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ANI Pharmaceuticals vs Protagonist Therapeutics: ANIP and PTGX compared
ANI Pharmaceuticals is the larger company: $291M of revenue in its latest quarter (Q3 2026) against $274M for Protagonist Therapeutics (Q3 2026). Protagonist Therapeutics is growing faster (58× against +28% a year earlier). Protagonist Therapeutics is more profitable, with an operating margin of 79.6% against 18.0%.
Where the money goes: ANIP and PTGX
ANI Pharmaceuticals (ANIP) · Q3 2026
ANI Pharmaceuticals, Q3 2026: revenue $291M (+28% year over year), operating margin 18.0%, net earnings $35.1M, operating cash flow $83.8M. The chart follows the revenue to costs, profit and cash.
Protagonist Therapeutics (PTGX) · Q3 2026
Protagonist Therapeutics, Q3 2026: revenue $274M (58× year over year), operating margin 79.6%, net earnings $220M, operating cash flow −$23.2M. The chart follows the revenue to costs, profit and cash.
| ANI Pharmaceuticals (ANIP) | Protagonist Therapeutics (PTGX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $291M | $274M |
| Revenue growth, Y/Y | +28% | 58× |
| Operating margin | 18.0% | 79.6% |
| Net earnings | $35.1M | $220M |
| Net margin | 12.1% | 80.2% |
| Operating cash flow | $83.8M | −$23.2M |
| Free cash flow | $70.3M | — |
| Market value | $1.5B | — |
| P/E | 13.7× | — |
| Analysts’ mean target | $105.78 | — |
Where the revenue comes from
ANI Pharmaceuticals
- Rare Disease and Brands total net revenues: $182M (63%)
- Generics and Other total net revenues: $108M (37%)
Questions
Which is bigger, ANI Pharmaceuticals or Protagonist Therapeutics?
ANI Pharmaceuticals is the larger company: $291M of revenue in its latest quarter (Q3 2026) against $274M for Protagonist Therapeutics (Q3 2026).
Is ANI Pharmaceuticals or Protagonist Therapeutics growing faster?
Protagonist Therapeutics is growing faster (58× against +28% a year earlier).
Which is more profitable, ANI Pharmaceuticals or Protagonist Therapeutics?
Protagonist Therapeutics is more profitable, with an operating margin of 79.6% against 18.0%.
More: ANI Pharmaceuticals earnings · how ANI Pharmaceuticals makes money · Protagonist Therapeutics earnings · how Protagonist Therapeutics makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.