Protagonist Therapeutics, Inc income statement
In fiscal 2025, Protagonist Therapeutics, Inc reported revenue of $46.0m, down 89.4% on the year before, operating income of −$158m (a -343.6% margin) and net income of −$130m, or −$2.05 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 20 | 31 | 0 | 29 | 27 | 27 | 60 | 434 | 46 | 282 |
| Research and development | 46 | 59 | 65 | 75 | 126 | 126 | 120 | 138 | 159 | 175 |
| General and administrative | 12 | 14 | 16 | 19 | 27 | 32 | 33 | 43 | 45 | 48 |
| Operating income | −38 | −42 | −81 | −65 | −126 | −131 | −94 | 253 | −158 | 58 |
| Interest expense | — | — | 0 | 1 | — | — | — | — | — | — |
| Income before tax | −37 | −40 | −78 | −65 | −126 | −127 | −79 | 279 | −129 | 84 |
| Income tax | 0 | −1 | −1 | 1 | 0 | 0 | 0 | 4 | 1 | 1 |
| Net income | −37 | −39 | −77 | −66 | −126 | −127 | −79 | 275 | −130 | 83 |
| Diluted EPS | −$2.09 | −$1.74 | −$2.98 | −$1.92 | −$2.71 | −$2.60 | −$1.39 | $4.23 | −$2.05 | $1.23 |
| Diluted shares (average) | 18m | 22m | 26m | 34m | 46m | 49m | 57m | 65m | 64m | 67m |
| EBITDA | −37 | −42 | −80 | −64 | −125 | −130 | −93 | 254 | −157 | 60 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 171 | 28 | 6 | 5 | 7 | 56 | 213 |
| Research and development | 36 | 35 | 36 | 37 | 40 | 46 | 47 | 42 |
| General and administrative | 10 | 9 | 12 | 11 | 11 | 11 | 13 | 13 |
| Operating income | −41 | 127 | −19 | −42 | −46 | −50 | −4 | 159 |
| Income before tax | −34 | 134 | −12 | −35 | −39 | −44 | 2 | 165 |
| Income tax | −0 | 2 | 0 | 0 | 0 | 1 | −2 | 2 |
| Net income | −33 | 132 | −12 | −35 | −39 | −44 | 4 | 163 |
| Diluted EPS | −$0.54 | $2.01 | −$0.19 | −$0.55 | −$0.62 | −$0.70 | $0.05 | $2.29 |
| EBITDA | −41 | 127 | −19 | −42 | −46 | −50 | −3 | 159 |
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