PTGX Stock — Protagonist Therapeutics Inc.: Cash, EV, Pipeline

Share price

$143.00

Market cap

$9,253.3M

Cash

$782.6M

Enterprise value

$8,470.7M

Balance sheet

Cash	$782.6M
Debt	$0.0M
Net cash	$782.6M
Enterprise value	$8,470.7M
Basic shares	64.7M shares
Fully diluted shares	66.2M shares
Fully diluted market cap	$9,467.8M
Cash per share	$12.10

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Pipeline assets

ICOTYDE

Approved · Active Modality: targeted oral peptide IL-23 receptor blocker

Aliases icotrokinra

Target IL-23R

Partnerships JNJ: License and Collaboration Agreement (Jul 2017; amended and restated Nov 2024); tiered royalties 6-10% on net sales; milestones for approval and additional indications

Indications

Moderate-to-severe plaque psoriasis (adults and pediatric patients 12+ years, >=40 kg) (Approved)

Status note Oral peptide targeting IL-23R; FDA approved in US Mar 2026 for moderate-to-severe plaque psoriasis.

rusfertide

Phase 3 · Active Modality: injectable peptide mimetic of hepcidin

Target hepcidin mimetic

Partnerships Takeda: worldwide license and collaboration (Jan 2024, effective Mar 2024; amended Mar 2025); Apr 2026 Protagonist exercised opt-out of US 50/50 profit/loss sharing

Indications

Polycythemia vera (PV) (Phase 3)

Status note Investigational injectable hepcidin mimetic for the rare blood disorder PV (VERIFY trial). Protagonist in three-month opt-out wind-down period transferring VERIFY trial and projects to Takeda.

PN-881

Phase 1 · Active Modality: oral peptide IL-17 antagonist

Target IL-17

Indications

Immune-mediated skin diseases (plaque psoriasis, psoriatic arthritis potential) (Phase 1)

Status note Targets three IL-17 dimers (IL-17 AA, AF and FF). First human subject dosed Oct 2025 in Phase 1 trial (NCT07153146) in healthy adults.

PN-477

Preclinical · Active Modality: peptide triple receptor agonist

Target GLP-1/GIP/GCG

Indications

Obesity (Preclinical)

Status note Novel triple GLP-1, GIP and GCG receptor agonist peptide with oral (PN-477o) and subcutaneous (PN-477sc) routes; nominated as development candidate Jun 2025.

PN-458

Preclinical · Active Modality: peptide dual receptor agonist

Target GLP-1/GIP

Indications

Obesity (Preclinical)

Status note Novel dual GLP-1 and GIP receptor agonist peptide; nominated Dec 2025; IND-enabling studies ongoing.

PN-8047

Preclinical · Active Modality: orally administered small molecule hepcidin functional mimetic

Target hepcidin functional mimetic

Indications

Polycythemia vera (PV) (Preclinical)

Status note Nominated Dec 2025; IND-enabling studies ongoing; may be complementary to injectable rusfertide for PV.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Rusfertide
Lead indication	Polycythemia Vera
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05210790	Phase 3	Active, not recruiting	Sponsor	PTGX	—	Polycythemia Vera	—
NCT06033586	Phase 3	Active, not recruiting	Sponsor	PTGX	—	Polycythemia Vera	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Protagonist Therapeutics, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	5,061,175	+2,122	5.30%	2026-08-14
ADAR1 Capital Management	960,863	-33,256	5.54%	2026-08-14
OrbiMed Advisors	42,100	no change	0.10%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

PTGX — Protagonist Therapeutics Inc.

Balance sheet

Price history

Pipeline assets

Pipeline

Active clinical trials

Institutional holders