Protagonist Therapeutics Announces First Quarter 2025 Financial Results

Protagonist Therapeutics reported significant milestones in the first quarter of 2025. The company highlighted promising outcomes from the rusfertide Phase 3 VERIFY trial in polycythemia vera, with data accepted for presentation at the American Society of Clinical Oncology (ASCO) on June 1st. Additionally, the icotrokinra Phase 2b ANTHEM trial in ulcerative colitis also showed positive results.

The firm's cash reserves reached $697.9 million at the end of March 2025, expected to sustain operations through 2028. Revenues for the first quarter stood at $28.3 million, while net losses amounted to $11.7 million, compared to a net income of $207.3 million the previous year. The decrease was attributed to the absence of the prior year's one-time collaboration revenue from Takeda Pharmaceuticals.

Protagonist continues to focus on advancing pre-clinical candidates, including the oral IL-17 antagonist PN-881. Looking ahead, New Drug Application filings for rusfertide and icotrokinra are anticipated by the year-end.