$PTGX
Protagonist Therapeutics, Inc

2020 Q4 Form 10-Q Financial Statement

#000155837020012597 Filed on November 04, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $5.650M $13.11M $4.140M
YoY Change 107.72% 216.76% -32.35%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.990M $4.890M $4.020M
YoY Change 21.41% 21.64% 19.64%
% of Gross Profit
Research & Development $19.49M $16.00M $17.29M
YoY Change 22.5% -7.51% 42.33%
% of Gross Profit
Depreciation & Amortization $190.0K $180.0K $190.0K
YoY Change -5.0% -5.26% 26.67%
% of Gross Profit
Operating Expenses $24.48M $20.89M $21.31M
YoY Change 22.28% -1.98% 37.38%
Operating Profit -$7.772M -$17.17M
YoY Change -54.73%
Interest Expense -$50.00K $19.00K $660.0K
YoY Change -107.58% -97.12% 1.54%
% of Operating Profit
Other Income/Expense, Net -$10.00K -$59.00K -$106.0K
YoY Change -44.34%
Pretax Income -$18.89M -$7.763M -$16.51M
YoY Change 13.45% -52.98% 88.91%
Income Tax $0.00 $0.00 -$100.0K
% Of Pretax Income
Net Earnings -$18.89M -$7.763M -$16.41M
YoY Change 7.94% -52.69% 87.75%
Net Earnings / Revenue -334.34% -59.2% -396.35%
Basic Earnings Per Share
Diluted Earnings Per Share -$476.5K -$207.5K -$608.7K
COMMON SHARES
Basic Shares Outstanding 38.26M 36.81M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $305.8M $194.0M $137.7M
YoY Change 129.92% 40.89% -0.58%
Cash & Equivalents $117.4M $83.63M $50.20M
Short-Term Investments $188.5M $110.3M $87.50M
Other Short-Term Assets $6.300M $6.800M $4.200M
YoY Change 14.55% 61.9% 31.25%
Inventory
Prepaid Expenses
Receivables
Other Receivables $311.0K
Total Short-Term Assets $315.6M $204.2M $144.0M
YoY Change 117.19% 41.77% -2.37%
LONG-TERM ASSETS
Property, Plant & Equipment $1.462M $1.459M $8.000M
YoY Change -13.03% -81.76% 788.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M $6.000M
YoY Change
Other Assets $500.0K $500.0K $2.600M
YoY Change -73.68% -80.77% 420.0%
Total Long-Term Assets $8.862M $13.17M $10.60M
YoY Change -7.75% 24.24% 657.14%
TOTAL ASSETS
Total Short-Term Assets $315.6M $204.2M $144.0M
Total Long-Term Assets $8.862M $13.17M $10.60M
Total Assets $324.5M $217.3M $154.6M
YoY Change 109.45% 40.57% 3.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.075M $2.797M $1.600M
YoY Change 10.22% 74.81% -67.35%
Accrued Expenses $18.50M $15.52M $11.50M
YoY Change 49.66% 34.94% 10.58%
Deferred Revenue $14.48M $16.77M
YoY Change -18.38%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $40.24M $38.56M $30.80M
YoY Change 13.66% 25.2% 27.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $121.0K $170.0K $28.50M
YoY Change -99.59% -99.4% 3462.5%
Total Long-Term Liabilities $121.0K $170.0K $28.50M
YoY Change -99.69% -99.4% 3462.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.24M $38.56M $30.80M
Total Long-Term Liabilities $121.0K $170.0K $28.50M
Total Liabilities $44.86M $47.73M $59.30M
YoY Change -40.15% -19.51% 138.15%
SHAREHOLDERS EQUITY
Retained Earnings -$283.8M -$264.9M
YoY Change 30.39%
Common Stock $563.4M $434.6M
YoY Change 89.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $279.6M $169.6M $95.36M
YoY Change
Total Liabilities & Shareholders Equity $324.5M $217.3M $154.6M
YoY Change 109.45% 40.57% 3.83%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$18.89M -$7.763M -$16.41M
YoY Change 7.94% -52.69% 87.75%
Depreciation, Depletion And Amortization $190.0K $180.0K $190.0K
YoY Change -5.0% -5.26% 26.67%
Cash From Operating Activities -$18.86M -$16.29M -$14.25M
YoY Change 31.98% 14.32% 53.72%
INVESTING ACTIVITIES
Capital Expenditures -$120.0K -$80.00K $310.0K
YoY Change -45.45% -125.81% -321.43%
Acquisitions
YoY Change
Other Investing Activities -$74.27M -$54.05M -$32.35M
YoY Change 502.35% 67.08% -421.25%
Cash From Investing Activities -$74.41M -$54.12M -$32.04M
YoY Change 492.91% 68.91% -423.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 127.0M 7.670M 25.24M
YoY Change 1198.36% -69.61% 9.55%
NET CHANGE
Cash From Operating Activities -18.86M -16.29M -14.25M
Cash From Investing Activities -74.41M -54.12M -32.04M
Cash From Financing Activities 127.0M 7.670M 25.24M
Net Change In Cash 33.71M -62.74M -21.05M
YoY Change -297.6% 198.05% -188.89%
FREE CASH FLOW
Cash From Operating Activities -$18.86M -$16.29M -$14.25M
Capital Expenditures -$120.0K -$80.00K $310.0K
Free Cash Flow -$18.74M -$16.21M -$14.56M
YoY Change 33.19% 11.33% 59.47%

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<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;text-indent:36pt;margin:0pt 0pt 12pt 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>
us-gaap Concentration Risk Credit Risk
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<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;">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 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">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.</span></p>
CY2020Q3 ptgx Cash Number Of Financial Institutions
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CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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CY2020Q1 ptgx Net Operating Loss Carryback
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2020Q2 us-gaap Restructuring Charges
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300000

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