$PTGX
Protagonist Therapeutics, Inc

2020 Q3 Form 10-Q Financial Statement

#000155837020009681 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $13.11M $6.220M -$8.190M
YoY Change 216.76% -175.95% -170.18%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.890M $4.180M $3.860M
YoY Change 21.64% 8.29% 21.38%
% of Gross Profit
Research & Development $16.00M $20.26M $19.36M
YoY Change -7.51% 4.66% 9.1%
% of Gross Profit
Depreciation & Amortization $180.0K $200.0K $180.0K
YoY Change -5.26% 11.11% 5.88%
% of Gross Profit
Operating Expenses $20.89M $24.43M $23.22M
YoY Change -1.98% 5.24% 11.04%
Operating Profit -$7.772M -$18.22M -$31.41M
YoY Change -54.73% -42.0%
Interest Expense $19.00K $209.0K $600.0K
YoY Change -97.12% -65.17% 3.45%
% of Operating Profit
Other Income/Expense, Net -$59.00K $512.0K -$37.00K
YoY Change -44.34% -1483.78%
Pretax Income -$7.763M -$18.29M -$30.80M
YoY Change -52.98% -40.62% 255.69%
Income Tax $0.00 $1.100M -$1.600M
% Of Pretax Income
Net Earnings -$7.763M -$19.42M -$29.17M
YoY Change -52.69% -33.43% 236.88%
Net Earnings / Revenue -59.2% -312.23%
Basic Earnings Per Share
Diluted Earnings Per Share -$207.5K -$592.1K -$1.183M
COMMON SHARES
Basic Shares Outstanding 36.81M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $194.0M $208.7M $126.1M
YoY Change 40.89% 65.5% 0.72%
Cash & Equivalents $83.63M $146.2M $71.14M
Short-Term Investments $110.3M $62.40M $55.00M
Other Short-Term Assets $6.800M $5.500M $4.900M
YoY Change 61.9% 12.24% 63.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $204.2M $217.5M $137.3M
YoY Change 41.77% 58.39% 0.88%
LONG-TERM ASSETS
Property, Plant & Equipment $1.459M $1.553M $8.200M
YoY Change -81.76% -81.06% 811.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.000M
YoY Change
Other Assets $500.0K $500.0K $2.600M
YoY Change -80.77% -80.77% 420.0%
Total Long-Term Assets $13.17M $7.514M $10.80M
YoY Change 24.24% -30.43% 671.43%
TOTAL ASSETS
Total Short-Term Assets $204.2M $217.5M $137.3M
Total Long-Term Assets $13.17M $7.514M $10.80M
Total Assets $217.3M $225.0M $148.1M
YoY Change 40.57% 51.91% 7.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.797M $2.855M $2.800M
YoY Change 74.81% 1.96% 21.74%
Accrued Expenses $15.52M $12.92M $12.00M
YoY Change 34.94% 7.64% -8.4%
Deferred Revenue $16.77M $17.23M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.56M $35.36M $33.30M
YoY Change 25.2% 6.19% 14.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $170.0K $92.00K $30.50M
YoY Change -99.4% -99.7% 3712.5%
Total Long-Term Liabilities $170.0K $92.00K $30.50M
YoY Change -99.4% -99.7% 3712.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.56M $35.36M $33.30M
Total Long-Term Liabilities $170.0K $92.00K $30.50M
Total Liabilities $47.73M $57.50M $63.80M
YoY Change -19.51% -9.88% 114.09%
SHAREHOLDERS EQUITY
Retained Earnings -$264.9M -$257.2M
YoY Change
Common Stock $434.6M $424.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $169.6M $167.5M $84.32M
YoY Change
Total Liabilities & Shareholders Equity $217.3M $225.0M $148.1M
YoY Change 40.57% 51.91% 7.71%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$7.763M -$19.42M -$29.17M
YoY Change -52.69% -33.43% 236.88%
Depreciation, Depletion And Amortization $180.0K $200.0K $180.0K
YoY Change -5.26% 11.11% 5.88%
Cash From Operating Activities -$16.29M -$21.48M $3.670M
YoY Change 14.32% -685.29% -123.83%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$130.0K -$890.0K
YoY Change -125.81% -85.39% 1171.43%
Acquisitions
YoY Change
Other Investing Activities -$54.05M -$5.040M -$12.33M
YoY Change 67.08% -59.12% -227.64%
Cash From Investing Activities -$54.12M -$5.170M -$13.23M
YoY Change 68.91% -60.92% -237.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.670M 112.6M 10.63M
YoY Change -69.61% 959.08% 15085.71%
NET CHANGE
Cash From Operating Activities -16.29M -21.48M 3.670M
Cash From Investing Activities -54.12M -5.170M -13.23M
Cash From Financing Activities 7.670M 112.6M 10.63M
Net Change In Cash -62.74M 85.93M 1.070M
YoY Change 198.05% 7930.84% -118.64%
FREE CASH FLOW
Cash From Operating Activities -$16.29M -$21.48M $3.670M
Capital Expenditures -$80.00K -$130.0K -$890.0K
Free Cash Flow -$16.21M -$21.35M $4.560M
YoY Change 11.33% -568.2% -129.75%

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StockIssuedDuringPeriodValueShareBasedCompensation
477000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3992000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
66000
us-gaap Net Income Loss
NetIncomeLoss
-43277000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
84316000
us-gaap Profit Loss
ProfitLoss
-39501000
us-gaap Profit Loss
ProfitLoss
-43277000
us-gaap Share Based Compensation
ShareBasedCompensation
4044000
us-gaap Share Based Compensation
ShareBasedCompensation
3992000
us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
1412000
us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
-1446000
ptgx Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
887000
ptgx Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
903000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-585000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
419000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
306000
ptgx Amortization Of Debt Issuance Costs And Debt Instrument Accretion Of Final Payment Fee
AmortizationOfDebtIssuanceCostsAndDebtInstrumentAccretionOfFinalPaymentFee
22000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
243000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
209000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
278000
CY2019Q4 ptgx Cash Equivalents And Marketable Securities Fair Value
CashEquivalentsAndMarketableSecuritiesFairValue
131718000
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
31707000
CY2019Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
100011000
CY2019Q4 ptgx Cash Equivalents And Marketable Securities Fair Value
CashEquivalentsAndMarketableSecuritiesFairValue
131718000
CY2020Q2 ptgx Accrued Clinical And Research Related Expenses Current
AccruedClinicalAndResearchRelatedExpensesCurrent
9424000
CY2019Q4 ptgx Accrued Clinical And Research Related Expenses Current
AccruedClinicalAndResearchRelatedExpensesCurrent
7232000
CY2020Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2808000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
248000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1804000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
