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Protagonist Therapeutics, Inc.

PTGX

Health Care

1

exclusion reason

1 theme

Animal Welfare (1)
PTGX Health Care Current as of April 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Testing & Research
Since Jan 3, 2022

Protagonist Therapeutics is a clinical-stage biotechnology company whose drug development pipeline relies on animal testing. The company’s lead investigational compound, rusfertide, progressed through preclinical studies that required animal models to assess safety and efficacy before human trials. This reliance on animal testing is standard for the pharmaceutical industry but constitutes commercial exploitation of animals as defined by the firm’s exclusion policy.

While specific details of Protagonist’s animal testing protocols are not disclosed in public filings, the company’s regulatory submissions and clinical trial authorizations implicitly confirm that animal data formed a foundational component of its development process. The FDA’s removal of a clinical hold on rusfertide studies in 2021 followed a review of data that included preclinical animal studies. As a company with no marketed products, its entire value proposition is built on a research and development model that necessitates animal experimentation.

Research Sources 1 organization
Cruelty Free Investors
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.