Earnings ·
Reports Q3 net income of $220M on $275M MIMRYLO milestone; cash balance reaches $834.6M
PTGXProtagonist Therapeutics, Inc
Protagonist Therapeutics reported third-quarter 2026 net income of $220 million, or $3.32 per basic share, driven primarily by the proportional recognition of a $275 million payment from Takeda triggered by the FDA approval of MIMRYLO for polycythemia vera. License and collaboration revenue surged to $274.4 million in the quarter, compared to $4.7 million in the prior-year period. The company ended the quarter with $834.6 million in cash, cash equivalents, and marketable securities. Additionally, Protagonist announced a $300 million share repurchase program authorized in September 2026. The biopharmaceutical company develops peptide therapeutics and generates revenue through royalties and milestones from global partnerships.