美國

證券交易委員會

華盛頓特區20549

表格 10-Q


☒	根據1934年證券交易所法案第13或15(d)條的季報告

截至2024年6月30日季度結束 2024年9月30日

或


☐

到至

委託文件號碼。001-37852

PROTAGONISt THERAPEUTICS，INC.

（依憑章程所載的完整登記名稱）

特拉華州		98-0505495
(依據所在地或其他管轄區) 的註冊地或組織地點)		(美國國稅局雇主識別號碼)

7707號門道大道，140號套房 Newark, 加利福尼亞州		94560-1160
(總部辦公室地址)		（郵遞區號）
(510) 474-0170 (註冊人電話號碼，包括區號)

根據法案第12(b)條規定註冊的證券：


每種類別的名稱	交易標的（s）	每個註冊交易所的名稱
普通股, 面值為$0.00001	PTGX	輝瑞公司面臨數起分開的訴訟，這些訴訟仍在進行中，需等待第三項索賠條款的裁決。2023年9月，我們與輝瑞公司同意合併2022和2023年的訴訟，並將審判日期從2024年11月推遲至2025年上半年，具體時間將由法院確定。納斯達克股票市場，LLC

請勾選是否 (1) 依據《1934年證券交易法》第13或15(d)條的規定，在過去12個月（或登記人所必須提交此等報表的較短期間）中已提交必須提交的所有報告，並且 (2) 在過去90天中已受到此等提交要求的約束。是 ⌧不◻

根據規則405，在Regulation S-t (§232.405 of this chapter)之前的12個月中（或對於發行人需要提交此類文件的期間較短的情況下），勾選記號表示發行人是否已經電子提交了需要提交的每個交互式數據文件。是 ⌧不◻

請載明檢查標記，公司是否為大型加速披露人、加速披露人、非加速披露人、小型報告公司或新興成長公司。請於「交易所法案」第1202條中查閱「大型加速披露人」、「加速披露人」、「小型報告公司」和「新興成長公司」的定義。



大型加速文件提交者	☒	加速檔案提交者	☐
		較小報告公司	☐
非加速歸檔人	☐	新興成長型企業	☐

如果一家新興成長型公司，請勾選以下選項，以指示公司是否已選擇不使用根據《交易法》第13(a)條所提供的任何新或修訂財務會計準則的延長過渡期。 ☐

勾選表示已核實登記人是一家殼公司（按照交易所法案第120億2條定義）。2條交易所法案之一。是的 ☐不☒

截至2024年10月31日，有 59,598,018 普通股股份，每股面值0.00001美元，現有。

天主角治療股份有限公司

表格十至 Q

I
		頁面

第一部分	財務資訊

項目一。	簡明綜合財務報表（未經審核）
	簡明綜合資產負債表	1
	簡明綜合營運報表	2
	簡明綜合綜合收益表（虧損)	3
	簡明綜合股東權益表	4
	簡明綜合現金流量報表	6
	未經審核簡明綜合財務報表附註	7
項目二。	管理層對財務狀況及營運結果進行討論及分析	21
第三項目。	關於市場風險的定量和定性披露	36
第四項。	控制和程序	37

第二部分	其他資訊

項目一。	法律程序	37
項目 1A。	風險因素	37
項目二。	非登記股份證券銷售及所得款項的使用	61
第三項目。	高級證券違約	61
第四項。	礦山安全披露s	61
第五項。	其他資訊	61
第六項	展品	62
	簽名	63

第一部分 - 基本報表

項目 1。基本報表

PROTAGONISt THERAPEUTICS，INC.

縮短的合併財務報表

(未經查核)

