Partnerships JNJ: License and Collaboration Agreement (Jul 2017; amended and restated Nov 2024); tiered royalties 6-10% on net sales; milestones for approval and additional indications
Indications
Moderate-to-severe plaque psoriasis (adults and pediatric patients 12+ years, >=40 kg)(Approved)
Status note Oral peptide targeting IL-23R; FDA approved in US Mar 2026 for moderate-to-severe plaque psoriasis.
rusfertide
Phase 3 · ActiveModality: injectable peptide mimetic of hepcidin
Target hepcidin mimetic
Partnerships Takeda: worldwide license and collaboration (Jan 2024, effective Mar 2024; amended Mar 2025); Apr 2026 Protagonist exercised opt-out of US 50/50 profit/loss sharing
Indications
Polycythemia vera (PV)(Phase 3)
Status note Investigational injectable hepcidin mimetic for the rare blood disorder PV (VERIFY trial). Protagonist in three-month opt-out wind-down period transferring VERIFY trial and projects to Takeda.
Status note Novel triple GLP-1, GIP and GCG receptor agonist peptide with oral (PN-477o) and subcutaneous (PN-477sc) routes; nominated as development candidate Jun 2025.
Status note Novel dual GLP-1 and GIP receptor agonist peptide; nominated Dec 2025; IND-enabling studies ongoing.
PN-8047
Preclinical · ActiveModality: orally administered small molecule hepcidin functional mimetic
Target hepcidin functional mimetic
Indications
Polycythemia vera (PV)(Preclinical)
Status note Nominated Dec 2025; IND-enabling studies ongoing; may be complementary to injectable rusfertide for PV.
Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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