Protagonist Therapeutics Inc (PTGX)

Cash ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Cash and cash equivalents	US$ in thousands	97,249	131,121	355,643	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
Short-term investments	US$ in thousands	321,664	337,600	208,354	150,067	154,890	90,224	78,019	103,073	111,611	114,621	171,653	206,812	203,235	193,759	161,868	190,476	188,451	110,349	62,423	57,298
Total current liabilities	US$ in thousands	47,398	44,578	41,578	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
Cash ratio		8.84	10.51	13.56	8.08	16.06	11.51	11.87	9.93	7.61	7.28	7.28	7.03	7.43	8.03	8.24	7.92	7.60	5.03	5.90	3.23

December 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($97,249K + $321,664K) ÷ $47,398K
= 8.84

The cash ratio of Protagonist Therapeutics Inc has shown fluctuations over the period from March 31, 2020, to December 31, 2024. The cash ratio is a liquidity ratio that measures a company's ability to cover its short-term liabilities with its cash and cash equivalents.

Starting from 3.23 on March 31, 2020, the cash ratio increased to 16.06 by December 31, 2023, indicating a significant improvement in the company's ability to cover its short-term liabilities with its available cash. There was a notable increase in the cash ratio in the period from June 30, 2023, to December 31, 2023, demonstrating a strong liquidity position during that time.

However, the cash ratio declined after December 31, 2023, to 8.84 on December 31, 2024, reflecting a decrease in the company's cash reserves relative to its short-term liabilities. This decrease could be due to various factors such as increased operating expenses or investments in new projects that reduced the cash available for covering short-term obligations.

Overall, while the cash ratio of Protagonist Therapeutics Inc fluctuated over the years, it generally remained at a level that indicates the company's ability to meet its short-term financial obligations with its existing cash resources, although there was a slight decline towards the end of the period.