10 Best Cancer Stocks to Invest in for Long-Term Gains

4. Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Number of Hedge Fund Holders: 37

Total 5-Year Return: 457.44%

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) is a biopharmaceutical company developing innovative peptide-based therapies for cancers and inflammatory diseases. Its lead cancer candidate, Rusfertide, is a synthetic peptide mimicking hepcidin to regulate iron metabolism. Currently in Phase 3 trials for polycythemia vera (PV), it aims to better control hematocrit levels with fewer side effects than standard treatments like phlebotomy.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has secured an upfront payment of $300 million and milestone payments of up to $630 million through strategic collaborations, including a global deal with Takeda Pharmaceutical. The company and Johnson & Johnson also work together on JNJ-211, an oral IL-23 receptor antagonist.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s good financial situation is demonstrated by the fact that as of September 30, 2024, its cash, cash equivalents, and marketable securities reached $583.3 million, up from $341.6 million at the end of 2023 which is an encouraging sign for those tracking the best cancer stocks. Protagonist Therapeutics, Inc. (NASDAQ:PTGX) reported a net loss of $33.2 million in the third quarter of 2024, which was marginally better than the previous year’s quarterly loss. The company also reported $4.7 million in revenue from licenses and partnerships. However, a $300 million upfront payment from its agreement with Takeda Pharmaceutical in the first nine months of 2024 led to a $143.5 million net profit, which was a significant shift.

This partnership and Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s expanding pipeline point to strong growth potential. Important future benchmarks are top-line results for JNJ-2113 Phase 3 studies in psoriasis by Q4 2024 and Phase 2b outcomes in ulcerative colitis by Q1 2025. The results of Rusfertide Phase 3 in polycythemia vera and the nomination of a development candidate for an oral IL-17 peptide antagonist are also expected in early 2025.