Protagonist Therapeutics, Inc. (Nasdaq: PTGX) announced that its Board of Directors has authorized a share repurchase program of up to $300 million of its outstanding common stock. The company plans to fund the buybacks from its cash, cash equivalents, and marketable securities, as well as from royalties and payments from collaborations with Takeda and Johnson & Johnson. As of June 30, 2026, Protagonist held $849.5 million in cash and equivalents, excluding a $200 million opt-out payment and a $75 million milestone payment from Takeda expected in the fourth quarter of 2026. The repurchase program does not obligate the company to acquire a specific number of shares and may be modified or discontinued at any time.
Protagonist Therapeutics IncProtagonist's board authorized a $300 million share repurchase program funded by its cash and collaboration payments.
Takeda Pharmaceutical Co. Ltd.
Johnson & Johnson