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Portage Biotech Inc. - PRTG STOCK NEWS

Welcome to our dedicated page for Portage Biotech news (Ticker: PRTG), a resource for investors and traders seeking the latest updates and insights on Portage Biotech stock.

Portage Biotech Inc. (NASDAQ: PRTG) is a leading clinical-stage immuno-oncology company based in Canada. The company is dedicated to developing innovative therapies aimed at overcoming immune resistance in cancer patients. With a strong focus on unmet clinical needs, Portage Biotech is managing an impressive pipeline of 10 immuno-oncology assets at various stages of development.

Portage Biotech's key products include IMM-60, an invariant natural killer T cell (iNKT) engager, and PORT-6 and PORT-7, which are adenosine 2A (A2A) and adenosine 2B (A2B) inhibitors, respectively. These assets are being developed for various cancers, including non-small cell lung cancer (NSCLC) and advanced melanoma.

Notably, the company recently presented updates from its ongoing IMPORT-201 Phase 1/2 trial of PORT-2 (IMM-60) and its ADPORT-601 adaptive Phase 1a/1b trial for PORT-6 and PORT-7 at the Society for Immunotherapy of Cancer's (SITC) Annual Meeting. The data shows promising results in safety and tolerability, as well as potential efficacy in combination therapies with Merck’s anti-PD-1 therapy, KEYTRUDA® (pembrolizumab).

Portage Biotech's unique business model leverages strong partnerships with academic experts and large pharmaceutical companies to rapidly advance multiple products efficiently. The company's commitment to patient-centric approaches and innovative trial designs aims to identify and target patient populations most likely to benefit from treatment. Despite challenges, including the decision to pause further drug development in the PORT-2 iNKT program due to funding constraints, Portage Biotech is focused on advancing its adenosine platform and continuing impactful clinical trials.

For the latest updates, financial results, and to learn more about ongoing and future projects, visit their official website.

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Portage Biotech Inc. (NASDAQ: PRTG) announced its financial results for the quarter ending September 30, 2022, reporting a net loss of approximately $1.1 million, significantly down from $2.9 million during the same period in 2021. The company continues to progress with its lead iNKT agonist, PORT-2, showing a favorable safety profile. A new clinical collaboration with Merck aims to evaluate PORT-2 alongside KEYTRUDA for NSCLC treatment. Operational costs rose slightly due to increased clinical trial expenditures and staff-related expenses.

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Wilson Sonsini Goodrich & Rosati announces Jon Soderstrom as the new Chief Licensing Advisor (East) in its New York office. Previously managing director at Yale University's Office of Cooperative Research, Soderstrom played a significant role in developing technology transfer initiatives and raising over $1 billion for more than 45 new ventures. His expertise in technology and pharmaceuticals is expected to enhance the firm's client relationships and contributions to the entrepreneurial community on the East Coast.

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Portage Biotech Inc. (NASDAQ: PRTG) announced updates on its Phase 1/2 study of PORT-2, an iNKT agonist for refractory non-small cell lung cancer and melanoma, at the SITC 2022 conference. The data indicates a favorable safety profile and early efficacy signals for PORT-2, particularly at the 3 mg/m² dose. The study, expanding in the U.S. and EU, explores PORT-2 as both a monotherapy and in combination with Merck’s KEYTRUDA. Encouraging findings include increased PD-L1 expression and CD86+ B cells, suggesting potential synergy with current treatments. Further updates are anticipated as the trial progresses.

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Portage Biotech Inc. has partnered with Merck to evaluate PORT-2, an iNKT agonist, in combination with KEYTRUDA for treating non-small cell lung cancer (NSCLC). The study, part of the IMPORT-201 trial, will assess its effectiveness in both front-line and PD-1 resistant patients. Preliminary data indicates that PORT-2 enhances PD-L1 expression and has shown promise as a monotherapy. This collaboration aims to expand potential treatment options for NSCLC patients while leveraging KEYTRUDA's established efficacy in immunotherapy.

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Pfizer Inc. reported its third-quarter 2022 results, with revenues of $22.6 billion, a 6% decline compared to the previous year. Excluding contributions from Paxlovid and Comirnaty, the revenue showed a 2% operational growth. Reported diluted EPS increased by 6% to $1.51, and adjusted diluted EPS rose 40% to $1.78. The company raised its 2022 revenue guidance to $99.5-$102 billion and narrowed its adjusted diluted EPS guidance to $6.40-$6.50. Pfizer's pipeline includes promising candidates with positive Phase 3 data, and it plans to launch up to 19 new products within 18 months.

