Protagonist Therapeutics, Inc.
PTGXHealthcareNASDAQBiotechnology
Scan Results
Daily timeframeProtagonist Therapeutics, Inc. operates as a discovery and development company in the United States. The $6.10B market capitalization puts PTGX squarely in mid-cap range for its industry. It develops Icotyde, a first-in-class investigational targeted oral peptide for the treatment of adults and pediatric patients 12 years of age and older with moderate-to-severe plaque psoriasis; and Rusfertide, a first-in-class investigational injectable mimetic of the natural hormone hepcidin in Phase 3 development for the treatment of the rare blood disorder polycythemia vera.
Market Cap
$6.10B
Beta
1.88
P/E (TTM)
—
P/E (Fwd)
-138.64
EPS (TTM)
$-1.81
EPS (Fwd)
$-0.68
ROE
-17.1%
ROA
-12.4%
Cash
$547.8M
Total Debt
$9.8M
Free CF
-$77.7M
52W Change
85.9%
Annual Financials
Cash vs Debt
The balance sheet looks solid with $547.8M in cash comfortably exceeding the $9.8M debt load. A net cash position generally provides financial flexibility during uncertain economic periods. Free cash flow is running at -$77.7M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of -17.1% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has grown from $26.6M (2022) to $46.0M (2025), reflecting a 73% increase over the period.
Protagonist Therapeutics, Inc.'s elevated beta suggests the stock experiences more pronounced price movements than the overall market, which increases both upside potential and downside risk. With cash comfortably exceeding debt, PTGX has financial flexibility that may help navigate uncertain periods. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for Protagonist Therapeutics, Inc. and its sector.