Protagonist Therapeutics reported a net loss of $11.7 million, or $0.19 per share, for the first quarter of 2025, outperforming the average analyst estimate of a $0.50 loss per share. The company's revenue for the period was $28.3 million, significantly exceeding the Street's forecast of $11.3 million.
As of March 31, 2025, Protagonist maintained a robust financial position with $697.9 million in cash, cash equivalents, and marketable securities. This strong liquidity is anticipated to provide a cash runway through at least the end of 2028, supporting ongoing development efforts.
The company highlighted multiple transformational events in Q1, including positive topline results from the rusfertide Phase 3 VERIFY trial, with full data selected for an ASCO plenary presentation. Additionally, full dataset from the icotrokinra Phase 3 ICONIC-LEAD trial was presented at the 2025 AAD Meeting, and positive topline results from the icotrokinra Phase 2b ANTHEM trial in ulcerative colitis were announced.
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