$PTGX
Protagonist Therapeutics, Inc

2024 Q3 Form 10-Q Financial Statement

#000155837024011095 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $4.675M $4.167M $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.16M $9.440M $9.172M
YoY Change 32.61% 2.92% 19.26%
% of Gross Profit
Research & Development $35.97M $33.52M $33.18M
YoY Change 17.3% 1.02% -4.13%
% of Gross Profit
Depreciation & Amortization $231.0K $241.0K $237.0K
YoY Change -3.75% 1.69% -8.49%
% of Gross Profit
Operating Expenses $46.13M $42.96M $42.35M
YoY Change 20.36% 1.43% 0.12%
Operating Profit -$41.45M -$38.79M -$42.35M
YoY Change 8.16% -8.41% 2.2%
Interest Expense $7.682M $7.404M $3.913M
YoY Change 80.75% 89.22% 708.47%
% of Operating Profit
Other Income/Expense, Net $141.0K $97.00K -$19.00K
YoY Change -554.84% -610.53% -75.64%
Pretax Income -$33.63M -$31.29M -$38.46M
YoY Change -1.41% -18.64% -6.28%
Income Tax -$400.0K -$700.0K $0.00
% Of Pretax Income
Net Earnings -$33.21M -$30.62M -$38.46M
YoY Change -2.62% -20.4% -6.28%
Net Earnings / Revenue -710.37% -734.73%
Basic Earnings Per Share -$0.54 -$0.50 -$0.68
Diluted Earnings Per Share -$0.54 -$0.50 -$0.68
COMMON SHARES
Basic Shares Outstanding 58.90M 58.65M 57.25M
Diluted Shares Outstanding 61.77M 61.31M 56.78M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $468.7M $564.0M $313.4M
YoY Change 46.11% 79.96% 7.37%
Cash & Equivalents $131.1M $355.6M $235.4M
Short-Term Investments $337.6M $208.4M $78.02M
Other Short-Term Assets $2.669M $1.327M $3.490M
YoY Change 4006.15% -61.98% -61.43%
Inventory
Prepaid Expenses
Receivables
Other Receivables $11.00K
Total Short-Term Assets $476.8M $570.9M $316.9M
YoY Change 46.75% 80.14% 4.15%
LONG-TERM ASSETS
Property, Plant & Equipment $2.468M $1.780M $1.263M
YoY Change 73.68% 40.93% -35.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $114.6M $31.45M
YoY Change 5628.0%
Other Assets $225.0K $225.0K $225.0K
YoY Change 12.5% 0.0% 0.0%
Total Long-Term Assets $127.1M $43.70M $3.525M
YoY Change 2374.94% 1139.83% -43.24%
TOTAL ASSETS
Total Short-Term Assets $476.8M $570.9M $316.9M
Total Long-Term Assets $127.1M $43.70M $3.525M
Total Assets $603.9M $614.6M $320.5M
YoY Change 82.98% 91.79% 3.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.049M $3.629M $4.573M
YoY Change 143.53% -20.64% 223.87%
Accrued Expenses $20.74M $15.18M $19.37M
YoY Change -16.41% -21.65% -46.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.58M $41.58M $26.40M
YoY Change 59.97% 57.5% -34.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $27.36M $31.73M $0.00
YoY Change -100.0%
Total Long-Term Liabilities $27.36M $31.73M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.58M $41.58M $26.40M
Total Long-Term Liabilities $27.36M $31.73M $0.00
Total Liabilities $71.94M $73.31M $26.40M
YoY Change 158.16% 177.69% -37.94%
SHAREHOLDERS EQUITY
Retained Earnings -$472.2M -$439.0M -$608.9M
YoY Change -26.56% -27.9% 29.2%
Common Stock $1.003B $980.6M $903.2M
YoY Change 6.07% 8.56% 22.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $531.9M $541.3M $294.1M
YoY Change
Total Liabilities & Shareholders Equity $603.9M $614.6M $320.5M
YoY Change 82.98% 91.79% 3.21%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$33.21M -$30.62M -$38.46M
YoY Change -2.62% -20.4% -6.28%
Depreciation, Depletion And Amortization $231.0K $241.0K $237.0K
YoY Change -3.75% 1.69% -8.49%
Cash From Operating Activities -$27.86M $268.6M -$26.24M
YoY Change 4.71% -1123.79% 92.43%
INVESTING ACTIVITIES
Capital Expenditures $775.0K $28.00K $176.0K
YoY Change 93.75% -84.09% -160.69%
Acquisitions
YoY Change
Other Investing Activities -$207.9M -$88.09M $25.94M
YoY Change 1481.25% -439.62% -25.94%
Cash From Investing Activities -$208.7M -$88.12M $25.76M
YoY Change 1439.16% -442.05% -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 12.05M 2.572M 108.2M
YoY Change -65.87% -97.62% 15807.65%
NET CHANGE
Cash From Operating Activities -27.86M 268.6M -26.24M
Cash From Investing Activities -208.7M -88.12M 25.76M
Cash From Financing Activities 12.05M 2.572M 108.2M
Net Change In Cash -224.5M 183.1M 107.7M
YoY Change 4519.79% 69.99% 394.49%
FREE CASH FLOW
Cash From Operating Activities -$27.86M $268.6M -$26.24M
Capital Expenditures $775.0K $28.00K $176.0K
Free Cash Flow -$28.64M $268.6M -$26.41M
YoY Change 6.03% -1116.86% 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 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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