Protagonist Therapeutics (NASDAQ:PTGX) changed 4.19% to recent value of $6.97. The stock transacted 278591 shares during most recent day however it has an average volume of 661.17K shares. It spotted trading -58.19% off 52-week high price. On the other end, the stock has been noted 55.93% away from the low price over the last 52-weeks.
On Jan. 7, 2020, Protagonist Therapeutics (NASDAQ:PTGX) revealed the achievement of a research milestone under its worldwide license and research collaboration agreement with Janssen Biotech (Janssen), for co-development activities with affiliate Janssen Research & Development, LLC, and commercialization of oral, gut-restricted IL-23 receptor antagonist PTG-200 (JNJ-67864238) and second generation peptides for all indications including inflammatory bowel disease (IBD). The successful nomination of a second-generation development candidate triggers a $5 million milestone payment to Protagonist.
We are highly encouraged by the progress with Janssen in the successful application of our technology platform for the discovery and development of gut-restricted IL-23 receptor antagonist peptides as oral targeted therapy for IBD, commented Dinesh V. Patel, Ph.D., Protagonist President and Chief Executive Officer. Our first product candidate PTG-200 remains on track for Phase 2 results in Crohn’s disease expected in 2021. This recent milestone demonstrates both the utility of the platform and our commitment to the overall strategic objective of bringing new oral medicines to patients with IBD.
According to the terms of the agreement between Protagonist and Janssen, Protagonist is eligible to receive potential payments over the life of the collaboration. The payments are in the form of research, development, regulatory and sales milestones linked to development of PTG-200 and related compounds. Protagonist also has an option to co-detail PTG-200 and related compounds in the U.S. market.
Its earnings per share (EPS) expected to touch remained 16.70% for this year .
The company has 28.60M of outstanding shares and 25.96M shares were floated in the market. According to the most recent quarter its current ratio was 4.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -3.24% from the mean of 20 days, -23.44% from mean of 50 days SMA and performed -37.70% from mean of 200 days price. Company’s performance for the week was -2.65%, -8.77% for month and YTD performance remained -1.13%.