MIMRYLO Approval Triggered $275M Payments for Protagonist (PTGX). Are Royalties the Better Commercial Model?
The U.S. Food and Drug Administration's approval of MIMRYLO, a treatment for erythrocytosis in adults with polycythemia vera, has led to $275 million in payments to Protagonist Therapeutics, Inc. (NASDAQ:PTGX). This sum includes a $200 million opt-out fee and a $75 million approval milestone. Protagonist Therapeutics, Inc. (NASDAQ:PTGX) decided to opt for royalties instead of the original 50:50 profit-and-loss arrangement with Takeda Pharmaceutical Company Limited (NYSE:TAK).
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