Protagonist Therapeutics Shares Fall After Q2 Revenue Miss

MT Newswires Live08-06

Protagonist Therapeutics (PTGX) shares were down 2.2% in recent Tuesday trading after the company's Q2 revenue fell short of market expectations.

The company reported a Q2 loss Tuesday of $0.50 per diluted share, narrower than a loss of $0.68 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.73.

License and collaboration revenue for the quarter ended June 30 was $4.2 million. The company didn't report revenue for the same quarter a year earlier.

Analysts surveyed by Capital IQ expected revenue of $6.7 million.

As of June 30, the company said it had $595.4 million in cash, cash equivalents and marketable securities, and expected to provide a cash runway through the end of 2027.

Price: 35.02, Change: -0.77, Percent Change: -2.15

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