Farallon group (PTGX) discloses 6.43M-share, warrant‑backed stake in Protagonist

Rhea-AI Filing Summary

Protagonist Therapeutics, Inc. has a significant shareholder group led by Farallon Capital Management, L.L.C., which reports beneficial ownership of 6,433,119 Shares of common stock. This position represents 9.99% of the company’s outstanding common stock.

The Farallon-managed funds collectively hold 6,348,906 Shares plus 1,500,000 Common Stock Purchase Warrants. Due to a 9.99% Beneficial Ownership Limitation in the warrant terms, only 84,213 Shares underlying the Warrants are currently counted toward beneficial ownership, with the remaining 1,415,787 Warrants treated as not exercisable within 60 days.

Key Figures

Beneficially owned Shares: 6,433,119 Shares Ownership percentage: 9.99% Shares held directly: 6,348,906 Shares +3 more

6 metrics

Beneficially owned Shares 6,433,119 Shares Shares of Protagonist Therapeutics common stock beneficially owned by the reporting persons

Ownership percentage 9.99% Percentage of Protagonist Therapeutics common stock class beneficially owned

Shares held directly 6,348,906 Shares Common Shares held by the Farallon funds before giving effect to Warrant exercises

Common Stock Purchase Warrants 1,500,000 Warrants Warrants held by the Farallon funds, each exercisable for one Share

Currently exercisable warrant shares 84,213 Shares Maximum Shares issuable on Warrant exercise under the 9.99% Beneficial Ownership Limitation

Non-counted Warrants 1,415,787 Warrants Warrants treated as not exercisable within 60 days for beneficial ownership purposes

Key Terms

Beneficial Ownership Limitation, Common Stock Purchase Warrants, beneficially own, investment manager, +1 more

5 terms

Beneficial Ownership Limitation regulatory

"The terms of the Warrants provide that Warrants may not be exercised to the extent that... more than 9.99%... (the "Beneficial Ownership Limitation")."

A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.

Common Stock Purchase Warrants financial

"1,500,000 Common Stock Purchase Warrants (the "Warrants"), each of which is exercisable..."

Common stock purchase warrants are tradable instruments that give the holder the right to buy a company’s common shares at a set price before a specified date, like a coupon that lets you purchase stock later at a fixed rate. They matter to investors because they offer a way to gain future upside if the stock rises, but when exercised they increase the number of shares outstanding and can reduce existing shareholders’ ownership and earnings per share.

beneficially own regulatory

"the Reporting Persons would beneficially own, as determined in accordance with Section 13(d)..."

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

investment manager financial

"Farallon Capital Management, L.L.C.... is the investment manager of certain investment partnerships..."

Schedule 13G regulatory

"Exhibit 1. Joint Acquisition Statement Pursuant to Section 240.13d-1(k)"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

What stake in Protagonist Therapeutics (PTGX) does Farallon report in this Schedule 13G/A?

Farallon and related reporting persons report beneficial ownership of 6,433,119 Shares of Protagonist Therapeutics common stock, representing 9.99% of the outstanding Shares. This includes currently exercisable warrant shares, subject to a contractual Beneficial Ownership Limitation.

How many Protagonist Therapeutics (PTGX) shares and warrants do the Farallon funds hold?

The Farallon funds hold 6,348,906 Shares of PTGX common stock and 1,500,000 Common Stock Purchase Warrants. Each warrant is exercisable for one Share, but exercise is constrained by a 9.99% Beneficial Ownership Limitation in the warrant terms.

What is the 9.99% Beneficial Ownership Limitation disclosed for PTGX?

The Warrants held by the Farallon funds contain a 9.99% Beneficial Ownership Limitation, preventing exercise if it would cause beneficial ownership to exceed 9.99% of outstanding Shares. This cap restricts how many warrant shares can be included in Farallon’s reported ownership.

How many PTGX warrant shares can Farallon currently count as beneficially owned?

Under the Beneficial Ownership Limitation, the Farallon funds may currently exercise Warrants for up to 84,213 Shares. The remaining 1,415,787 Warrants are treated as not exercisable within 60 days and are excluded from the reported beneficial ownership calculation.

Who are the reporting persons in the Protagonist Therapeutics (PTGX) Schedule 13G/A Amendment No. 9?

