments up to $775 million and tiered royalties.
A comprehensive Phase 2b program for PN-881, an oral IL-17 antagonist for psoriasis, is planned to initiate in early Q1 2027 based on supportive Phase 1 pharmacokinetic data.
A Phase 1 study for PN-477sc, a triple GLP1/GIP/GCG agonist peptide for obesity, has been initiated, with oral formulation studies anticipated in H1 2027.
Cash, cash equivalents, and marketable securities totaled $849.5 million as of June 30, 2026, an increase from $646.0 million at the end of 2025.
License and collaboration revenue reached $213.5 million for the quarter ended June 30, 2026, primarily driven by proportional recognition of the Takeda opt-out payment.
The company reported a net income of $162.8 million for Q2 2026, a significant turnaround from a net loss of $34.8 million in the same period in 2025.
R&D expenses are expected to increase significantly in the second half of 2026 due to the advancement of PN-881, clinical manufacturing investments, and increased headcount.
Additional clinical programs include PN-458o (dual GLP/GIP agonist) and PN-8047 (oral hepcidin mimetic), both with Phase 1 initiation anticipated in the second half of 2027 or Q1 2027 respectively.