Do Protagonist Therapeutics’ (PTGX) Derisked Drugs Have Blockbuster Potential?

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The Strategy underperformed the Russell 2000 Growth Index in the fourth quarter, after a strong first three quarters of 2025. Market’s overreactions to earnings disappointments in the technology sector and a biotech rally drove the relative underperformance of the Strategy in the quarter. In a volatile year, dominated by a narrow set of themes, the small caps failed to outperform large caps, echoing the past two years, although broadening appears to be emerging. Heading to 2026, the Strategy is optimistic about the favorable backdrop for small-cap growth stocks following years of narrow market leadership and performance disparities. Please review the Strategy’s top five holdings to gain insights into their key selections for 2025.In its fourth-quarter 2025 investor letter, ClearBridge Small Cap Growth Strategy highlighted stocks like Protagonist Therapeutics, Inc. (NASDAQ:PTGX). Protagonist Therapeutics, Inc. (NASDAQ:PTGX) is a biopharmaceutical company that develops peptide-based treatments. On March 26, 2026, Protagonist Therapeutics, Inc. (NASDAQ:PTGX) closed at $102.17 per share. One-month return of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) was -2.76%, and its shares gained 2.83% over the past 52 weeks. Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has a market capitalization of $6.343 billion.ClearBridge Small Cap Growth Strategy stated the following regarding Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in its fourth quarter 2025 investor letter:"2025 was another active year for new idea generation, while we also endeavored to maintain our sell discipline in businesses where fundamentals have changed or idiosyncratic catalysts are lacking. With a gradual reopening of capital markets, along with dynamic trends across many end markets, we continue to find ample opportunities to identify high-quality investments across the spectrum of growth from compounders to hyper-growers.During the fourth quarter we initiated four new common stock investments: Protagonist Therapeutics, Inc. (NASDAQ:PTGX), Simpson Manufacturing Company, BETA Technologies, and Dyne Therapeutics.Protagonist Therapeutics is a biopharmaceutical company that currently has two internally discovered, clinically derisked drugs likely to launch with their partners in the near future, which we believe offer blockbuster potential — particularly an oral version of a well adopted injectable mechanism treating a range of immunology and inflammation conditions."Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoTrending tickersBTC-USD Bitcoin USD 65,721.52 -3,909.61 (-5.61%)U Unity Software Inc. 18.51 +1.38 (+8.06%)CRWD CrowdStrike Holdings, Inc. 366.91 -25.71 (-6.55%)PANW Palo Alto Networks, Inc. 145.75 -10.62 (-6.79%)CCL Carnival Corporation & plc 24.23 -1.05 (-4.15%)PortfolioSign in to access your portfolioSign inTop gainersAGX Argan, Inc. 545.46 +134.61 (+32.76%)ADV Advantage Solutions Inc. 25.88 +3.30 (+14.62%)ADMA ADMA Biologics, Inc. 9.50 +1.20 (+14.54%)KOD Kodiak Sciences Inc. 45.42 +5.66 (+14.25%)U Unity Software Inc. 18.48 +1.35 (+7.88%)Top losersFLY Firefly Aerospace Inc. 23.81 -3.00 (-11.18%)FIG Figma, Inc. 20.30 -1.85 (-8.35%)DDOG Datadog, Inc. 113.99 -10.32 (-8.30%)MARA MARA Holdings, Inc. 7.90 -0.68 (-7.98%)ENLT Enlight Renewable Energy Ltd 66.09 -5.85 (-8.13%)Most activeNVDA NVIDIA Corporation 168.08 -3.16 (-1.85%)EXAS Exact Sciences Corporation 104.91 0.00 (0.00%)GRAB Grab Holdings Limited 3.5850 -0.1250 (-3.37%)ONDS Ondas Inc. 8.91 -0.52 (-5.54%)U Unity Software Inc. 18.48 +1.35 (+7.88%)Top economic eventsEarnings eventsMy earnings eventsEarnings events