PTGXProtagonist Therapeutics, Inc
Pharmaceutical Preparations
- Revenue
- $46M
- 89% YoY
- Operating margin
- -343.6%
- 690% YoY
- EBITDA
- −$157M
- 162% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$410M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired100% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $27M | $27M | $60M | $434M | $46M | 89% |
| Operating income | −$126M | −$131M | −$94M | $253M | −$158M | 163% |
| Net income | −$126M | −$127M | −$79M | $275M | −$130M | 147% |
| Operating cash flow | −$108M | −$108M | −$70M | $184M | $58M | 69% |
| Capex | $1M | $795K | $609K | $1M | $2M | 17% |
| Stock-based comp | $16M | $24M | $29M | $38M | $46M | 22% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $27M · 5
- Net
- −$27M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $13M | $46M | 433 | 125 |
| FY2024 | $9M | $18M | 191 | 93 |
| FY2023 | $7M | $15M | 114 | 94 |
| FY2022 | $6M | −$5M | 54 | 90 |
| FY2021 | $6M | $12M | 170 | 100 |