PROTAGONIST THERAPEUTICS, INC (NASDAQ:PTGX)
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3 Months : From Apr 2019 to Jul 2019
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.
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(END) Dow Jones Newswires
May 08, 2019 10:09 ET (14:09 GMT)
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