Protagonist Therapeutics turns profit as ICOTYDE advances in psoriasis
Protagonist Therapeutics reported Q2 2026 results swinging to a $162.8 million profit from a $34.8 million loss, with cash and marketable securities rising to $849.5 million. The quarter included the first full three months of commercial sales for ICOTYDE after FDA approval for plaque psoriasis, triggering a $50 million milestone and generating additional Takeda payments and royalties. The pipeline includes PN-881 Phase 2b and PN-477sc Phase 1.