$PTGX
Protagonist Therapeutics, Inc

2022 Q3 Form 10-Q Financial Statement

#000155837022012277 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $859.0K $25.72M
YoY Change -100.0% -62.08% 315.61%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.901M $7.691M $10.52M
YoY Change -4.89% 14.53% 76.13%
% of Gross Profit
Research & Development $25.40M $34.61M $36.32M
YoY Change -31.26% 30.94% 49.8%
% of Gross Profit
Depreciation & Amortization $270.0K $259.0K $249.0K
YoY Change 26.76% 40.0% 38.33%
% of Gross Profit
Operating Expenses $32.30M $42.30M $46.83M
YoY Change -26.94% 27.62% 55.02%
Operating Profit -$32.30M -$41.44M -$21.11M
YoY Change -4.78% 34.2% -12.11%
Interest Expense $1.157M $484.0K $168.0K
YoY Change 848.36% 398.97% 68.0%
% of Operating Profit
Other Income/Expense, Net -$86.00K -$78.00K $13.00K
YoY Change 36.84% -116.46%
Pretax Income -$31.23M -$41.04M -$20.93M
YoY Change -7.61% 33.06% -12.78%
Income Tax
% Of Pretax Income
Net Earnings -$31.23M -$41.04M -$20.93M
YoY Change -7.61% 33.06% -12.78%
Net Earnings / Revenue -4777.3% -81.37%
Basic Earnings Per Share -$0.64 -$0.84 -$0.43
Diluted Earnings Per Share -$0.64 -$0.84 -$0.43
COMMON SHARES
Basic Shares Outstanding 49.08M 49.05M 48.75M
Diluted Shares Outstanding 49.11M 49.05M 48.75M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $267.4M $291.9M $305.3M
YoY Change -14.91% -17.61% 11.62%
Cash & Equivalents $152.8M $120.2M $98.48M
Short-Term Investments $114.6M $171.7M $206.8M
Other Short-Term Assets $8.560M $9.049M $7.729M
YoY Change -3.57% 17.78% 24.66%
Inventory
Prepaid Expenses
Receivables
Other Receivables $495.0K $672.0K $476.0K
Total Short-Term Assets $276.6M $304.3M $341.5M
YoY Change -15.58% -18.16% 19.62%
LONG-TERM ASSETS
Property, Plant & Equipment $1.783M $1.962M $2.064M
YoY Change 3.48% 14.2% 44.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $225.0K $225.0K $225.0K
YoY Change 0.0% 0.0% 12.5%
Total Long-Term Assets $5.557M $6.210M $6.774M
YoY Change -87.78% -80.84% -46.08%
TOTAL ASSETS
Total Short-Term Assets $276.6M $304.3M $341.5M
Total Long-Term Assets $5.557M $6.210M $6.774M
Total Assets $282.2M $310.5M $348.3M
YoY Change -24.39% -23.18% 16.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.715M $1.412M $7.159M
YoY Change 567.85% -82.14% 162.04%
Accrued Expenses $29.57M $36.24M $32.87M
YoY Change -10.55% 80.35% 85.94%
Deferred Revenue $32.00K $768.0K
YoY Change -98.57% -86.69%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $36.75M $40.09M $43.46M
YoY Change -6.13% -6.71% 25.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.804M $2.446M $3.062M
YoY Change 1390.91% 1921.49% 2430.58%
Total Long-Term Liabilities $1.804M $2.446M $3.062M
YoY Change 1390.91% 1921.49% 2430.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.75M $40.09M $43.46M
Total Long-Term Liabilities $1.804M $2.446M $3.062M
Total Liabilities $38.56M $42.53M $46.52M
YoY Change -11.39% -9.09% 20.08%
SHAREHOLDERS EQUITY
Retained Earnings -$502.6M -$471.3M -$430.3M
YoY Change 34.93% 39.15% 39.8%
Common Stock $746.7M $740.0M $732.5M
YoY Change 6.31% 6.3% 29.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $243.6M $268.0M $301.8M
YoY Change
Total Liabilities & Shareholders Equity $282.2M $310.5M $348.3M
YoY Change -24.39% -23.18% 16.85%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$31.23M -$41.04M -$20.93M
YoY Change -7.61% 33.06% -12.78%
Depreciation, Depletion And Amortization $270.0K $259.0K $249.0K
YoY Change 26.76% 40.0% 38.33%
Cash From Operating Activities -$25.20M -$13.64M -$37.67M
YoY Change -11.48% -42.46% 30.98%
INVESTING ACTIVITIES
Capital Expenditures -$162.0K -$290.0K $273.0K
YoY Change -38.87% -42.0% 95.0%
Acquisitions
YoY Change
Other Investing Activities $57.44M $35.02M -$4.203M
YoY Change -229.24% 323.51% -36.8%
Cash From Investing Activities $57.28M $34.73M -$4.476M
YoY Change -228.11% 347.03% -34.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 680.0K 680.0K 16.93M
YoY Change -50.76% -99.46% 1628.8%
NET CHANGE
Cash From Operating Activities -25.20M -13.64M -37.67M
Cash From Investing Activities 57.28M 34.73M -4.476M
Cash From Financing Activities 680.0K 680.0K 16.93M
Net Change In Cash 32.75M 21.78M -25.19M
YoY Change -145.62% -80.1% -27.19%
FREE CASH FLOW
Cash From Operating Activities -$25.20M -$13.64M -$37.67M
Capital Expenditures -$162.0K -$290.0K $273.0K
Free Cash Flow -$25.04M -$13.35M -$37.94M
YoY Change -11.22% -42.47% 31.29%

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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 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. Actual results could differ materially from these estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Due to the ongoing COVID-19 pandemic, military conflict between Ukraine and Russia and inflationary pressures, there has been uncertainty and disruption in the global economy and financial markets. The Company has taken into consideration any known 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 report. 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>
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