73000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-2998000
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-259000
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-251000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
382000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-319000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-7517000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
33344000
ptgx Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
958000
ptgx Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
931000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
92000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-37330000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12992000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
104583000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
44400000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
66753000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
52459000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
271000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1058000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
37559000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9117000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
105689000
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
16834000
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
10543000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
991000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
477000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
14000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10524000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
112976000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11020000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
113236000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11090000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33466000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82693000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146702000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
71603000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
21000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
82000
ptgx Tenant Improvement Allowance Reimbursement
TenantImprovementAllowanceReimbursement
469000
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-257200000
CY2019Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
4637000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, accruals for research and development activities, stock-based compensation, income taxes, marketable securities and leases. Estimates related to revenue recognition include actual costs incurred versus total estimated costs of the Company’s deliverables to determine percentage of completion in addition to the application and estimates of potential revenue constraints in the determination of the transaction price under its license and collaboration agreements. Management bases these estimates on historical and anticipated results, trends, and various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to forecasted amounts and future events. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;min-height:12.0pt;text-indent:24pt;margin:0pt;">Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company has taken into consideration any known COVID-19 impacts in its accounting estimates to date and is not aware of any additional specific events or circumstances that would require any additional updates to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of this Quarterly Report on Form 10-Q. These estimates may change as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="visibility:hidden;">​</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents and marketable securities. Substantially all of the Company’s cash is held by two financial institutions that management believes are of high credit quality. Such deposits may, at times, exceed federally insured limits. The primary focus of the Company’s investment strategy is to preserve capital and to meet liquidity requirements. The Company’s cash equivalents and marketable securities are managed by external managers within the guidelines of the Company’s investment policy. The Company’s investment policy addresses the level of credit exposure by limiting concentration in any one corporate issuer and establishing a minimum allowable credit rating. To manage its credit risk exposure, the Company maintains its portfolio of cash equivalents and marketable securities in fixed income securities denominated and payable in U.S. dollars. Permissible investments of fixed income securities include obligations of the U.S. government and its agencies, money market instruments including commercial paper and negotiable certificates of deposit, and highly rated corporate debt obligations and money market funds. As of the date of issuance of these condensed consolidated financial statements, the COVID-19 pandemic has not had a material impact on the Company’s credit exposure, and the extent to which the COVID-19 pandemic may materially impact the Company's future level of credit exposure is uncertain.</p>
CY2020Q2 ptgx Cash Number Of Financial Institutions
CashNumberOfFinancialInstitutions
2
CY2020Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
649000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
301000
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
68000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
146242000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
71143000
CY2020Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
10000
CY2019Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
10000
CY2020Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
450000
CY2019Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
450000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146702000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
71603000
ptgx Threshold Number Of Performance Obligation To Allocate Transaction Price
ThresholdNumberOfPerformanceObligationToAllocateTransactionPrice
1
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
113600000
CY2020Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2100000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3300000
CY2019Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1600000
CY2019Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1600000