The filing is made by Farallon Capital Management, L.L.C. as investment manager and multiple Farallon investment funds, plus several managing and senior managing members, collectively called the Farallon Individual Reporting Persons, with respect to the Shares and Warrants held by the Farallon funds.

Which entities benefit economically from Farallon’s PTGX holdings?

The Farallon Funds have the right to receive dividends and sale proceeds from the PTGX securities beneficially owned by the reporting persons. These investment partnerships are managed by Farallon Capital Management, L.L.C. and collectively hold the Shares and Warrants described.

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Available on EDGAR 08/13/2026 - 05:19 PM Accepted by SEC EDGAR 08/13/2026 - 05:18 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)

Protagonist Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.00001 per share (the "Shares")

(Title of Class of Securities)

74366E102

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Capital Management, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Capital Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Capital Institutional Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Capital Institutional Partners II, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Capital Institutional Partners III, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Four Crossings Institutional Partners V, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Capital Offshore Investors II, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Capital (AM) Investors, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Capital F5 Master I, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Healthcare Partners Master, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Partners, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Institutional (GP) V, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon F5 (GP), L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Farallon Healthcare Partners (GP), L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Dapice Joshua J.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Dreyfuss, Philip D.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Dunn Hannah E.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Gehani, Varun N.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Giauque, Nicolas

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Husen, Avner A.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Kim, David T.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Linn, Michael G.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Luo Patrick (Cheng)

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Roberts, Jr., Thomas G.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Saito Edric C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Short Daniel S.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Spokes, Andrew J. M.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Warren, John R.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 74366E102

1

Names of Reporting Persons

Wehrly, Mark C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,433,119.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,433,119.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,433,119.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Protagonist Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 7707 Gateway Blvd., Suite 140 Newark, California 94560-1160
Item 2.
(a)	Name of person filing: This statement is filed by the entity and persons listed below, all of whom together are referred to herein as the "Reporting Persons." (i) Farallon Capital Management, L.L.C., a Delaware limited liability company (the "Investment Manager"), which is the investment manager of certain investment partnerships and vehicles, including the Farallon Funds (as defined in Item 4), with respect to the Shares held by the Farallon Funds and the Shares that the Farallon Funds currently have the right to acquire upon the exercise of Warrants (as defined in Item 4); and (ii) The following persons, each of whom is a managing member or senior managing member, as the case may be, of the Investment Manager, with respect to the Shares held by the Farallon Funds and the Shares that the Farallon Funds currently have the right to acquire upon the exercise of Warrants: Joshua J. Dapice ("Dapice"); Philip D. Dreyfuss ("Dreyfuss"); Hannah E. Dunn ("Dunn"); Varun N. Gehani ("Gehani"); Nicolas Giauque ("Giauque"); Avner A. Husen ("Husen"); David T. Kim ("Kim"); Michael G. Linn ("Linn"); Patrick (Cheng) Luo ("Luo"); Thomas G. Roberts, Jr. ("Roberts"); Edric C. Saito ("Saito"); Daniel S. Short ("Short"); Andrew J. M. Spokes ("Spokes"); John R. Warren ("Warren"); and Mark C. Wehrly ("Wehrly"). Dapice, Dreyfuss, Dunn, Gehani, Giauque, Husen, Kim, Linn, Luo, Roberts, Saito, Short, Spokes, Warren and Wehrly are together referred to herein as the "Farallon Individual Reporting Persons."
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the Reporting Persons is c/o Farallon Capital Management, L.L.C., One Maritime Plaza, Suite 2100, San Francisco, California 94111.
(c)	Citizenship: The jurisdiction of organization of the Investment Manager is set forth above. Each of the Farallon Individual Reporting Persons, other than Giauque, Luo and Spokes, is a citizen of the United States. Giauque is a citizen of France. Luo is a citizen of China. Spokes is a citizen of the United Kingdom.
(d)	Title of class of securities: Common Stock, par value $0.00001 per share (the "Shares")
(e)	CUSIP No.: 74366E102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. The securities reported hereby as beneficially owned by the Reporting Persons are held directly by the following investment partnerships, of which the Investment Manager is the investment manager: (i) Farallon Capital Partners, L.P., a California limited partnership ("FCP"); (ii) Farallon Capital Institutional Partners, L.P., a California limited partnership ("FCIP"); (iii) Farallon Capital Institutional Partners II, L.P., a California limited partnership ("FCIP II"); (iv) Farallon Capital Institutional Partners III, L.P., a Delaware limited partnership ("FCIP III"); (v) Four Crossings Institutional Partners V, L.P., a Delaware limited partnership ("FCIP V"); (vi) Farallon Capital Offshore Investors II, L.P., a Cayman Islands exempted limited partnership ("FCOI II"); (vii) Farallon Capital (AM) Investors, L.P., a Delaware limited partnership ("FCAMI"); (viii) Farallon Capital F5 Master I, L.P., a Cayman Islands exempted limited partnership ("F5MI"); and (ix) Farallon Healthcare Partners Master, L.P., a Cayman Islands exempted limited partnership ("FHPM"). FCP, FCIP, FCIP II, FCIP III, FCIP V, FCOI II, FCAMI, F5MI and FHPM are together referred to herein as the "Farallon Funds." As of the date requiring the filing of this statement, the Farallon Funds hold an aggregate of: (i) 6,348,906 Shares; and (ii) 1,500,000 Common Stock Purchase Warrants (the "Warrants"), each of which is exercisable, subject to the Beneficial Ownership Limitation (as defined below), to purchase one Share. The terms of the Warrants provide that Warrants may not be exercised to the extent that, after giving effect to such exercise, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, more than 9.99% of the Shares then issued and outstanding (the "Beneficial Ownership Limitation"). As of the date requiring the filing of this statement, the Beneficial Ownership Limitation permits the Farallon Funds to exercise Warrants for an aggregate of not more than 84,213 Shares. Accordingly, in providing the beneficial ownership information set forth herein, the Reporting Persons have assumed that the aggregate remaining 1,415,787 Warrants held by the Farallon Funds are not exercisable within 60 days of the date hereof and therefore do not confer beneficial ownership of the underlying Shares.
(b)	Percent of class: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
	(ii) Shared power to vote or to direct the vote: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Farallon Funds have the right to receive dividends from, and the proceeds from the sale of, the securities of the Issuer beneficially owned by the Reporting Persons.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Farallon Capital Management, L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member
Date:	08/13/2026

