PTGX

Protagonist Therapeutics, Inc

7 filings tracked

healthcarebiotechnologySMALL ($300M-2B)

Signal Magnitude Chart

bullish

bearish

neutral

Signal Timeline

bullishMay 5

Swing to net income of $3.8M from a $11.7M loss YoY.

earnings beat

90%

bullishMay 5

License revenue surged 99% while G&A expenses grew only 13%.

margin expansion

70%

bullishMay 5

Secured $200M immediate payment via Takeda partnership opt-out.

capital raise

80%

bearishMay 5

R&D expenses increased 30% to $46.7M to fund new pipeline trials.

margin compression

50%

bullishMay 5

Swing to net income of $3.8M from a $11.7M loss YoY.

earnings beat

90%

bullishMay 5

License revenue surged 99% while G&A expenses grew only 13%.

margin expansion

70%

bullishMay 5

Secured $200M immediate payment via Takeda partnership opt-out.

capital raise

80%

bearishMay 5

R&D expenses increased 30% to $46.7M to fund new pipeline trials.

margin compression

50%

bullishMay 5

Swing to net income of $3.8M from a $11.7M loss YoY.

earnings beat

90%

bullishMay 5

License revenue surged 99% while G&A expenses grew only 13%.

margin expansion

70%

bullishMay 5

Secured $200M immediate payment via Takeda partnership opt-out.

capital raise

80%

bearishMay 5

R&D expenses increased 30% to $46.7M to fund new pipeline trials.

margin compression

50%

bullishMay 5

Swing to net income of $3.8M from a $11.7M loss YoY.

earnings beat

90%

bullishMay 5

License revenue surged 99% while G&A expenses grew only 13%.

margin expansion

70%

bullishMay 5

Secured $200M immediate payment via Takeda partnership opt-out.

capital raise

80%

bearishMay 5

R&D expenses increased 30% to $46.7M to fund new pipeline trials.

margin compression

50%

bullishMay 5

Swing to net income of $3.8M from a $11.7M loss YoY.

earnings beat

90%

bullishMay 5

License revenue surged 99% while G&A expenses grew only 13%.

margin expansion

70%

bullishMay 5

Secured $200M immediate payment via Takeda partnership opt-out.

capital raise

80%

bearishMay 5

R&D expenses increased 30% to $46.7M to fund new pipeline trials.

margin compression

50%

bullishMay 5

Swing to net income of $3.8M from a $11.7M loss YoY.

earnings beat

90%

bullishMay 5

License revenue surged 99% while G&A expenses grew only 13%.

margin expansion

70%

bullishMay 5

Secured $200M immediate payment via Takeda partnership opt-out.

capital raise

80%

bearishMay 5

R&D expenses increased 30% to $46.7M to fund new pipeline trials.

margin compression

50%

bullishMay 5

Swing to net income of $3.8M from a $11.7M loss YoY.

earnings beat

90%

bullishMay 5

License revenue surged 99% while G&A expenses grew only 13%.

margin expansion

70%

bullishMay 5

Secured $200M immediate payment via Takeda partnership opt-out.

capital raise

80%

bearishMay 5

R&D expenses increased 30% to $46.7M to fund new pipeline trials.

margin compression

50%

Filing History

10-QMay 5, 2026

The Q1 2026 filing depicts a company in the midst of a high-stakes transition. The approval of ICOTYDE and the strategic pivot in the Takeda partnership have provided Protagonist with a massive liquidity cushion and a blueprint for high-margin royalty income. However, the disconnect between reported net income and actual operating cash flow underscores the volatility inherent in the biotech milestone model. Investors are now weighing the company's proven ability to hit clinical milestones against the reality of its ongoing cash burn. The next six months are critical, as the market will look for the rusfertide FDA decision and progress in the obesity pipeline to determine if Protagonist can evolve from a milestone-dependent entity into a diversified commercial-stage biopharmaceutical company.