$PTGX
Protagonist Therapeutics, Inc

2022 Q4 Form 10-Q Financial Statement

#000155837022016908 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $10.29M
YoY Change -100.0% -100.0% -21.56%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.632M $6.901M $7.256M
YoY Change -8.65% -4.89% 48.38%
% of Gross Profit
Research & Development $29.88M $25.40M $36.96M
YoY Change -22.12% -31.26% 131.05%
% of Gross Profit
Depreciation & Amortization $256.0K $270.0K $213.0K
YoY Change 8.94% 26.76% 18.33%
% of Gross Profit
Operating Expenses $36.52M $32.30M $44.21M
YoY Change -19.98% -26.94% 111.68%
Operating Profit -$32.30M -$33.93M
YoY Change -4.78% 336.52%
Interest Expense $2.251M $1.157M $122.0K
YoY Change 1745.08% 848.36% 542.11%
% of Operating Profit
Other Income/Expense, Net $71.00K -$86.00K $0.00
YoY Change -646.15% -100.0%
Pretax Income -$34.19M -$31.23M -$33.80M
YoY Change -7.35% -7.61% 335.45%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$34.19M -$31.23M -$33.80M
YoY Change -7.35% -7.61% 335.45%
Net Earnings / Revenue -328.64%
Basic Earnings Per Share -$0.64 -$0.70
Diluted Earnings Per Share -$0.69 -$0.64 -$704.4K
COMMON SHARES
Basic Shares Outstanding 49.20M 49.08M 47.55M
Diluted Shares Outstanding 49.11M 47.99M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $237.4M $267.4M $314.3M
YoY Change -27.39% -14.91% 62.01%
Cash & Equivalents $125.7M $152.8M $120.5M
Short-Term Investments $111.6M $114.6M $193.8M
Other Short-Term Assets $5.670M $8.560M $8.877M
YoY Change -40.18% -3.57% 30.54%
Inventory
Prepaid Expenses
Receivables
Other Receivables $42.00K $495.0K
Total Short-Term Assets $243.1M $276.6M $327.7M
YoY Change -28.66% -15.58% 60.51%
LONG-TERM ASSETS
Property, Plant & Equipment $1.565M $1.783M $1.723M
YoY Change -12.96% 3.48% 18.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $38.17M
YoY Change 536.15%
Other Assets $225.0K $225.0K $225.0K
YoY Change 0.0% 0.0% -55.0%
Total Long-Term Assets $4.851M $5.557M $45.49M
YoY Change -30.29% -87.78% 245.42%
TOTAL ASSETS
Total Short-Term Assets $243.1M $276.6M $327.7M
Total Long-Term Assets $4.851M $5.557M $45.49M
Total Assets $247.9M $282.2M $373.2M
YoY Change -28.69% -24.39% 71.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.640M $4.715M $706.0K
YoY Change 127.5% 567.85% -74.76%
Accrued Expenses $24.96M $29.57M $33.06M
YoY Change -33.83% -10.55% 113.05%
Deferred Revenue $69.00K $32.00K $2.241M
YoY Change -95.69% -98.57% -86.63%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.18M $36.75M $39.16M
YoY Change -29.16% -6.13% 1.54%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.141M $1.804M $121.0K
YoY Change -68.81% 1390.91% -28.82%
Total Long-Term Liabilities $1.141M $1.804M $121.0K
YoY Change -68.81% 1390.91% -28.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.18M $36.75M $39.16M
Total Long-Term Liabilities $1.141M $1.804M $121.0K
Total Liabilities $32.32M $38.56M $43.52M
YoY Change -32.21% -11.39% -8.83%
SHAREHOLDERS EQUITY
Retained Earnings -$536.8M -$502.6M -$372.5M
YoY Change 31.13% 34.93% 40.62%
Common Stock $752.7M $746.7M $702.3M
YoY Change 6.06% 6.31% 61.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $215.6M $243.6M $329.7M
YoY Change
Total Liabilities & Shareholders Equity $247.9M $282.2M $373.2M
YoY Change -28.69% -24.39% 71.72%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$34.19M -$31.23M -$33.80M
YoY Change -7.35% -7.61% 335.45%
Depreciation, Depletion And Amortization $256.0K $270.0K $213.0K
YoY Change 8.94% 26.76% 18.33%
Cash From Operating Activities -$31.64M -$25.20M -$28.47M
YoY Change 17.43% -11.48% 74.77%
INVESTING ACTIVITIES
Capital Expenditures $70.00K -$162.0K -$265.0K
YoY Change -135.71% -38.87% 231.25%
Acquisitions
YoY Change
Other Investing Activities $4.005M $57.44M -$44.44M
YoY Change -85.73% -229.24% -17.78%
Cash From Investing Activities $3.935M $57.28M -$44.71M
YoY Change -85.88% -228.11% -17.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 553.0K 680.0K 1.381M
YoY Change -74.55% -50.76% -81.99%
NET CHANGE
Cash From Operating Activities -31.64M -25.20M -28.47M
Cash From Investing Activities 3.935M 57.28M -44.71M
Cash From Financing Activities 553.0K 680.0K 1.381M
Net Change In Cash -27.15M 32.75M -71.80M
YoY Change -975.43% -145.62% 14.43%
FREE CASH FLOW
Cash From Operating Activities -$31.64M -$25.20M -$28.47M
Capital Expenditures $70.00K -$162.0K -$265.0K
Free Cash Flow -$31.71M -$25.04M -$28.21M
YoY Change 18.55% -11.22% 74.0%

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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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