Protagonist Therapeutics Q4 revenue drops on lower milestone payments

Protagonist Therapeutics

25/02/2026 21:49

Overview

Biopharmaceutical company reported Q4 2025 revenue decline due to lower milestone payments

Company reported Q4 net loss of $44.4 mln compared to net income last year

Company submitted NDA for rusfertide to FDA, potential approval this year

Outlook

Protagonist expects to opt-out of profit-sharing for rusfertide with Takeda in Q2 2026

Company anticipates FDA approval and launch of rusfertide this year

U.S. regulatory decision for ICOTYDE expected in 2026 with potential launch this year

Result Drivers

REVENUE DECLINE - Decrease in license and collaboration revenue attributed to lower milestone payments and variability in regulatory and sales milestones

R&D EXPENSES - Increased R&D expenses due to drug discovery and pre-clinical research, including IL-17 and obesity product candidates

Company press release: ID:nACS53kzta

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 License and Collaboration Revenue
$7.44 mln
Q4 EPS
-$0.69
Q4 Net Income
-$44.38 mln
Q4 Operating Expenses
$57.79 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Protagonist Therapeutics Inc is $102.00, about 16.7% above its February 24 closing price of $87.39

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)