CY2020Q2 ptgx Cash Equivalents And Marketable Securities Amortized Cost
CashEquivalentsAndMarketableSecuritiesAmortizedCost
203432000
CY2020Q2 ptgx Cash Equivalents And Marketable Securities Gross Unrealized Gain
CashEquivalentsAndMarketableSecuritiesGrossUnrealizedGain
19000
CY2020Q2 ptgx Cash Equivalents And Marketable Securities Gross Unrealized Loss
CashEquivalentsAndMarketableSecuritiesGrossUnrealizedLoss
1000
CY2020Q2 ptgx Cash Equivalents And Marketable Securities Fair Value
CashEquivalentsAndMarketableSecuritiesFairValue
203450000
CY2020Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
141027000
CY2020Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
62423000
CY2020Q2 ptgx Cash Equivalents And Marketable Securities Fair Value
CashEquivalentsAndMarketableSecuritiesFairValue
203450000
CY2019Q4 ptgx Cash Equivalents And Marketable Securities Amortized Cost
CashEquivalentsAndMarketableSecuritiesAmortizedCost
131699000
CY2019Q4 ptgx Cash Equivalents And Marketable Securities Gross Unrealized Gain
CashEquivalentsAndMarketableSecuritiesGrossUnrealizedGain
27000
CY2019Q4 ptgx Cash Equivalents And Marketable Securities Gross Unrealized Loss
CashEquivalentsAndMarketableSecuritiesGrossUnrealizedLoss
8000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
32800000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.46
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
122000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12917000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12360000
CY2020Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0785
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10000000
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
222000
CY2019Q4 ptgx Debt Instrument Accrued Final Payment Fee
DebtInstrumentAccruedFinalPaymentFee
16000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
9794000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3681521
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.64
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y9M10D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1141600
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.51
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
113808
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.52
us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
171327
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.88
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4537986
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.04
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M24D
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
32800000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2383602
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.02
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y10M13D
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
16000000.0
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4537986
ptgx Expected Volatility Calculation Percentage Of Average Volatility Expected Term Of Stock Option Grants
ExpectedVolatilityCalculationPercentageOfAverageVolatilityExpectedTermOfStockOptionGrants
0.75
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
11.04
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y10M24D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
10.08
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
142000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.80
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
131147
ptgx Expected Volatility Calculation Percentage Of Volatility Of Stock Price Since Ipo
ExpectedVolatilityCalculationPercentageOfVolatilityOfStockPriceSinceIpo
0.25
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
278482
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
9.52
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
26727
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
8.97
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
262608
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
9.24
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1996000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2013000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4044000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3992000
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
14700000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M24D
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1100000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1300000
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.062
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.034
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1600000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1400000
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.053
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.032
us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-1100000
CY2019Q2 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-1100000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q1 ptgx Net Operating Loss Carryback
NetOperatingLossCarryback
P5Y
CY2020Q1 ptgx Deduction Of Taxable Income Percentage
DeductionOfTaxableIncomePercentage
0.80
CY2020Q2 ptgx California Net Operating Loss Deductions Limit Of Income
CaliforniaNetOperatingLossDeductionsLimitOfIncome
1000000
CY2020Q2 ptgx Maximum Offset Of California Tax
MaximumOffsetOfCaliforniaTax
5000000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-19421000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-29174000
us-gaap Net Income Loss
NetIncomeLoss
-39501000
us-gaap Net Income Loss
NetIncomeLoss
-43277000
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32799691
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24662779
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30251805
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24481186
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.59
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.18
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.31
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.77
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7588812
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6936015
CY2020Q2 ptgx Percentage Of Employee Base Impacted By Restructuring Plan
PercentageOfEmployeeBaseImpactedByRestructuringPlan
0.12
CY2020Q2 us-gaap Restructuring Charges
RestructuringCharges
300000

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