Protagonist Therapeutics Q3 net loss widens to $39.3 mln

Overview

• Protagonist Therapeutics reports Q3 net loss of $39.3 mln, increased R&D expenses noted

• Cash reserves of $678.8 mln expected to sustain operations through 2028

• NDA for icotrokinra submitted to FDA, rusfertide gets breakthrough designation

Outlook

• Protagonist expects rusfertide NDA filing by end of 2025

• Company anticipates PN-477sc clinical study initiation by mid-2026

• Protagonist plans to nominate oral hepcidin candidate by year-end

Result Drivers

• R&D EXPENSES - Increased by $4 mln from the prior year, primarily due to increases in drug discovery and pre-clinical research expenses

• G&A EXPENSES - Increased by $1 mln primarily due to increases in professional services

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Protagonist Therapeutics Inc is $81.00, about 3.9% above its November 5 closing price of $77.88

Press Release: ID:nACSR1Tsma

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)