Protagonist Therapeutics(PTGX) - 2025 Q1 - Quarterly Results

Financial Performance - License and collaboration revenue for the first quarter of 2025 was $28.3 million, compared to$255.0 million for the same period in 2024[12] - Net loss for the first quarter of 2025 was $11.7 million, or$0.19 per share, compared to net income of $207.3 million, or$3.41 per share, for the first quarter of 2024[15] - Total stockholders' equity as of March 31, 2025, was $689.1 million, compared to$675.3 million as of December 31, 2024[23] Cash Position - Cash, cash equivalents, and marketable securities as of March 31, 2025, were $697.9 million, up from$559.2 million as of December 31, 2024[9] - The company anticipates cash runway through at least the end of 2028 based on its current cash position[2] Research and Development - Research and development expenses increased to $35.9 million in Q1 2025 from$33.7 million in Q1 2024[12] - The Phase 3 VERIFY trial of rusfertide met its primary endpoint with a significantly higher proportion of clinical responders compared to placebo (p<0.0001) during weeks 20-32[7] - Positive topline results from the Phase 2b ANTHEM trial of icotrokinra in ulcerative colitis were announced, laying the foundation for further studies[2] - The full dataset from the Phase 3 ICONIC-LEAD trial with icotrokinra was presented at the 2025 AAD Meeting in March[1] - The company is focusing on advancing pre-clinical candidates, including the oral IL-17 antagonist PN-881, in 2025[2]