Protagonist Therapeutics, Inc. (PTGX) Earnings
Protagonist Therapeutics, Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $2.43. PTGX has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +827.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.65 | $0.05 | +107.7% | $56M | +381.7% |
| Nov 6, 2025 | $-0.59 | $-0.62 | -5.1% | $5M | -68.4% |
| Feb 21, 2025 | $0.06 | $1.98 | +3200.0% | $171M | +110.6% |
| Nov 7, 2024 | $-0.59 | $-0.54 | +8.5% | $5M | -88.0% |
| Feb 27, 2024 | $0.03 | $0.44 | +1425.1% | $60M | +50.0% |
| Nov 2, 2023 | $-0.68 | $-0.58 | +14.7% | — | — |
| Aug 3, 2023 | $-0.65 | $-0.68 | -4.6% | — | — |
| May 4, 2023 | $-0.69 | $-0.67 | +2.9% | — | — |
| Mar 15, 2023 | $-0.67 | $-0.69 | -3.0% | — | — |
| Aug 4, 2022 | $-0.99 | $-0.84 | +15.2% | $859000 | +86.7% |
| May 4, 2022 | $-0.67 | $-0.43 | +35.8% | $26M | +21.4% |
| Feb 28, 2022 | $-0.79 | $-0.77 | +2.5% | $9M | +69.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2020 · March 10, 2021
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- 2020 was a transformative year for Protagonist with an expanded clinical pipeline, having 5 new chemical entities in 6 clinical studies expected to complete in the next 2 years. - Develops therapies across three disease categories: blood disorders, inflammatory bowel disease, and inflammatory/autoimmune diseases via IL-23 pathway. - Rusfertide (PTG-300) progress in PV clinical trials, showing robust responses, safety, and tolerance with hematocrit control and reduced phlebotomy needs. - Collaboration with Janssen for preclinical and clinical development activities, contributing to revenue growth.
Guidance
- Look forward to continuing strong momentum in 2021 and more exciting progress in the months and years ahead.
Segment performance
In 2020, Protagonist Therapeutics reported license and collaboration revenue of $28.6 million, compared to $0.2 million in 2019. The increase in 2020 revenue was due to recognition of revenue from preclinical and clinical development activities under the collaboration agreement with Janssen. For the fourth quarter of 2020, license and collaboration revenue was $5.7 million, compared to $2.7 million in the same period of 2019.
Analyst Q&A
Q: Can you help us understand how the regulatory pathway could differ between development in low risk versus high risk PV patients who fail on current treatment options?
A: The Phase 2 study is open to all patients requiring frequent phlebotomy, regardless of cytoreductive agent use. The drug appears effective in both populations and the goal is broad utility for patients where current therapy is ineffective. Dialogue with FDA/EMA is ongoing with clarity expected in the first half of 2021.
Q: Based on your discussions with the FDA, do you believe the FDA and EMA view the regulatory pathway in PV through the same lens?
A: Dialogue is ongoing, unknowns remain, but historical comparisons like Jakafi being registered in both EU and US can be made.
Q: What other indications beyond PV and HH for which rusfertide will make mechanism for?
A: Diseases treated with phlebotomy and those with erythrocytosis, exploring multiple diseases in these categories.
Q: Focus on primary endpoint in PV Phase 3 design?
A: Key is hematocrit control below 45% over a reasonable period, which is a guideline in the disease.
Q: Systemic vs gut-restricted activity for PN-943 in IBD?
A: Protagonist's approach is gut-restricted, with preclinical and clinical proof-of-concept from previous drug. 943 is more potent, with receptor occupancy data showing high local target engagement blocking trafficking and activation of T-cells.
Q: Updates on PTG-300 conference presentations?
A: Intention to present updates at medical conferences throughout the year, not just at year-end. The drug is for patients where current therapy is ineffective, targeting those with too many phlebotomies due to ineffective current treatments.
Q: Indications for new IL-23 from Janssen partnership?
A: Collaboration is on IL-23 receptor antagonist, with potential in any disease indication where IL-23 pathway intervention is medically useful, determined by Phase 1/2 data on bioavailability, PK profile, etc.