FINWIRES · TerminalLIVE
FINWIRES

Protagonist Therapeutics Opts Out of Rusfertide US Profit-Sharing Arrangement With Takeda Pharmaceutical

By

Protagonist Therapeutics (PTGX) exercised its right to opt out of the 50/50 US profit and loss sharing arrangement under its global license and collaboration agreement with Takeda Pharmaceutical (TAK) for rusfertide, Protagonist Therapeutics said Tuesday.

As a result, Protagonist Therapeutics will be eligible to receive up to $400 million in opt-out payments.

The company will also be entitled to a $75 million milestone payment upon rusfertide's approval in the US and up to $975 million in other milestone payments and tiered royalties on net sales, according to the statement.

Takeda Pharmaceutical now holds exclusive development and commercialization rights to rusfertide in the US.

Rusfertide is under FDA Priority Review in the US for the treatment of adult patients with polycythemia vera, Protagonist Therapeutics said.

Price: $99.31, Change: $+0.84, Percent Change: +0.85%

Related Articles

Wire

Jade Gas Holdings Gets Mongolian Authority Approval for Coal Bed Methane Project Appraisal Report

Jade Gas Holdings (ASX:JGH) received approval from the Mineral Resources and Petroleum Authority of Mongolia for its appraisal report for the Tavantolgoi coal bed methane project, according to a Tuesday Australian bourse filing.The next stage in securing a long-term production license for the project is reserve booking, which will validate and register the company's maiden gas reserves under Mongolia's mineral and petroleum reporting standards, per the filing.The company's shares fell nearly 2% in recent trading on Tuesday but earlier hit their highest since May 2024.

ASX:JGH
Wire

Brown & Brown Q1 Adjusted Earnings, Revenue Rise

Brown & Brown (BRO) reported Q1 adjusted earnings late Monday of $1.39 per diluted share, up from $1.29 a year earlier.Analysts polled by FactSet expected $1.36.Revenue for the three months ended March 31 was $1.9 billion, up from $1.4 billion a year earlier.Analysts surveyed by FactSet expected $1.89 billion.The company's shares rose 2.8% in after-hours trading.

$BRO
Wire

Ranger Energy Services Q1 Earnings, Revenue Rise; Shares Fall After Hours

Ranger Energy Services (RNGR) reported Q1 earnings Monday of $0.12 per diluted share, up from $0.03 a year earlier.One analyst polled by FactSet expected $0.13.Revenue in the three months ended March 31 rose to $159.1 million from $135.2 million a year earlier.Three analysts surveyed by FactSet expected $156.2 million.Ranger Energy shares fell 10% in after-hours trading.

$RNGR