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Other financials

Income statement

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Revenue$213.5M+3,749%
Operating income$158.8M+478%
Net income$162.8M+568%
EPS (diluted)$2.29+516%

Balance sheet

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Cash & equivalents$420.1M+149%
Total debt$9.2M-18.3%
Total equity$841.5M+26.0%
Total assets$885.5M+23.3%

Cash flow

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Operating cash flow$219.1M
CapEx$168.0K-79.3%
Free cash flow$218.9M

Valuation

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Market cap$9.44B+182%
Enterprise value$9.03B+183%
P/E113.9×+49.6×
P/S33.5×+17.5×

Profitability

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Operating margin20.7%+9.2pp
Net margin29.4%+4.5pp
FCF margin-12,264.3%-12,527pp

Returns & leverage

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Return on equity11%+2.4pp
Debt / equity0.0×
Current ratio21.7×+4.7×

Where this comes from

Reported directly by Protagonist Therapeutics in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Protagonist Therapeutics’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:17 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-091123
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
License and collaboration revenue$213,475$5,546$269,843$33,867
Operating expenses:
Research and development42,06137,03688,80072,929
General and administrative12,64810,55125,92522,289
Total operating expenses54,70947,587114,72595,218
Income (loss) from operations158,766(42,041)155,118(61,351)
Interest income6,4297,40612,30514,979
Other (expense) income, net(81)36(28)118

Item 1. Condensed Consolidated Financial Statements (unaudited)

FAQ

What is Protagonist Therapeutics's R&D?
Protagonist Therapeutics (PTGX) reported R&D of $42.06M in Q2 2026.
How has Protagonist Therapeutics's R&D changed year-over-year?
Protagonist Therapeutics's R&D increased by 13.6% year-over-year, from $37.04M to $42.06M.
What is the long-term trend for Protagonist Therapeutics's R&D?
Over 4 years (2021 to 2025), Protagonist Therapeutics's R&D has grown at a 6.0% compound annual growth rate (CAGR), from $126.01M to $159.29M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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