PTGX at a glance
Protagonist Therapeutics, Inc (PTGX, SEC CIK 1377121) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 5, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Protagonist Therapeutics, Inc (PTGX) reported revenue of $46.0 million (down 89.4% from FY2024) and a net loss of $130.1 million. Diluted EPS was -$2.05.
- As of June 30, 2026, 28 institutional investment managers tracked by SignalX reported holding Protagonist Therapeutics, Inc (PTGX) shares worth $4.1 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Ali Asif on September 30, 2026 of 12,595 shares at $141.77 per share.
- In the last 90 days, PTGX insiders reported 0 open-market purchases ($0) and 7 open-market sales ($41.4M) on Form 4, a net sale of $41.4M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $46.0M
- −89.4% vs prior year
- Insiders · 90 days
- 0 buys · 7 sells
- Net −$41.4M
- 13F holders
- 28 funds
- $4.1B · −1 vs prior quarter
- Latest 8-K
- Aug 5, 2026
- Item 7.01 · Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Development and commercialization of pharmaceutical and biological products subject to extensive U.S. and EU regulatory oversight
- New filings: July 2025 NDA by Johnson & Johnson for Icotyde; January 2026 NDA by Protagonist and Takeda for rusfertide for polycythemia vera
- Strategic focus: Emphasis on global clinical trials and international marketing with associated geopolitical and regulatory risk exposure
- Quantitative metric: Introduction of new U.S. tariffs up to 100% on branded pharmaceuticals announced September 2025, potential cost impact
- Noteworthy fact: May 2025 executive order on most-favored-nation drug pricing aiming to align U.S. prices with OECD countries affecting pricing strategy
Risk Factors
- Regulatory risk: FDA approval timing and receipt of up to $400M payments plus $75M milestone under Takeda Collaboration Agreement opt-out in 2026
- Macroeconomic risk: exposure to geopolitical instability, high interest rates, and trade policy changes potentially impacting operations and FDA agency functioning
- Operational risk: reliance on third-party clinical trial sites and contract manufacturers with accrual variability affecting R&D expense accuracy
- Market disruption risk: competition in obesity and oral hepcidin therapy markets with development of PN-477, PN-458, and PN-8047 pipeline candidates
- Financial risk: cumulative net losses of $470.7M through 2025 with increased R&D expenses of $159.3M, pressuring liquidity and funding needs
Management Discussion & Analysis
- Revenue not explicitly disclosed; milestone payments: $165M (2025), $300M upfront (2024), $25M milestone (2025)
- Net loss $130.1M in 2025 vs net income $275.2M in 2024; no margin % figures provided
- Cash from operations $57.7M (2025) down from $184.2M (2024), driven by milestone-related cash flows
- Cash flow investing: $49.3M (2025) vs $299.5M (2024) used, mainly marketable securities transactions and capex $1.6M (2025)
- Financing cash inflows $22.9M (2025) vs $25.9M (2024) from stock issuances; $0 buybacks or dividends mentioned
- Outlook: Cash $646M sufficient for at least 12 months; potential future funding needs depend on pipeline advancement and collaborations
AI summary of the PTGX 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- Takeda commercialization dependence added after April 2026 opt-out, shifting rusfertide economics to 14%–29% royalties and $775 million milestones
- Rusfertide commercialization risk: Takeda controls development, supply, resource allocation, and potential agreement termination
- Pharmaceutical tariff exposure: tariffs up to 100% authorized on covered imports effective July 31, 2026
- Clinical and manufacturing disruption risk from tariffs, inflation, geopolitical conflicts, and supply-chain interruptions
- Financing risk: deteriorating equity and credit markets could make funding more costly and dilutive or delay clinical plans
AI summary of the PTGX 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Updated corporate presentation furnished August 5, 2026 under Regulation FD
- Investor-relevant information resides in Exhibit 99.2, potentially covering pipeline and corporate developments
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results reported for quarter ended June 30, 2026
- Corporate update accompanies earnings release in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 revenue $213.5M, primarily $192.4M Takeda opt-out recognition; reported net income $162.8M versus $34.8M loss
- Cash, equivalents and marketable securities $849.5M, up from $646.0M at December 31, 2025
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Stockholders approved the 2026 Equity Incentive Plan, replacing the 2016 Plan
- Plan adds 650,000 new shares plus recycling of certain unused or forfeited 2016 Plan awards
Item 5.07: Submission of Matters to a Vote of Security Holders
- Two Class I directors, Dinesh V. Patel and Lewis T. Williams, elected through 2029
- Executive compensation approved on advisory basis, with 53,412,559 votes for
Item 2.02: Results of Operations and Financial Condition
- First-quarter 2026 financial results reported for period ended March 31, 2026
- Press release provides detailed results and corporate update, furnished with the 8-K filing