（以千為單位，除股份及每股數據外）


	九月三十日		十二月三十一日
	2024		2023
資產
流動資產:
現金及現金等價物	$	131,121	$	186,727
有價證券		337,600		154,890
與合作夥伴應收款項		—		10,000
預付費用及其他流動資產		8,048		3,960
全部流動資產		476,769		355,577
有價證券 - 非流動		114,560		—
物業及設備，扣除折舊後淨值		2,468		1,195
Restricted cash - noncurrent		225		225
Operating lease right-of-use asset		9,835		954
總資產	$	603,857	$	357,951
負債及股東權益
流動負債：
應付賬款	$	3,049	$	772
應支付給合作夥伴		—		3
應付帳款及其他負債		20,739		19,358
預收收入		19,696		—
應納所得稅款		1,049		—
Operating lease liability		45		1,141
流動負債合計		44,578		21,274
透過應收之營業收入 - 非流動		16,509		—
非流動營業租賃負債		10,855		—
總負債		71,942		21,274
合約和可能負債
股東權益：
優先股，面額$0.01，授權股數為5,000,000股，發行且流通股數為截至2024年6月30日和2023年12月31日之184,668,188股和181,364,180股。0.00001 面值， 10,000,000 授權股份為無已發行並流通的股份		—		—
0.010.00001 面值， 180,000,000 和 90,000,000 股票份額授權的截至2024年9月30日及 2023年12月31日； 59,521,903 和 57,708,613 已發行並有效流通的股份分別截至2024年9月30日和2023年12月31日。		1		1
資本公積額額外增資		1,002,774		952,491
其他綜合損益（損失）累積額		1,336		(105)
累積虧損		(472,196)		(615,710)
股東權益總額		531,915		336,677
負債總計及股東權益	$	603,857	$	357,951

附註是這些未經審計的簡明綜合財務報表的一個組成部分。


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
License and collaboration revenue	$	4,675	$	—	$	263,795	$	—
Operating expenses:
Research and development		35,970		30,664		103,224		91,262
General and administrative		10,158		7,662		34,508		25,439
Total operating expenses		46,128		38,326		137,732		116,701
Income (loss) from operations		(41,453)		(38,326)		126,063		(116,701)
Interest income		7,682		4,252		19,462		10,656
Other income (expense), net		141		(31)		219		(245)
Income (loss) before income tax benefit (expense)		(33,630)		(34,105)		145,744		(106,290)
Income tax benefit (expense)		420		—		(2,230)		—
Net income (loss)	$	(33,210)	$	(34,105)	$	143,514	$	(106,290)
Net income (loss) per share, basic	$	(0.54)	$	(0.58)	$	2.34	$	(1.91)
Net income (loss) per share, diluted	$	(0.54)	$	(0.58)	$	2.22	$	(1.91)
Weighted-average shares used to compute net income (loss) per share, basic		61,767,934		59,182,899		61,311,310		55,542,543
Weighted-average shares used to compute net income (loss) per share, diluted		61,767,934		59,182,899		64,611,941		55,542,543


						Accumulated
				Additional		Other				Total
	Common			Paid-In		Comprehensive		Accumulated		Stockholders’
	Stock			Capital		Income (Loss)		Deficit		Equity
Three months ended September 30, 2024	Shares	Amount
Balance at June 30, 2024	58,762,063	$	1	$	980,558	$	(249)	$	(438,986)	$	541,324
Issuance of common stock under equity incentive and employee stock purchase plans	759,840		—		12,051		—		—		12,051
Stock-based compensation expense	—		—		10,165		—		—		10,165
Other comprehensive income (loss)	—		—		—		1,585		—		1,585
Net income (loss)	—		—		—		—		(33,210)		(33,210)
Balance at September 30, 2024	59,521,903	$	1	$	1,002,774	$	1,336	$	(472,196)	$	531,915


	September 30, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	32,623	$	—	$	—	$	32,623
Certificates of deposit		—		15,271		—		15,271
U.S. Treasury and agency securities		—		241,787		—		241,787
Commercial paper		—		169,249		—		169,249
Corporate debt securities		—		116,528		—		116,528
Total financial assets	$	32,623	$	542,835	$	—	$	575,458


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	19,212	$	—	$	—	$	19,212
Certificates of deposit		—		13,004		—		13,004
U.S. Treasury and agency securities		—		145,085		—		145,085
Commercial paper		—		130,296		—		130,296
Corporate debt securities		—		7,672		—		7,672
Total financial assets	$	19,212	$	296,057	$	—	$	315,269


	September 30, 2024
	Amortized		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Money market funds	$	32,623	$	—	$	—	$	32,623
Certificates of deposit		15,222		49		—		15,271
U.S. Treasury and agency securities		240,780		1,048		(41)		241,787
Commercial paper		169,156		97		(4)		169,249
Corporate debt securities		116,230		310		(12)		116,528
Total cash equivalents and marketable securities	$	574,011	$	1,504	$	(57)	$	575,458
Classified as:
Cash equivalents							$	123,298
Marketable securities - current								337,600
Marketable securities - noncurrent								114,560
Total cash equivalents and marketable securities							$	575,458


