Companies / PTGX Protagonist Therapeutics, Inc (PTGX)
Protagonist Therapeutics, Inc. operates as a discovery and development company in the United States. It develops Icotyde, a first-in-class investigational targeted oral peptide for the treatment of adults and pediatric patients 12 years of age and older with moderate-to-severe plaque psoriasis; and Rusfertide, a first-in-class investigational injectable mimetic of the natural hormone hepcidin in Phase 3 development for the treatment of the rare blood disorder polycythemia vera. The company is also developing PN-881, a potential best-in-class oral peptide IL-17 antagonist, for the treatment of immune-mediated skin diseases in Phase 1 clinical trials; PN-477 and PN-458, which are development candidates for the treatment of obesity; PN-8047, an orally administered hepcidin functional mimetic small molecule; L-4R alpha antagonist for the treatment of atopic dermatitis and moderate-to-severe asthma; and amylinR-based oral and subcutaneous mono- and poly-agonists for the treatment of obesity. Protagonist Therapeutics, Inc. was incorporated in 2006 and is headquartered in Newark, California.
Ticker PTGX Exchange Nasdaq Sector Healthcare Industry Biotechnology Market cap $8.61B 52-week range $76.70 - $160.81 Valuation Share price $132.04 (close of Nov 6, 2026) P/E (TTM) 25.59x Price to book 7.94x Price to free cash flow 78.89x Enterprise value $8.12B Book value per share $16.64 Price performance Period Change 1 day -2.38% 5 days -8.84% 1 month -4.79% 3 months -9.67% 6 months +27.00% Year to date +51.18% 1 year +65.51% 3 years +710.56% 5 years +291.35% 10 years +622.71% All time +1,028.55%
Short interest As of Oct 15, 2026 Short % of float 18.49% Shares short 10.30M Days to cover 12.02 Change since prior report +10.19% Source FINRA consolidated short interest Profitability and growth Return on equity -21.17% Return on invested capital -25.30% Return on assets -19.48% Return on capital employed -25.39% Net margin -282.83% EBITDA margin -340.85% Revenue growth -89.41% Net income growth -147.29% Free cash flow growth -69.32% Cash flow and balance sheet Free cash flow yield (TTM) 1.27% Current ratio 19.85x Net debt to EBITDA -1.51x Latest reported year Period end Dec 31, 2025 Fiscal year 2025 Revenue $46.02M EBITDA -$156.85M Net income -$130.15M Earnings per share $-2.05 Research and development $159.29M Shares outstanding 63.57M Income statement by year Period end Revenue Net income EPS 2025-12-31 $46.02M -$130.15M -$2.05 2024-12-31 $434.43M $275.19M $4.47 2023-12-31 $60.00M -$78.95M -$1.39 2022-12-31 $26.58M -$127.39M -$2.60 2021-12-31 $27.36M -$125.55M -$2.71 2020-12-31 $28.63M -$66.15M -$1.92 2019-12-31 $231.00K -$77.19M -$2.98 2018-12-31 $30.93M -$38.92M -$1.74 2017-12-31 $20.06M -$36.96M -$2.09 2016-12-31 - -$37.18M -$5.80
Margins and returns by year Period end Net margin Return on equity Return on capital 2025-12-31 -282.83% -21.17% -25.30% 2024-12-31 63.34% 40.75% 36.23% 2023-12-31 -131.59% -23.45% -27.72% 2022-12-31 -479.26% -59.09% -59.92% 2021-12-31 -458.94% -41.85% -41.14% 2020-12-31 -231.07% -23.66% -22.59% 2019-12-31 -33,414.29% -96.53% -82.32% 2018-12-31 -125.87% -34.59% -36.86% 2017-12-31 -184.20% -30.64% -31.42% 2016-12-31 - -42.46% -37.31%
Cash and debt by year Period end Cash Debt 2025-12-31 $128.39M - 2024-12-31 $97.25M - 2023-12-31 $186.73M - 2022-12-31 $125.74M - 2021-12-31 $123.67M - 2020-12-31 $117.36M - 2019-12-31 $33.01M $9.79M 2018-12-31 $128.85M - 2017-12-31 $144.00M - 2016-12-31 $77.60M -
Free cash flow by year Period end Free cash flow Stock-based compensation 2025-12-31 $56.08M $45.97M 2024-12-31 $182.80M $37.55M 2023-12-31 -$70.84M $29.29M 2022-12-31 -$108.93M $24.20M 2021-12-31 -$108.97M $16.39M 2020-12-31 -$72.95M $7.90M 2019-12-31 -$42.49M $8.35M 2018-12-31 -$50.43M $6.92M 2017-12-31 $3.21M $4.24M 2016-12-31 -$30.32M $2.13M
Investor relations Past earnings dates Reported Fiscal period EPS estimate 2026-11-05 Sep 2026 $2.58 2026-08-05 Jun 2026 $2.11 2026-05-05 Mar 2026 -$0.65 2026-02-25 Dec 2025 -$0.53 2025-11-06 Sep 2025 -$0.59 2025-08-06 Jun 2025 -$0.53 2025-05-06 Mar 2025 -$0.50 2025-02-21 Dec 2024 $0.06
Filings and sources Company website protagonist-inc.com SEC filings 10-K, 10-Q and 8-K on EDGAR Earnings calendar All upcoming reports Similar companies Vertex Pharmaceuticals Inc (VRTX) · Regeneron Pharmaceuticals, Inc. (REGN) · Moderna, Inc. (MRNA) · Incyte Corp (INCY) · Insmed Inc (INSM) · Bio-Techne Corp (TECH) · Thermo Fisher Scientific Inc. (TMO) · Danaher Corp (DHR)
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