Farallon Capital Partners, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member of its General Partner
Date:	08/13/2026

Farallon Capital Institutional Partners, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member of its General Partner
Date:	08/13/2026

Farallon Capital Institutional Partners II, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member of its General Partner
Date:	08/13/2026

Farallon Capital Institutional Partners III, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member of its General Partner
Date:	08/13/2026

Four Crossings Institutional Partners V, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Manager of its General Partner
Date:	08/13/2026

Farallon Capital Offshore Investors II, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member of its General Partner
Date:	08/13/2026

Farallon Capital (AM) Investors, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member of its General Partner
Date:	08/13/2026

Farallon Capital F5 Master I, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Manager of its General Partner
Date:	08/13/2026

Farallon Healthcare Partners Master, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Manager of its General Partner
Date:	08/13/2026

Farallon Partners, L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member
Date:	08/13/2026

Farallon Institutional (GP) V, L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Manager
Date:	08/13/2026

Farallon F5 (GP), L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Manager
Date:	08/13/2026

Farallon Healthcare Partners (GP), L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Manager
Date:	08/13/2026

Dapice Joshua J.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Dreyfuss, Philip D.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Dunn Hannah E.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn
Date:	08/13/2026

Gehani, Varun N.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Giauque, Nicolas

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Husen, Avner A.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Kim, David T.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Linn, Michael G.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Luo Patrick (Cheng)

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Roberts, Jr., Thomas G.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Saito Edric C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Short Daniel S.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Spokes, Andrew J. M.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Warren, John R.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Wehrly, Mark C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	08/13/2026

Comments accompanying signature: Each of Farallon Partners, L.L.C., Farallon Institutional (GP) V, L.L.C., Farallon F5 (GP), L.L.C, and Farallon Healthcare Partners (GP), L.L.C. has executed this statement in Mill Valley, California, on behalf of itself and each fund for which it is the general partner.

Exhibit Information

Exhibit 1. Joint Acquisition Statement Pursuant to Section 240.13d-1(k)