Protagonist Therapeutics (PTGX) Misses Q4 EPS by 10c, Revenues Miss

Protagonist Therapeutics (NASDAQ: PTGX) reported Q4 EPS of ($0.57), $0.10 worse than the analyst estimate of ($0.47). Revenue for the quarter came in at $2.35 million versus the consensus estimate of $4.83 million.

"We continue to advance three different clinical development candidates discovered from our proprietary peptide engineering platform and have sufficient financial resources to support these programs and reach important milestones through the end of 2020," commented Dinesh V. Patel, Ph.D., Protagonist President and Chief Executive Officer. "We are pleased to have initiated a global Phase 2 trial of PTG-300 for the treatment of beta thalassemia and expect preliminary results in the second half of 2019. Based on the broad applicability of the mechanism of action of PTG-300, we see strong potential for its development in multiple indications, and plan to initiate a second indication for PTG-300 in the second half of the year. With our partner, Janssen Biotech, we are working towards filing a U.S. Investigational New Drug (IND) application in the first half of 2019 to support a global Phase 2 study of PTG-200 in Crohn's patients. In addition, we are moving forward with the development of our oral, gut-restricted alpha-4-beta-7 integrin antagonist, PN-943, for the treatment of inflammatory bowel disease. Safety, pharmacokinetic, and pharmacodynamic results from the Phase 1 study of PN-943 in healthy volunteers are expected in the first half of 2019."

For earnings history and earnings-related data on Protagonist Therapeutics (PTGX) click here.

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