$PTGX
Protagonist Therapeutics, Inc

2024 Q2 Form 10-Q Financial Statement

#000155837024007081 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $4.167M $255.0M $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.440M $14.91M $8.605M
YoY Change 2.92% 73.27% -18.16%
% of Gross Profit
Research & Development $33.52M $33.73M $27.42M
YoY Change 1.02% 23.04% -24.51%
% of Gross Profit
Depreciation & Amortization $241.0K $236.0K $248.0K
YoY Change 1.69% -4.84% -0.4%
% of Gross Profit
Operating Expenses $42.96M $48.64M $36.02M
YoY Change 1.43% 35.04% -23.09%
Operating Profit -$38.79M $206.3M -$36.02M
YoY Change -8.41% -672.75% 70.63%
Interest Expense $7.404M $4.376M $2.491M
YoY Change 89.22% 75.67% 1382.74%
% of Operating Profit 2.12%
Other Income/Expense, Net $97.00K -$19.00K -$195.0K
YoY Change -610.53% -90.26% -1600.0%
Pretax Income -$31.29M $210.7M -$33.73M
YoY Change -18.64% -724.66% 61.13%
Income Tax -$700.0K $3.300M $0.00
% Of Pretax Income 1.57%
Net Earnings -$30.62M $207.3M -$33.73M
YoY Change -20.4% -714.8% 61.13%
Net Earnings / Revenue -734.73% 81.32%
Basic Earnings Per Share -$0.50 $3.41 -$0.67
Diluted Earnings Per Share -$0.50 $3.26 -$0.67
COMMON SHARES
Basic Shares Outstanding 58.65M 58.27M 51.28M
Diluted Shares Outstanding 61.31M 63.60M 50.57M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $564.0M $322.6M $230.8M
YoY Change 79.96% 39.81% -24.41%
Cash & Equivalents $355.6M $172.6M $127.7M
Short-Term Investments $208.4M $150.1M $103.1M
Other Short-Term Assets $1.327M $360.0K $4.926M
YoY Change -61.98% -92.69% -36.27%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $570.9M $627.6M $235.7M
YoY Change 80.14% 166.21% -30.97%
LONG-TERM ASSETS
Property, Plant & Equipment $1.780M $1.111M $1.341M
YoY Change 40.93% -17.15% -35.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $31.45M
YoY Change
Other Assets $225.0K $225.0K $225.0K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $43.70M $1.723M $4.122M
YoY Change 1139.83% -58.2% -39.15%
TOTAL ASSETS
Total Short-Term Assets $570.9M $627.6M $235.7M
Total Long-Term Assets $43.70M $1.723M $4.122M
Total Assets $614.6M $629.3M $239.9M
YoY Change 91.79% 162.35% -31.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.629M $3.507M $4.021M
YoY Change -20.64% -12.78% -43.83%
Accrued Expenses $15.18M $16.49M $16.59M
YoY Change -21.65% -0.6% -49.54%
Deferred Revenue $3.000K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $41.58M $39.91M $23.23M
YoY Change 57.5% 71.81% -46.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $31.73M $28.92M $462.0K
YoY Change 6160.17% -84.91%
Total Long-Term Liabilities $31.73M $28.92M $462.0K
YoY Change 6160.17% -84.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.58M $39.91M $23.23M
Total Long-Term Liabilities $31.73M $28.92M $462.0K
Total Liabilities $73.31M $68.83M $23.69M
YoY Change 177.69% 190.54% -49.07%
SHAREHOLDERS EQUITY
Retained Earnings -$439.0M -$408.4M -$570.5M
YoY Change -27.9% -28.41% 32.58%
Common Stock $980.6M $969.0M $786.8M
YoY Change 8.56% 23.17% 7.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $541.3M $560.4M $216.2M
YoY Change
Total Liabilities & Shareholders Equity $614.6M $629.3M $239.9M
YoY Change 91.79% 162.35% -31.13%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$30.62M $207.3M -$33.73M
YoY Change -20.4% -714.8% 61.13%
Depreciation, Depletion And Amortization $241.0K $236.0K $248.0K
YoY Change 1.69% -4.84% -0.4%
Cash From Operating Activities $268.6M -$27.43M -$34.35M
YoY Change -1123.79% -20.14% -8.81%
INVESTING ACTIVITIES
Capital Expenditures $28.00K $242.0K $10.00K
YoY Change -84.09% 2320.0% -96.34%
Acquisitions
YoY Change
Other Investing Activities -$88.09M $6.313M $9.836M
YoY Change -439.62% -35.82% -334.02%
Cash From Investing Activities -$88.12M $6.071M $9.826M
YoY Change -442.05% -38.21% -319.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.572M 7.199M 26.46M
YoY Change -97.62% -72.8% 56.35%
NET CHANGE
Cash From Operating Activities 268.6M -27.43M -34.35M
Cash From Investing Activities -88.12M 6.071M 9.826M
Cash From Financing Activities 2.572M 7.199M 26.46M
Net Change In Cash 183.1M -14.16M 1.942M
YoY Change 69.99% -829.09% -107.71%
FREE CASH FLOW
Cash From Operating Activities $268.6M -$27.43M -$34.35M
Capital Expenditures $28.00K $242.0K $10.00K
Free Cash Flow $268.6M -$27.67M -$34.36M
YoY Change -1116.86% -19.46% -9.44%

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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 assumptions used to determine standalone selling price utilized to allocate the transaction price between distinct performance obligations, assumptions used to recognize revenue over time for certain performance obligations for which a cost-based input method is used as the measure of progress and estimates of whether contingent consideration should be included in the transaction price at each reporting period. 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 may 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;">There has been uncertainty and disruption in the global economy and financial markets due to a number of factors, including geopolitical instability, inflationary pressures, high interest rates, a recessionary environment, domestic and global monetary and fiscal policy and other factors. 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 filing date 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>
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