$PTGX
Protagonist Therapeutics, Inc

2023 Q3 Form 10-Q Financial Statement

#000155837023013245 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.660M $9.172M
YoY Change 11.0% 19.26%
% of Gross Profit
Research & Development $30.66M $33.18M
YoY Change 20.71% -4.13%
% of Gross Profit
Depreciation & Amortization $240.0K $237.0K
YoY Change -11.11% -8.49%
% of Gross Profit
Operating Expenses $38.33M $42.35M
YoY Change 18.65% 0.12%
Operating Profit -$38.33M -$42.35M
YoY Change 18.65% 2.2%
Interest Expense $4.250M $3.913M
YoY Change 267.33% 708.47%
% of Operating Profit
Other Income/Expense, Net -$31.00K -$19.00K
YoY Change -63.95% -75.64%
Pretax Income -$34.11M -$38.46M
YoY Change 9.21% -6.28%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$34.11M -$38.46M
YoY Change 9.2% -6.28%
Net Earnings / Revenue
Basic Earnings Per Share -$0.58 -$0.68
Diluted Earnings Per Share -$0.58 -$0.68
COMMON SHARES
Basic Shares Outstanding 57.53M 57.25M
Diluted Shares Outstanding 59.18M 56.78M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $320.8M $313.4M
YoY Change 19.95% 7.37%
Cash & Equivalents $230.5M $235.4M
Short-Term Investments $90.20M $78.02M
Other Short-Term Assets $65.00K $3.490M
YoY Change -99.24% -61.43%
Inventory
Prepaid Expenses
Receivables
Other Receivables $11.00K
Total Short-Term Assets $324.9M $316.9M
YoY Change 17.45% 4.15%
LONG-TERM ASSETS
Property, Plant & Equipment $1.421M $1.263M
YoY Change -20.3% -35.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M
YoY Change
Other Assets $200.0K $225.0K
YoY Change -11.11% 0.0%
Total Long-Term Assets $5.135M $3.525M
YoY Change -7.59% -43.24%
TOTAL ASSETS
Total Short-Term Assets $324.9M $316.9M
Total Long-Term Assets $5.135M $3.525M
Total Assets $330.0M $320.5M
YoY Change 16.95% 3.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.252M $4.573M
YoY Change -73.45% 223.87%
Accrued Expenses $24.81M $19.37M
YoY Change -16.11% -46.56%
Deferred Revenue $3.000K
YoY Change -90.63%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $27.87M $26.40M
YoY Change -24.18% -34.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.87M $26.40M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $27.87M $26.40M
YoY Change -27.73% -37.94%
SHAREHOLDERS EQUITY
Retained Earnings -$643.0M -$608.9M
YoY Change 27.93% 29.2%
Common Stock $945.4M $903.2M
YoY Change 26.61% 22.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $302.1M $294.1M
YoY Change
Total Liabilities & Shareholders Equity $330.0M $320.5M
YoY Change 16.95% 3.21%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$34.11M -$38.46M
YoY Change 9.2% -6.28%
Depreciation, Depletion And Amortization $240.0K $237.0K
YoY Change -11.11% -8.49%
Cash From Operating Activities -$26.61M -$26.24M
YoY Change 5.59% 92.43%
INVESTING ACTIVITIES
Capital Expenditures $400.0K $176.0K
YoY Change -346.91% -160.69%
Acquisitions
YoY Change
Other Investing Activities -$13.15M $25.94M
YoY Change -122.89% -25.94%
Cash From Investing Activities -$13.56M $25.76M
YoY Change -123.68% -25.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 35.31M 108.2M
YoY Change 5092.65% 15807.65%
NET CHANGE
Cash From Operating Activities -26.61M -26.24M
Cash From Investing Activities -13.56M 25.76M
Cash From Financing Activities 35.31M 108.2M
Net Change In Cash -4.860M 107.7M
YoY Change -114.84% 394.49%
FREE CASH FLOW
Cash From Operating Activities -$26.61M -$26.24M
Capital Expenditures $400.0K $176.0K
Free Cash Flow -$27.01M -$26.41M
YoY Change 7.87% 97.93%

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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;">There has been uncertainty and disruption in the global economy and financial markets due to a number of factors, including the COVID-19 pandemic, geopolitical instability, inflationary pressures and domestic and global monetary and fiscal policy. 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 issuance of this report. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">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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