Portage Biotech Inc. - PRTG STOCK NEWS

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.

Biohaven Ltd. (NYSE: BHVN) presented data on its novel compound BHV-7000 at the ASENT 2023 Annual Meeting, focusing on its efficacy and safety in treating epilepsy. BHV-7000, a Kv7.2/7.3 potassium channel activator, shows potent anti-seizure capabilities without negatively impacting neurobehavior. The Phase 1 trial indicated good tolerability at doses up to 100 mg, with no severe adverse events observed. Leading researchers emphasized the potential for BHV-7000 to deliver efficacy without common CNS-related side effects seen in existing anti-seizure medications, marking a significant advancement in epilepsy treatment.

Portage Biotech Inc. (NASDAQ: PRTG) announced its participation in Oppenheimer's 33rd Annual Healthcare Conference from March 13-15, 2023. The management team is scheduled to present on March 14, 2023, from 2:00-2:30 PM ET. Interested investors can watch the presentation via a live webcast at this link. Additionally, one-on-one investor meetings will be held during the event. A replay of the presentation will be available on the company's Investor Relations website following the event.

Portage specializes in innovative immuno-oncology therapies, focusing on small molecule engagers and adenosine antagonists.

Portage Biotech Inc. (NASDAQ: PRTG) announced its financial results for Q4 FY22, reporting a net loss of approximately $7.5 million, up from $4.2 million in Q4 FY21. Operating expenses rose to $4.8 million, driven by a 32% increase in R&D costs to $2.5 million, primarily for clinical trials. The company is advancing its IMPORT-201 trial of PORT-2 in melanoma and non-small cell lung cancer, with a collaboration with Merck to evaluate PORT-2 with KEYTRUDA®. The Phase 1 portion of the ADPORT-601 trial is set to begin by the end of Q2 2023, and a Key Opinion Leader event will occur on March 9 to discuss the adenosine pathway in cancer.

Portage Biotech Inc. (NASDAQ: PRTG) will host a webinar on March 9, 2023, focusing on targeting the adenosine pathway in cancer treatment. The company aims to enhance immune responses through its adenosine 2A and 2B inhibitors while discussing insights from leading oncologists, Lawrence Fong and Sumit Subudhi. The event will highlight the challenges of cancer immune evasion related to adenosine and showcase Portage's innovative multi-targeted therapies. Attendees can register for the event, which includes a question and answer session, offering insights into the company's strategy and candidate progress.

Biohaven has announced that its investigational drug, taldefgrobep alfa, for treating Spinal Muscular Atrophy (SMA), has received Fast Track designation from the U.S. FDA, enhancing its potential for expedited review and approval. This follows the drug's previous acquisition of Orphan Drug Designation. Taldefgrobep aims to increase muscle mass by inhibiting the activity of myostatin, a protein that limits muscle growth. A Phase 3 clinical trial, named RESILIENT, is currently underway. SMA is a rare and progressive neurodegenerative disease affecting approximately 1 in 11,000 newborns in the U.S., highlighting an urgent need for effective treatments.

Portage Biotech Inc. (NASDAQ: PRTG) announced participation in Citi's 2023 Virtual Oncology Leadership Summit scheduled for February 22, 2023, at 9:00 AM ET. The management team will engage in a fireside chat, which will be accessible via a webcast here. A replay will be available approximately 12 hours post-event and will be hosted on the investor section of the Portage Biotech website for one year. Portage is a clinical-stage immuno-oncology company focusing on multi-targeted cancer therapies, including first-in-class invariant natural killer T cell small molecule engagers and adenosine antagonists.

Pfizer reported record revenues of $100.3 billion for full-year 2022, up 23% year-over-year, driven by operational growth of 30%. Fourth-quarter revenues reached $24.3 billion, marking 2% growth. Reported diluted EPS for 2022 was $5.47, up 42%, while adjusted diluted EPS rose 62% to $6.58. For 2023, Pfizer anticipates revenues of $67.0 to $71.0 billion, primarily due to a decline in COVID-19 product sales. However, excluding these products, operational growth of 7% to 9% is expected. The company aims to invest significantly in launches and R&D to drive long-term growth, including anticipated launches of new products.