	September 30,		December 31,
	2024		2023
Prepaid clinical and research related expenses	$	3,775	$	649
Prepaid insurance		217		1,410
Prepaid licenses		599		529
Other prepaid expenses		788		1,040
Other receivable		2,669		332
Prepaid expenses and other current assets	$	8,048	$	3,960


	September 30,		December 31,
Operating Leases:	2024		2023
Operating lease right-of-use asset	$	9,835	$	954

Operating lease liability - current	$	45	$	1,141
Operating lease liability - noncurrent		10,855		—
Total operating lease liabilities	$	10,900	$	1,141

Weighted-average remaining lease term (years)		5.2		0.4
Weighted-average discount rate		5.7%		10.4%


Year Ending December 31:	Amount
Remainder of 2024	$	223
2025		1,121
2026		2,786
2027		2,881
2028		2,983
Thereafter		2,825
Total future minimum lease payments		12,819
Less: Imputed interest		(1,919)
Present value of lease liabilities	$	10,900


	Three Months Ended
	September 30,				Dollar		%
	2024		2023		Change		Change

	(Dollars in thousands)
License and collaboration revenue	$	4,675	$	—	$	4,675	*
Operating expenses:
Research and development ⁽¹⁾		35,970		30,664		5,306	17
General and administrative ⁽²⁾		10,158		7,662		2,496	33
Total operating expenses		46,128		38,326		7,802	20
Loss from operations		(41,453)		(38,326)		(3,127)	8
Interest income		7,682		4,252		3,430	81
Other income (expense), net		141		(31)		172	*
Loss before income tax benefit		(33,630)		(34,105)		475	(1)
Income tax benefit		420		—		420	*
Net loss	$	(33,210)	$	(34,105)	$	895	(3)

	PROTAGONIST THERAPEUTICS, INC.


Date: November 7, 2024	By:	/s/ Dinesh V. Patel, Ph.D.
		Dinesh V. Patel, Ph.D.
		President, Chief Executive Officer and Director
		(Principal Executive Officer)

Date: November 7, 2024	By:	/s/ Asif Ali
		Asif Ali
		Executive Vice President, Chief Financial Officer
		(Principal Financial and Accounting Officer)


	Nine Months Ended
	September 30,
	2024		2023
Cash Flows from Operating Activities
Net income (loss)	$	143,514	$	(106,290)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock-based compensation		28,461		22,692
Operating lease right-of-use asset amortization		1,651		1,751
Depreciation		708		729
Accretion of discount on marketable securities		(6,115)		(3,221)
Other		—		194
Changes in operating assets and liabilities:
Receivable from collaboration partner		10,000		10
Prepaid expenses and other assets		(4,088)		1,582
Accounts payable		2,272		(2,271)
Payable to collaboration partner		(3)		(66)
Accrued expenses and other payables		1,061		(259)
Income taxes payable		1,049		—
Deferred revenue		36,205		—
Operating lease liability		(1,385)		(2,047)
Net cash provided by (used in) operating activities		213,330		(87,196)
Cash Flows from Investing Activities
Purchase of marketable securities		(507,293)		(93,077)
Proceeds from maturities of marketable securities		217,580		115,696
Purchases of property and equipment		(1,045)		(590)
Net cash (used in) provided by investing activities		(290,758)		22,029
Cash Flows from Financing Activities
Proceeds from exercise of Warrants in exchange for issuance of Pre-Funded Warrants		—		33,813
Proceeds from issuance of common stock upon exercise of Warrants		—		559
Proceeds from issuance of common stock upon exercise of stock options and purchases under employee stock purchase plan		22,422		4,255
Tax withholding payments related to net settlement of restricted stock units		(600)		(769)
Proceeds from public offering of common stock, net of issuance costs		—		107,790
Proceeds from at-the-market offering, net of issuance costs		—		24,302
Net cash provided by financing activities		21,822		169,950
Net increase (decrease) in cash, cash equivalents and restricted cash		(55,606)		104,783
Cash, cash equivalents and restricted cash, beginning of period		186,952		125,969
Cash, cash equivalents and restricted cash, end of period	$	131,346	$	230,752
Supplemental Disclosure of Non-Cash Financing and Investing Information:
Right-of-use asset obtained in exchange for lease obligation	$	10,511	$	—


	September 30,		December 31,
	2024		2023
Laboratory equipment	$	6,224	$	5,323
Furniture and computer equipment		1,403		1,143
Leasehold improvements		1,769		963
Total property and equipment		9,396		7,429
Accumulated depreciation		(6,928)		(6,234)
Property and equipment, net	$	2,468	$	1,195