7/103 sources · 3 publishersUpdated Nov 6, 10:28 UTC
Protagonist Therapeutics posts Q3 earnings beat and launches $300 M share repurchase
Protagonist Therapeutics reported third‑quarter GAAP earnings of $3.07 per share on revenue of about $274 million, both above analyst forecasts. Net income was $220 million. The company also announced FDA approval of its MIMRYLO product and authorized a $300 million share‑repurchase program. Shares slipped 1.8% in after‑hours trading.
Why it matters
The earnings beat may support the new $300 million repurchase plan, which could provide price support for the stock. However, the modest after‑hours price decline signals that investors are weighing the results against expectations.
Key facts
- 1Q3 GAAP EPS was $3.07 per share, beating estimates by $0.38. seekingalpha.com
- 2Q3 revenue was $274.41 million. tipranks.com
- 3Net income for the quarter was $220 million. finance.yahoo.com
- 4Revenue grew 5,725.9% year‑over‑year. seekingalpha.com
- 5Shares fell 1.8% in after‑hours trading. seekingalpha.com
- 6The company authorized a $300 million share‑repurchase program. seekingalpha.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.