Protagonist Therapeutics Inc. (NASDAQ: PTGX) saw its shares move up so much on May 30 that some investors probably just assumed this was a takeover or that the company had major news shaking the biotech industry. The real driver here was that Protagonist announced a key worldwide licensing and collaboration agreement with Janssen Biotech, a subsidiary of Johnson & Johnson (NYSE: JNJ). The agreement built upon a prior J&J venture funding from 2013.
