Protagonist Therapeutics, Inc (PTGX) FY2025 10-K Annual Report
Protagonist Therapeutics, Inc (PTGX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Protagonist Therapeutics, Inc FY2025 10-K Analysis
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
Protagonist Therapeutics, Inc FY2025 Key Financial MetricsXBRL
Revenue
$46M
▼ -89.4% YoY
Net Income
-$130M
▼ -147.3% YoY
Operating Margin
-343.6%
▼ -40184bp YoY
Net Margin
-282.8%
▼ -34618bp YoY
ROE
-21.2%
▼ -6192bp YoY
Total Assets
$668M
▼ -10.3% YoY
EPS (Diluted)
$-2.05
▼ -148.5% YoY
Operating Cash Flow
$58M
▼ -68.7% YoY
Source: XBRL data from Protagonist Therapeutics, Inc FY2025 10-K filing on SEC EDGAR. All figures in USD.
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