Who Optimizes SG&A Costs Better? Exelixis, Inc. or Protagonist Therapeutics, Inc.

Optimizing SG&A Costs: A Tale of Two Biotechs

In the competitive world of biotechnology, managing Selling, General, and Administrative (SG&A) expenses is crucial for financial health. From 2014 to 2023, Exelixis, Inc. and Protagonist Therapeutics, Inc. have shown contrasting approaches. Exelixis, Inc. has seen a staggering 967% increase in SG&A expenses, reflecting its aggressive expansion strategy. In contrast, Protagonist Therapeutics, Inc. has maintained a more conservative growth, with a 1,700% increase, albeit from a much smaller base. This divergence highlights the strategic choices companies make in scaling operations. While Exelixis's expenses peaked at over $540 million in 2023, Protagonist's expenses reached just over $33 million. This comparison underscores the importance of balancing growth with cost efficiency in the biotech sector. As investors and stakeholders evaluate these companies, understanding their SG&A strategies offers valuable insights into their operational priorities and future trajectories.