Protagonist Therapeutics (PTGX) Operating Expenses (2015 - 2026)

Protagonist Therapeutics' (PTGX) quarterly Operating Expenses came in at $60.0 million in Q1 2026, up 26.0% year-on-year from $47.6 million in Q1 2025, and up 3.85% quarter-over-quarter from $57.8 million in Q4 2025.

Protagonist Therapeutics (PTGX) Operating Expenses (2015 - 2026) Analysis & Trends

Protagonist Therapeutics has disclosed Operating Expenses across 12 years of filings, most recently posting $60.0 million for Q1 2026.

  • Operating Expenses for Q1 2026 came in at $60.0 million, up 26.0% year-over-year; the trailing twelve-month figure through Mar 2026 was $216.5 million (up 19.91% YoY), and the FY2025 annual result was $204.1 million, up 12.42% from the prior year.
  • Operating Expenses came in at $60.0 million for Q1 2026 at Protagonist Therapeutics, up from $57.8 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $60.0 million in Q1 2026 to a low of $32.3 million in Q3 2022.
  • The 5-year median for Operating Expenses is $43.9 million (2024), against an average of $44.6 million.
  • Peak annual rise in Operating Expenses reached 55.02% in 2022, while the deepest fall reached 26.94% in 2022.
  • Protagonist Therapeutics' Operating Expenses stood at $36.5 million in 2022, then increased by 1.19% to $37.0 million in 2023, then increased by 18.69% to $43.9 million in 2024, then soared by 31.77% to $57.8 million in 2025, then climbed by 3.85% to $60.0 million in 2026.
  • The last three Operating Expenses figures came in at $60.0 million (Q1 2026), $57.8 million (Q4 2025), and $51.1 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Alterity Therapeutics 925,601.88 Bn 925,601.85 Bn - 4.33 Mn
2 Belite Bio 58,560.00 Bn 58,560.00 Bn - 32.68 Mn
3 Quantum Biopharma 17,284.41 Bn 17,284.40 Bn - 2.97 Mn
4 Legend Biotech 2,809.00 Bn 2,808.71 Bn 242.10 Mn -138.30 Mn
5 Evaxion A 1,334.43 Bn 1,334.42 Bn - -3.82 Mn
6 Akari Therapeutics 1,312.27 Bn 1,312.26 Bn - 15.76 Mn
7 Psyence Biomedical 212.16 Bn 212.16 Bn - 574,669.00
8 Vertex Pharmaceuticals 114.83 Bn 107.58 Bn 2.59 Bn 1.85 Bn
9 Abivax 91.96 Bn 91.96 Bn - -67.40 Mn
10 Protagonist Therapeutics 7.35 Bn 7.35 Bn - 60.02 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 60.02 Mn
Dec 31, 2025 57.79 Mn
Sep 30, 2025 51.13 Mn
Jun 30, 2025 47.59 Mn
Mar 31, 2025 47.63 Mn
Dec 31, 2024 43.86 Mn
Sep 30, 2024 46.13 Mn
Jun 30, 2024 42.96 Mn
Mar 31, 2024 48.64 Mn
Dec 31, 2023 36.95 Mn
Sep 30, 2023 38.33 Mn
Jun 30, 2023 42.35 Mn
Mar 31, 2023 36.02 Mn
Dec 31, 2022 36.52 Mn
Sep 30, 2022 32.30 Mn
Jun 30, 2022 42.30 Mn
Mar 31, 2022 46.83 Mn
Dec 31, 2021 45.63 Mn
Sep 30, 2021 44.21 Mn
Jun 30, 2021 33.15 Mn