Portage Biotech Inc. - PRTG STOCK NEWS

Biohaven Pharmaceutical (NYSE: BHVN) and Vigeo Therapeutics announced their entry into the GBM AGILE trial, an adaptive platform study for glioblastoma treatments. This trial, which began in July 2019, aims to rapidly identify effective interventions for patients suffering from this aggressive brain cancer. Troriluzole and VT1021 will be tested in newly diagnosed and recurrent glioblastoma patients, with enrollment starting at Henry Ford Health in Detroit, expanding across over 40 sites in the US and globally. Overall, the trial seeks to optimize treatment outcomes through simultaneous testing of multiple therapies.

Portage Biotech Inc. (NASDAQ: PRTG) shared preliminary data from its Phase 1/2 trial of PORT-2, an iNKT agonist for treating melanoma and NSCLC, at the 2022 ASCO meeting. The results indicate a favorable safety profile and tolerability as a monotherapy, with evidence of single-agent activity in heavily pre-treated patients. The company plans to evaluate PORT-2 further, both as a standalone treatment and in combination with pembrolizumab. In addition, ongoing collaborations with Intensity Therapeutics have shown promising results in various cancer trials, including neoadjuvant breast cancer.

Pfizer has announced its acquisition of Biohaven, the maker of NURTEC® ODT, for approximately $11.6 billion. Shareholders will receive $148.50 per share in cash and shares in a new company retaining Biohaven's non-CGRP assets. The acquisition enhances Pfizer's Internal Medicine pipeline, focusing on migraine treatments with high market potential. NURTEC is already the leading migraine therapy in the U.S. The deal includes the purchase of Biohaven's CGRP programs and is expected to close by early 2023, pending approvals.

Pfizer (NYSE: PFE) and Biohaven (NYSE: BHVN) announced the European Commission's marketing authorization for VYDURA® (rimegepant), the first medication approved for both acute and prophylactic treatment of migraines in adults. VYDURA® is an orally disintegrating tablet that targets a significant unmet need for migraine treatment in the EU, affecting around one in ten people. Clinical studies demonstrate its efficacy in reducing migraine symptoms and the frequency of attacks. The approval covers all 27 EU countries, with local reimbursement to follow.

Portage Biotech Inc. (NASDAQ: PRTG) announced a Cooperative Research and Development Agreement with the National Cancer Institute (NCI) and Stimunity, S.A.S to enhance cancer vaccine efficacy. The collaboration aims to develop STING agonists and anti-RAGE agents, leveraging the NCI’s resources for preclinical and potential clinical advancement. The STING pathway enables targeted immune response, while anti-RAGE agents may counteract immune suppression in cancer progression. Portage's innovative approach uses systemic delivery mechanisms to enhance vaccine effectiveness, with multiple clinical readouts expected in the next 12-24 months.

Portage Biotech Inc. (NASDAQ: PRTG) recently presented late-breaking preclinical data at the AACR 2022 Annual Meeting, highlighting the potential of PORT-5 (STI-001), a stimulator of interferon genes (STING) agonist. Data shows that this therapy, delivered via a virus-like particle, activates tumor-specific T cells and preferentially targets dendritic cells, enhancing anti-tumor responses. The study suggests that PORT-5 can be combined with other immunotherapies for improved efficacy against cancer, marking a significant advancement in the development of STING-based therapies.

Portage Biotech Inc. (NASDAQ: PRTG) announced positive preliminary safety data for its lead iNKT agonists, PORT-2 and PORT-3. Both candidates were well tolerated, paving the way for further clinical development. The company aims to generate pivotal safety and efficacy data through 2022, focusing on expanding clinical trials internationally and enhancing partnerships with academic institutions. The strategic goal is to accelerate progress in their immuno-oncology pipeline, with key clinical readouts expected by the end of 2023. Portage remains optimistic despite COVID-19 challenges.

Portage Biotech Inc. (NASDAQ: PRTG) announced that preclinical data regarding its STING-activating therapy, PORT-5 (STI-001), will be presented at the AACR 2022 Annual Meeting in New Orleans from April 8-13, 2022. The therapy aims to enhance anti-tumor responses and overcome challenges in clinical delivery of STING therapies. CEO Dr. Ian Walters expressed gratitude for the research's inclusion in a late-breaking session, indicating its significance in advancing cancer treatment. Portage collaborates with Stimunity and the Institut Curie for this development.

Portage Biotech Inc. (NASDAQ: PRTG) announced its financial results for Q3 FY 2022, reporting a net loss of approximately $4.2 million, up from $1.3 million in the same period last year. Operating expenses rose to about $4.2 million, primarily driven by increased R&D and G&A costs. The company emphasizes plans to accelerate clinical programs PORT-2 and PORT-3, expanding clinical sites and improving patient enrollment. As of December 31, 2021, Portage had $25.6 million in cash, positioning it to achieve key clinical milestones in the next two years.