Protagonist Therapeutics Inc (PTGX)

Cash ratio

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cash and cash equivalents	US$ in thousands	172,568	186,727	230,527	235,382	127,686	125,744	152,816	120,237	98,477	123,665	120,542	192,412	83,000	117,358	83,625	146,242	60,215	33,006	50,195	71,143
Short-term investments	US$ in thousands	150,067	154,890	90,224	78,019	103,073	111,611	114,621	171,653	206,800	203,235	193,759	161,868	190,500	188,500	110,349	62,423	57,298	100,011	87,497	54,958
Total current liabilities	US$ in thousands	39,910	21,274	27,867	26,398	23,229	31,179	36,754	40,088	43,456	44,016	39,156	42,973	34,515	40,241	38,563	35,360	36,372	35,406	30,776	33,323
Cash ratio		8.08	16.06	11.51	11.87	9.93	7.61	7.28	7.28	7.02	7.43	8.03	8.24	7.92	7.60	5.03	5.90	3.23	3.76	4.47	3.78

March 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($172,568K + $150,067K) ÷ $39,910K
= 8.08

The cash ratio of Protagonist Therapeutics Inc has fluctuated over the past few quarters, ranging from a low of 3.23 to a high of 16.06. The cash ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher cash ratio indicates that the company has a larger proportion of cash relative to its current liabilities, which signifies a stronger liquidity position.

In the most recent quarter, the cash ratio stood at 8.08, indicating that the company had sufficient cash on hand to cover approximately 8 times its current liabilities. This suggests a strong liquidity position for Protagonist Therapeutics Inc, providing a buffer against potential short-term financial obligations.

It is important to monitor the trend of the cash ratio over time to assess the company's ability to meet its short-term obligations and manage liquidity effectively. Fluctuations in the cash ratio may reflect changes in the company's cash position, operating efficiency, or borrowing activities, and should be analyzed in conjunction with other financial ratios and performance indicators to gain a comprehensive understanding of Protagonist Therapeutics Inc's financial health.