Portage Biotech Inc. - PRTG STOCK NEWS

Portage Biotech Inc. enters clinical trial collaboration with Merck to evaluate its adenosine antagonists in combination with KEYTRUDA for solid tumors.

Portage Biotech Inc. reports financial results for Q2 2023, focusing on clinical programs PORT-2, PORT-6, and PORT-7. Positive highlights include favorable interim data for PORT-2 showing monotherapy activity and reduction of target lesions. The company is expanding its clinical footprint to 17 sites to accelerate patient accrual. The Phase 1 portion of the trial is expected to have final data in Q1 2024. The first patient was dosed in the Phase 1a trial for PORT-6. Operating expenses increased by $0.9 million, primarily due to clinical trial costs and manufacturing costs associated with adenosine assets acquired in the Tarus acquisition. R&D costs increased by 89% to $3.6 million, while G&A expenses decreased by 36% to $1.4 million. The company had cash and cash equivalents of $7.7 million as of June 30, 2023.

Portage Biotech Inc. (PRTG) accelerates clinical programs, presents positive interim data for iNKT engager PORT-2, and initiates Phase 1a trial of PORT-6. Company enters clinical collaboration with Merck and hosts KOL webinar. Financial results show net loss of $104.7 million for the fiscal year ended March 31, 2023.

Portage Biotech Inc. (NASDAQ: PRTG) has announced the acceptance of a poster presentation at the upcoming American Society of Clinical Oncology (ASCO) Annual Meeting, scheduled for June 2-6, 2023, in Chicago, IL. The poster will present updated data from the Phase 1/2 trial of its lead invariant natural killer T cell (iNKT) engager program, PORT-2 (IMM60), which is being evaluated alone and in combination with pembrolizumab for patients with advanced melanoma and metastatic non-small cell lung cancer (NSCLC).

The presentation is entitled 'IMPORT-201 (IMP-MEL): A Phase 1 First-in-Human Dose Finding/Randomized Phase 2 Study of a Novel iNKT Agonist IMM60 and Pembrolizumab.' It is set for June 3, 2023, from 8:00-11:00 a.m. CDT with abstract number 2575. Portage aims to leverage innovative trial designs to identify patient populations most likely to benefit from their therapies.

Biohaven Ltd. (NYSE: BHVN) has made significant strides in its clinical development, launching a pivotal Phase 3 study for its myostatin-targeting agent for spinal muscular atrophy. The company initiated a Phase 1 clinical trial for a new TYK2/JAK1 inhibitor, BHV-8000, and reported promising Phase 1 safety data for BHV-7000, which targets epilepsy and mood disorders. The 2022 financial results showed a net loss of $570.3 million, driven by increased R&D expenses. With $465 million in cash, Biohaven is well-positioned for future growth, anticipating major milestones in 2023, including multiple IND submissions and further advancements in their extensive neuroscience pipeline.

Biohaven (NYSE: BHVN) announced the acquisition of global rights, excluding China, for BHV-8000, a novel dual inhibitor targeting TYK2 and JAK1 to treat brain disorders. This first-in-class agent is expected to advance into Phase 1 clinical development in 2023. The agreement with Hangzhou Highlightll Pharmaceutical includes an upfront payment of $10 million in cash and $10 million in Biohaven equity, plus potential milestone payments amounting to up to $950 million. The unique mechanism of BHV-8000 aims to modulate neuroinflammation linked to neurodegenerative disorders, positioning Biohaven for significant advancements in the neurology market.