What drove PTGX's Q1 2024 earnings surge?

Protagonist Therapeutics Inc (PTGX) experienced a significant surge in its Q1 2024 earnings, primarily driven by the following factors: 1. **Icotrokinra's Promising Results**: The company's Phase 2b study on icotrokinra showed promising results for ulcerative colitis, leading to a 45.82% stock surge on March 11, 2025. This positive outcome likely contributed to the revenue surge in Q1 2024. 2. **Rusfertide's Successful Trial Outcome**: The successful Phase 3 trial outcome for Rusfertide, a treatment for polycythemia vera, along with the development of Icotrokinra, has positioned PTGX for potential revenue streams upon regulatory approval. The milestone payment from Johnson & Johnson for the collaboration on icotrokinra also boosted financial stability. 3. **Strategic Collaborations**: PTGX's reliance on collaboration agreements with larger pharmaceutical companies like Janssen and Takeda has been a key aspect of its growth. These partnerships likely facilitated the development and commercialization of its therapeutics, contributing to its revenue surge. In summary, PTGX's Q1 2024 earnings surge was driven by the promising results of its clinical trials, strategic collaborations, and the potential for regulatory approvals. |code|Ticker|Name|Date|Revenue Surprise|Total Revenue|market_code| |---|---|---|---|---|---|---| |PTGX|PTGX.O|Protagonist|2024 Q1|1.34953E8|2.54953E8|185| |PTGX|PTGX.O|Protagonist|2024 Q2|-3833000|4167000|185| |PTGX|PTGX.O|Protagonist|2024 Q3|3680000|4675000|185| |PTGX|PTGX.O|Protagonist|2024 Q4||1.70638E8|185|