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Pfizer has completed its acquisition of Biohaven Pharmaceutical for $11.6 billion, paying $148.50 per share. This acquisition adds the innovative migraine therapy NURTEC® ODT and a portfolio of CGRP receptor antagonists, including rimegepant and zavegepant, to Pfizer's pipeline. These drugs aim to serve over 1 billion migraine patients globally. The merger enhances Pfizer's Internal Medicine portfolio with strong growth potential through 2030 and beyond. Biohaven became a wholly-owned subsidiary, while Biohaven Ltd. retained non-CGRP assets and will continue trading under the ticker BHVN.

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Portage Biotech Inc. (PRTG) has outlined its strategic focus on advancing its clinical development programs, specifically targeting immuno-oncology therapies through its iNKT and adenosine platforms. Major goals include converting the PORT-2 study into a company-sponsored trial and launching new studies in the U.S. Clinical trials are set to provide efficacy readouts in multiple tumor types over the next two years. Despite challenges, the company anticipates key data releases through 2024, aiming to expand its pipeline and enhance treatments for cancers.

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Portage Biotech Inc. (NASDAQ: PRTG), a clinical-stage immuno-oncology company, has announced its participation in two upcoming investor conferences.

They will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 13, 2022, at 9:30 am ET and at Cantor Fitzgerald’s Oncology, Hematology, & HemeOnc Conference on September 28, 2022, at 1:45 pm ET. The management will also hold one-on-one meetings with investors at these events, emphasizing their commitment to improving treatment options and survival rates for patients with cancer.

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Portage Biotech (PRTG) reported its financial results for Q2 2022, highlighting significant advancements in its clinical pipeline, including five small molecule immuno-oncology assets. The company extended its cash runway potentially into 2024 following a $30 million share purchase agreement with Lincoln Park Capital Fund. Financially, PRTG reduced its net loss from $3.2 million in Q2 2021 to $1.6 million in Q2 2022 while increasing operating expenses to $4.1 million. Key collaborations with research institutions and promising early data from clinical studies underscore PRTG's growth potential.

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Portage Biotech Inc. (NASDAQ: PRTG) has announced leadership changes to strengthen its board. CEO Dr. Ian Walters will additionally serve as Chairman of the Board, while current Chairman Dr. Greg Bailey transitions to lead Director. The company also appointed Justin Fairchild, MPH, as Vice President of Development, enhancing its clinical immunotherapy expertise. These decisions reflect the board's confidence in Walters' leadership amid challenging market conditions as Portage prepares for multiple data readouts over the next year, including ongoing Phase 1/2 studies of innovative treatments.

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FAQ

What is the current stock price of Portage Biotech (PRTG)?

The current stock price of Portage Biotech (PRTG) is $5.19 as of December 24, 2024.

What is the market cap of Portage Biotech (PRTG)?

The market cap of Portage Biotech (PRTG) is approximately 5.8M.

What does Portage Biotech Inc. specialize in?

Portage Biotech Inc. specializes in developing immuno-oncology therapies to overcome immune resistance in cancer patients.

What are the key products in Portage Biotech's pipeline?

Key products include IMM-60 (iNKT engager), PORT-6 (A2A inhibitor), and PORT-7 (A2B inhibitor).

Where is Portage Biotech Inc. based?

Portage Biotech Inc. is based in Canada.

What recent clinical trials has Portage Biotech presented data from?

Portage Biotech presented data from the IMPORT-201 Phase 1/2 trial of PORT-2 and the ADPORT-601 adaptive Phase 1a/1b trial for PORT-6 and PORT-7.

What is the focus of the ADPORT-601 trial?

The ADPORT-601 trial focuses on evaluating adenosine 2A and 2B inhibitors in combination with other immunotherapies for solid tumors.

What partnerships does Portage Biotech leverage?

Portage Biotech leverages partnerships with academic experts and large pharmaceutical companies like Merck.

What decision did Portage Biotech make regarding the PORT-2 iNKT program?

Portage Biotech decided to pause further development in the PORT-2 iNKT program due to funding constraints.

What is the significance of Portage Biotech's business model?

Portage Biotech's business model enables rapid advancement of multiple products through strong academic and pharmaceutical partnerships.

How does Portage Biotech aim to improve patient outcomes?

By developing multi-targeted therapies and identifying patient populations most likely to benefit from their treatments.

Where can more information about Portage Biotech be found?

More information can be found on their official website at www.portagebiotech.com.

Portage Biotech Inc.

Nasdaq:PRTG

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