Protagonist Shares Up 17% After Expanded Janssen Agreement
08 Mai 2019 - 04:24PM
Dow Jones News
By Michael Dabaie
Protagonist Therapeutics Inc. (PTGX) shares were up 17% to
$10.52 in early trading.
Protagonist said earlier it expanded its license and
collaboration agreement with Johnson & Johnson's (JNJ) Janssen
Biotech Inc. for Protagonist's PTG-200 for all indications
including inflammatory bowel disease.
Under the terms of the amended agreement, Protagonist will
receive a $25 million milestone payment and will be eligible to
receive more than $1.0 billion in additional research, development,
regulatory and sales milestones.
Protagonist reported a net loss of $14.1 million for the first
quarter, versus a net loss of $7.7 million for the same period of
2018. The increase in net loss was driven primarily by a decrease
in license and collaboration revenue recognized during the first
quarter of 2019, the company said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 08, 2019 10:09 ET (14:09 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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