$PTGX
Protagonist Therapeutics, Inc

2023 Q4 Form 10-Q Financial Statement

#000155837023017460 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $60.00M $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.052M $7.660M $6.632M
YoY Change 21.41% 11.0% -8.65%
% of Gross Profit
Research & Development $28.90M $30.66M $29.88M
YoY Change -3.3% 20.71% -22.12%
% of Gross Profit
Depreciation & Amortization $248.0K $240.0K $256.0K
YoY Change -3.13% -11.11% 8.94%
% of Gross Profit
Operating Expenses $36.95M $38.33M $36.52M
YoY Change 1.19% 18.65% -19.98%
Operating Profit -$38.33M
YoY Change 18.65%
Interest Expense $4.242M $4.250M $2.251M
YoY Change 88.45% 267.33% 1745.08%
% of Operating Profit
Other Income/Expense, Net $44.00K -$31.00K $71.00K
YoY Change -38.03% -63.95% -646.15%
Pretax Income $27.34M -$34.11M -$34.19M
YoY Change -179.94% 9.21% -7.35%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings $27.34M -$34.11M -$34.19M
YoY Change -179.94% 9.2% -7.35%
Net Earnings / Revenue 45.56%
Basic Earnings Per Share -$0.58
Diluted Earnings Per Share $0.45 -$0.58 -$0.69
COMMON SHARES
Basic Shares Outstanding 57.68M 57.53M 49.20M
Diluted Shares Outstanding 59.18M

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $341.6M $320.8M $237.4M
YoY Change 43.93% 19.95% -27.39%
Cash & Equivalents $186.7M $230.5M $125.7M
Short-Term Investments $154.9M $90.20M $111.6M
Other Short-Term Assets $332.0K $65.00K $5.670M
YoY Change -94.14% -99.24% -40.18%
Inventory
Prepaid Expenses
Receivables
Other Receivables $42.00K
Total Short-Term Assets $355.6M $324.9M $243.1M
YoY Change 46.28% 17.45% -28.66%
LONG-TERM ASSETS
Property, Plant & Equipment $1.195M $1.421M $1.565M
YoY Change -23.64% -20.3% -12.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M
YoY Change
Other Assets $225.0K $200.0K $225.0K
YoY Change 0.0% -11.11% 0.0%
Total Long-Term Assets $2.374M $5.135M $4.851M
YoY Change -51.06% -7.59% -30.29%
TOTAL ASSETS
Total Short-Term Assets $355.6M $324.9M $243.1M
Total Long-Term Assets $2.374M $5.135M $4.851M
Total Assets $358.0M $330.0M $247.9M
YoY Change 44.38% 16.95% -28.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $772.0K $1.252M $3.640M
YoY Change -78.79% -73.45% 127.5%
Accrued Expenses $19.36M $24.81M $24.96M
YoY Change -22.43% -16.11% -33.83%
Deferred Revenue $3.000K $3.000K $69.00K
YoY Change -95.65% -90.63% -95.69%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.27M $27.87M $31.18M
YoY Change -31.77% -24.18% -29.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $1.141M
YoY Change -100.0% -100.0% -68.81%
Total Long-Term Liabilities $0.00 $0.00 $1.141M
YoY Change -100.0% -100.0% -68.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.27M $27.87M $31.18M
Total Long-Term Liabilities $0.00 $0.00 $1.141M
Total Liabilities $21.27M $27.87M $32.32M
YoY Change -34.18% -27.73% -32.21%
SHAREHOLDERS EQUITY
Retained Earnings -$615.7M -$643.0M -$536.8M
YoY Change 14.7% 27.93% 31.13%
Common Stock $952.5M $945.4M $752.7M
YoY Change 26.54% 26.61% 6.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $336.7M $302.1M $215.6M
YoY Change
Total Liabilities & Shareholders Equity $358.0M $330.0M $247.9M
YoY Change 44.38% 16.95% -28.69%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income $27.34M -$34.11M -$34.19M
YoY Change -179.94% 9.2% -7.35%
Depreciation, Depletion And Amortization $248.0K $240.0K $256.0K
YoY Change -3.13% -11.11% 8.94%
Cash From Operating Activities $16.96M -$26.61M -$31.64M
YoY Change -153.61% 5.59% 17.43%
INVESTING ACTIVITIES
Capital Expenditures $19.00K $400.0K $70.00K
YoY Change -72.86% -346.91% -135.71%
Acquisitions
YoY Change
Other Investing Activities -$61.27M -$13.15M $4.005M
YoY Change -1629.79% -122.89% -85.73%
Cash From Investing Activities -$61.29M -$13.56M $3.935M
YoY Change -1657.48% -123.68% -85.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 527.0K 35.31M 553.0K
YoY Change -4.7% 5092.65% -74.55%
NET CHANGE
Cash From Operating Activities 16.96M -26.61M -31.64M
Cash From Investing Activities -61.29M -13.56M 3.935M
Cash From Financing Activities 527.0K 35.31M 553.0K
Net Change In Cash -43.80M -4.860M -27.15M
YoY Change 61.34% -114.84% -975.43%
FREE CASH FLOW
Cash From Operating Activities $16.96M -$26.61M -$31.64M
Capital Expenditures $19.00K $400.0K $70.00K
Free Cash Flow $16.94M -$27.01M -$31.71M
YoY Change -153.43% 7.87% 18.55%

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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 direct and indirect effects of COVID-19, 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 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">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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