Protagonist Therapeutics swings to Q3 net income of $220.02 million
PTGX•Protagonist Therapeutics reported third-quarter 2026 net income of $220.02 million, versus a loss a year earlier, as license and collaboration revenue rose to $274.41 million. FDA approval of MIMRYLO triggered $275 million in payments, and the board authorized up to $300 million in share repurchases.
1. Third-quarter results
Protagonist Therapeutics swung to net income of $220.02 million in the third quarter of 2026 from a year-earlier loss. License and collaboration revenue rose to $274.41 million, primarily reflecting $266.6 million in proportional recognition of Takeda payments.
2. Approval and repurchases
FDA approval of MIMRYLO for erythrocytosis in adults with polycythemia vera triggered $275 million in payments. In September, the board authorized repurchases of up to $300 million of outstanding common stock.
