May. 11 at 1:44 PM
BMO Capital reiterated
$PTGX Outperform;
$112, and said: Main Character Energy—Momentum Increases Upside Potential for PTGX.
$JNJ $TAK ABBV BMY ALMS ABVX
BMO Capital added—Commercial launches and anticipated approvals could enable accelerated clinical diversification and growth for Protagonist.
As of March 31, 2026, the company held cash and cash equivalents of
$620M, with an anticipated runway through ~2028.
Following the recent Icotyde approval (here) and launch, we could see potential additional indication approvals for the product into the decade, and a nearer-term rusfertide approval later this year (Aug. 2026 PDUFA).
We continue to like collaboration revenue opportunities supportive of clinical development/diversification and look for clinical derisking of earlier-stage assets for growth beyond Icotyde/rusfertide.