Item EX-99.1: Item EX-99.1
- ICOTYDE FDA approval generated $50.0M Q1 milestone, plus 6%-10% global sales royalties and up to $580M additional milestones
- Rusfertide Priority Review targets FDA action in August 2026, creating a near-term regulatory catalyst
AI summaries of PTGX 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for PTGX
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Ali Asif | M | Sep 30, 2026 | 28,438 | - |
| Ali Asif | M | Sep 30, 2026 | 15,650 | - |
| Ali Asif | Sell | Sep 30, 2026 | 12,595 | $141.77 |
| Ali Asif | M | Sep 30, 2026 | 9,229 | - |
| Ali Asif | M | Sep 30, 2026 | 15,650 | $19.19 |
| Ali Asif | Sell | Sep 30, 2026 | 46,034 | $141.78 |
| Ali Asif | M | Sep 30, 2026 | 5,312 | $12.17 |
| Ali Asif | M | Sep 30, 2026 | 28,438 | $23.42 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $434.4M | $46.0M |
| Operating Income | - | $252.8M | -$158.1M |
| Net Income | -$79.0M | $275.2M | -$130.1M |
| Op. Margin | - | 58.2% | -343.6% |
| Net Margin | - | 63.3% | -282.8% |
| Balance Sheet | |||
| Total Assets | - | $744.7M | $668.2M |
| Equity | $336.7M | $675.3M | $614.7M |
| ROE | -23.5% | 40.8% | -21.2% |
| Per Share | |||
| EPS | $-1.39 | $4.23 | $-2.05 |
| Cash Flow | |||
| Operating CF | - | $184.2M | $57.7M |
| CapEx | $609K | $1.4M | $1.6M |
Source: XBRL data in Protagonist Therapeutics, Inc (PTGX)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate PTGX share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 28 | $4.14B |
| Q1 2026 | 29 | $3.53B |
| Q4 2025 | 29 | $2.69B |
| Q3 2025 | 28 | $1.89B |
| Q2 2025 | 29 | $1.53B |
| Q1 2025 | 28 | $778.6M |
| Q4 2024 | 24 | $556.4M |
| Q3 2024 | 19 | $384.9M |
- BlackRock+528.5K (+5%)
- T. Rowe Price Group+484.2K (+29%)
- Franklin Resources+382.2K (+277%)
- State Street Corp+204.8K (+7%)
- Invesco Ltd+176.0K (+8%)
- Dimensional Fund Advisors−330.0K (-65%)
- Morgan Stanley−112.2K (-11%)
- Prudential Financial−10.1K (-11%)
- Raymond James Financial−9.1K (-5%)
- Ameriprise Financial−1.9K (-1%)
- Citadel Advisors LLC−1.55M
Source: 13F-HR filings on SEC EDGAR (aggregated from 214 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
PTGX filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Sep 10, 2026 | - | - | - |
| 4 | Sep 8, 2026 | - | - | - |
| 4 | Aug 12, 2026 | - | - | - |
| SC 13G | Aug 7, 2026 | - | - | |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 4 | Jun 25, 2026 | - | - | - |
| 8-K | Jun 18, 2026 | - | Analysis | - |
| 4 | Jun 11, 2026 | - | - | - |
| 4 | Jun 1, 2026 | - | - | |
| SC 13G | May 12, 2026 | - | - | |
| 4 | May 12, 2026 | - | - | |
| 4 | May 11, 2026 | - | - | |
| 10-Q | May 5, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | May 5, 2026 | - | Analysis | - |
| SC 13G | Apr 30, 2026 | - | - | |
| SC 13G | Apr 29, 2026 | - | - | |
| 4 | Apr 24, 2026 | - | - | - |
| 4 | Apr 21, 2026 | - | - | - |
| 4 | Mar 27, 2026 | - | - | - |
| 4 | Mar 27, 2026 | - | - | - |
| 4 | Mar 27, 2026 | - | - | - |
| 4 | Mar 25, 2026 | - | - | - |
| 10-K | Feb 25, 2026 | Dec 31, 2025 | Analysis |
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PTGX SEC filings: frequently asked questions
Are PTGX insiders buying or selling?
In the last 90 days, Protagonist Therapeutics, Inc (PTGX) officers, directors and 10% owners reported no open-market purchases and 7 open-market sales worth $41.4 million by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold PTGX stock?
As of June 30, 2026, the largest Protagonist Therapeutics, Inc (PTGX) holders among the 13F filers tracked by SignalX were BlackRock ($1.3 billion), Vanguard Portfolio Management LLC ($444.9 million), State Street Corp ($407.2 million), Vanguard Capital Management LLC ($349.8 million), Johnson & Johnson ($300.2 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was PTGX's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Protagonist Therapeutics, Inc (PTGX) reported revenue of $46.0 million (down 89.4% from FY2024) and a net loss of $130.1 million. Diluted EPS was -$2.05. The figures come from the XBRL data in the 10-K.
What are the main risks in PTGX's latest 10-K?
In the 10-K filed February 25, 2026, Protagonist Therapeutics, Inc (PTGX) flagged: Regulatory risk: FDA approval timing and receipt of up to $400M payments plus $75M milestone under Takeda Collaboration Agreement opt-out in 2026. Macroeconomic risk: exposure to geopolitical instability, high interest rates, and trade policy changes potentially impacting operations and FDA agency functioning. (AI summary of the Risk Factors section.)
What did PTGX report in its latest 8-K?
Protagonist Therapeutics, Inc (PTGX) filed an 8-K on August 5, 2026 reporting Item 7.01 (Regulation FD Disclosure) and Item 2.02 (Results of Operations and Financial Condition). Updated corporate presentation furnished August 5, 2026 under Regulation FD.
What are the latest PTGX SEC filings?
Protagonist Therapeutics, Inc (PTGX) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 5, 2026 and a Form 4 insider filing on October 2, 2026.
What is PTGX's SEC CIK number?
Protagonist Therapeutics, Inc (PTGX)'s SEC Central Index Key (CIK) is 1377121. EDGAR lists every PTGX filing under that number.
Ask anything about PTGX
The research agent reads PTGX's filings, financials, insider trades and 13F holders, then answers with sources.