Protagonist Therapeutics Reports Granting of Inducement Awards

Rhea-AI Summary

Protagonist Therapeutics (Nasdaq: PTGX) granted inducement equity awards on July 31, 2026 to two newly hired employees under its Amended and Restated Inducement Plan. The awards total options to purchase 7,300 shares and 1,975 RSUs, with an exercise price of $136.64 per share, equal to the July 31 Nasdaq closing price.

Options vest over four years (25% after one year, then monthly over three years), and RSUs vest in four equal annual installments. The compensation committee approved the grants as material inducements to employment in line with Nasdaq Rule 5635(c)(4). Protagonist highlights its peptide-based pipeline, including ICOTYDE, launched in the U.S. in March 2026 for plaque psoriasis and in Phase 3 for additional indications, and rusfertide, for which an NDA for polycythemia vera is under FDA priority review.

Positive

• ICOTYDE U.S. launch in March 2026 for plaque psoriasis
• ICOTYDE in Phase 3 trials for psoriatic arthritis, ulcerative colitis, Crohn's
• Rusfertide NDA for polycythemia vera under FDA priority review

Negative

• None.

News Explained

The awards are already granted, but Protagonist Therapeutics employees receive common-stock exposure in stages: 7,300 options can be exercised at $136.64, while 1,975 RSUs vest over four years, creating a path that can change existing holders’ ownership share rather than transferring all award shares immediately.

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NEWARK, CA / ACCESS Newswire / August 4, 2026 / Protagonist Therapeutics, Inc. (Nasdaq:PTGX) today reported that on July 31, 2026, it granted inducement awards to two recently hired employees in accordance with the terms of their employment offer letters. The awards were granted under the Protagonist Therapeutics Amended and Restated Inducement Plan, which was adopted May 29, 2018, and amended February 18, 2020 and February 15, 2022.

The new employees received, in the aggregate, options to purchase 7,300 shares of Protagonist Therapeutics common stock and restricted stock units (RSUs) to acquire 1,975 shares of Protagonist Therapeutics common stock. The exercise price of the options is $136.64, which is equal to the per-share closing price of Protagonist Therapeutics common stock on the Nasdaq Global Market on July 31, 2026. The shares subject to each option vest over a four-year period, with 25 percent of the shares subject to the option vesting on the first anniversary of each employee's date of hire and the remainder vesting in equal monthly installments over three years thereafter. One-fourth of the shares underlying the RSUs will vest annually over a four-year period. The awards were approved by the compensation committee of the Company's board of directors and were granted as a material inducement to each employee entering into employment with the Company in accordance with Nasdaq Marketplace Rule 5635(c)(4).

About Protagonist

Protagonist Therapeutics is a discovery-through-late-stage development biopharmaceutical company with a proprietary technology platform that enables de novo discovery of peptide therapeutics. Two novel peptides derived from Protagonist's proprietary discovery platform are at or near commercialization. ICOTYDE™ (icotrokinra), licensed to Johnson & Johnson company Janssen Biotech, Inc., is the first and only targeted oral peptide that precisely blocks the Interleukin-23 receptor. ICOTYDE was launched in the U.S. in March 2026, is approved for the treatment of moderate-to-severe plaque psoriasis in adults and pediatric patients 12 years of age or older and is in Phase 3 development for psoriatic arthritis, ulcerative colitis and Crohn's disease. ICOTYDE was jointly discovered by Protagonist and Johnson & Johnson scientists, with Protagonist having primary responsibility for the development of ICOTYDE through Phase 1, and Johnson & Johnson assuming responsibility for further development and commercialization. Protagonist also discovered and led development through Phase 3 of rusfertide, a first-in-class hepcidin mimetic peptide licensed to Takeda Pharmaceuticals. An NDA for rusfertide for the treatment of polycythemia vera is under priority review with the FDA. The Company also has a number of clinical and preclinical programs addressing clinically and commercially validated targets, including an oral IL-17 antagonist peptide, obesity dual and triple agonists, an oral hepcidin functional mimetic, and the recently announced IL-4 and amylin programs.

More information on Protagonist, its pipeline drug candidates, and clinical studies can be found on the Company's website at https://www.protagonist-inc.com.

Investor Relations Contact

Corey Davis, Ph.D.
LifeSci Advisors
cdavis@lifesciadvisors.com
+1 212 915 2577

Media Relations Contact

Virginia Amann
ENTENTE Network of Companies
virginiaamann@ententeinc.com
+1 833 500 0061 ext 1

View the original press release on ACCESS Newswire

SOURCE: Protagonist Therapeutics

View the original press release on ACCESS Newswire

FAQ

What inducement awards did Protagonist Therapeutics (PTGX) grant on July 31, 2026?

Protagonist Therapeutics granted stock options for 7,300 shares and 1,975 RSUs to two new employees. According to Protagonist Therapeutics, these were issued under its Inducement Plan as material inducements to employment in compliance with Nasdaq Rule 5635(c)(4).

What are the vesting terms of the new PTGX stock options and RSUs granted in July 2026?

The stock options vest over four years, with 25% after one year and the rest monthly over three years. According to Protagonist Therapeutics, RSUs vest annually in four equal installments over four years, aligning equity incentives with long-term employment.

At what price were the July 31, 2026 PTGX inducement stock options granted?

The inducement stock options were granted with an exercise price of $136.64 per share. According to Protagonist Therapeutics, this price equals the closing price of its common stock on the Nasdaq Global Market on July 31, 2026.

What is ICOTYDE and what stage is it in for Protagonist Therapeutics (PTGX)?

ICOTYDE is a targeted oral peptide blocking the Interleukin-23 receptor, licensed to Janssen Biotech. According to Protagonist Therapeutics, it launched in the U.S. in March 2026 for plaque psoriasis and is in Phase 3 for psoriatic arthritis, ulcerative colitis, and Crohn's disease.

What is the regulatory status of Protagonist Therapeutics' rusfertide program?

Rusfertide is a first-in-class hepcidin mimetic peptide licensed to Takeda for polycythemia vera. According to Protagonist Therapeutics, a New Drug Application for rusfertide is under priority review with the U.S. FDA for this indication.

Why did Protagonist Therapeutics use Nasdaq Rule 5635(c)(4) for these PTGX equity grants?

The company used Nasdaq Rule 5635(c)(4) because the awards were material inducements for new employees to join. According to Protagonist Therapeutics, the compensation committee approved these grants under its Inducement Plan to support recruitment objectives.