PTGX Protagonist Therapeutics, Inc
FY2025 10-K
Protagonist Therapeutics, Inc (PTGX) filed its fiscal year 2025 10-K annual report with the SEC on Feb 25, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
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
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
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
Financial SummaryXBRL
Revenue
$46M
Net Income
-$130M
Operating Margin
-343.6%
Net Margin
-282.8%
ROE
-21.2%
Total Assets
$668M
EPS (Diluted)
$-2.05
Operating Cash Flow
$58M
Source: XBRL data from Protagonist Therapeutics, Inc FY2025 10-K filing on SEC EDGAR. All figures in USD.
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