Protagonist Therapeutics, Inc. (PTGX)
NASDAQHealth CareBiotechnologySnapshot 2026-11-04
$135.26-5.66%
Close 2026-11-05 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-11-04
QuarterlyIQ Insights · PTGX
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
"The second quarter of 2026 marked a defining growth phase for Protagonist with a successful commercial launch of ICOTYDE through our strategic partner and accelerating momentum across our internal R…
Stated in 3 of 3 supplied quarters. Management reported: “The second quarter of 2026 represents ICOTYDE's first full quarter of commercial sales.” “License and collaboration revenue of $269.8 million for six months ended June 30, 2026 consisted primarily of (i) $192.4 million related to proportional recognition of the initial $200.0 million opt-out payment received from Takeda, (ii) $27.4 million for ongoing development services, including post opt-out wind down services, and rusfertide clinical supplies provided by us under the Takeda Collaboration Agreement and other revenues, and (iii) a $50.0 million milestone earned from JNJ in Q1 2026 upon FDA approval of ICOTYDE.”
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated strong grew net income 53% of the time over the next year (vs 42% for the rest of the cohort, n=10089).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“"The second quarter of 2026 marked a defining growth phase for Protagonist with a successful commercial launch of ICOTYDE through our strategic partner and accelerating momentum across our internal R…”
““These accomplishments, together with the additional financial resources afforded by our rusfertide opt-out election and future milestones and royalty payments from ICOTYDE and rusfertide, position P…”
““We see the next 12 to 24 months as a period of significant growth and value creation for Protagonist, driven by a combination of the anticipated regulatory and commercial milestones and royalties fr…”
ICOTYDE is quickly becoming a paradigm-shifting oral therapy for patients with moderate-to-severe plaque psoriasis, and rusfertide is approaching an FDA decision that could establish it as a first-in…
Stated in 3 of 3 supplied quarters. Management reported: “ICOTYDE is quickly becoming a paradigm-shifting oral therapy for patients with moderate-to-severe plaque psoriasis, and rusfertide is approaching an FDA decision that could establish it as a first-in-class erythrocytosis targeted medicine for patients with polycythemia vera,” said Dinesh V.” “The approval triggered a $50 million milestone payment to Protagonist in the first quarter of 2026.”
“ICOTYDE is quickly becoming a paradigm-shifting oral therapy for patients with moderate-to-severe plaque psoriasis, and rusfertide is approaching an FDA decision that could establish it as a first-in…”
““The first quarter of 2026 marked a series of landmark achievements for Protagonist, highlighted by the U.S. approval of ICOTYDE, FDA granting Priority Review for rusfertide, and advancement of our h…”
““We see the next 12 to 24 months as a period of significant growth and value creation for Protagonist, driven by a combination of the anticipated regulatory and commercial milestones and royalties fr…”
These are the results of years of disciplined investment in differentiated science and mark the beginning, not the culmination, of a new phase of value creation as we continue to advance our peptide…
Stated in 3 of 3 supplied quarters. Management reported: “License and collaboration revenue of $33.9 million for the six months ended June 30, 2025 consisted of: (i) $23.4 million related to proportional recognition of the $25 million milestone earned in Q1 2025 but payable following completion of the VERIFY clinical study report, and (ii) $10.5 million allocated to development services provided by us under the agreement during the period.”
“These are the results of years of disciplined investment in differentiated science and mark the beginning, not the culmination, of a new phase of value creation as we continue to advance our peptide…”
““These accomplishments, together with the additional financial resources afforded by our rusfertide opt-out election and future milestones and royalty payments from ICOTYDE and rusfertide, position P…”
““We see the next 12 to 24 months as a period of significant growth and value creation for Protagonist, driven by a combination of the anticipated regulatory and commercial milestones and royalties fr…”
Expand R&D spending to support clinical development, manufacturing readiness, and discovery programs including new peptide candidates.
Continue to advance the robust R&D pipeline to drive future growth.
Over the trailing year it converted 0.29x of net income into operating cash flow. Historically, Health Care names rated fragile grew net income 34% of the time over the next year (vs 53% for the rest of the cohort, n=2525).
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, the broad stock market, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity (low R² over the window).
4 material management or governance events in the past 24 months, led by M&A activity. Historically, Health Care names rated stable grew net income 43% of the time over the next year (vs 45% for the rest of the cohort, n=9530).
Not investment advice. As of 2026-11-04.