Protagonist Therapeutics, Inc
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $46.0M | $434.4M | $60.0M | $26.6M | $27.4M |
| Research and development | $159.3M | $138.1M | $120.2M | $126.2M | $126.0M |
| Operating expenses | $204.1M | $181.6M | $153.7M | $158.0M | $153.2M |
| Operating income | -$158.1M | $252.8M | -$93.7M | -$131.4M | -$125.8M |
| Pretax income | -$129.3M | $279.4M | -$79.0M | -$127.4M | -$125.6M |
| Income tax expense | $838,000 | $4.2M | $0 | $0 | $0 |
| Net income | -$130.1M | $275.2M | -$79.0M | -$127.4M | -$125.6M |
| Balance Sheet | |||||
| Cash and equivalents | $128.4M | $97.2M | $186.7M | $125.7M | $123.7M |
| Current assets | $577.6M | $591.6M | $355.6M | $243.1M | $340.7M |
| Total assets | $668.2M | $744.7M | $358.0M | $247.9M | $347.7M |
| Current liabilities | $45.4M | $47.4M | $21.3M | $31.2M | $44.0M |
| Total liabilities | $53.5M | $69.4M | $21.3M | $32.3M | $47.7M |
| Stockholders' equity | $614.7M | $675.3M | $336.7M | $215.6M | $300.0M |
| Cash Flow Statement | |||||
| Cash from operations | $57.7M | $184.2M | -$70.2M | -$108.1M | -$107.9M |
| Depreciation and amortization | $1.3M | $826,000 | $977,000 | $1.0M | $813,000 |
| Stock-based compensation | $46.0M | $37.6M | $29.3M | $24.2M | $16.4M |
| Capital expenditure | $1.6M | $1.4M | $609,000 | $795,000 | $1.1M |
| Free cash flow | $56.1M | $182.8M | -$70.8M | -$108.9M | -$109.0M |
Shares outstanding 64.3M · Free float 94.6%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.