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.
Portage Biotech Inc. (NASDAQ: PRTG) announced significant leadership changes, appointing Brian Wiley as Chief Business Officer and Joseph Ciavarella as Chief Accounting Officer. Wiley's extensive oncology experience includes leadership roles in several pharmaceutical companies, while Ciavarella brings a strong financial background. Additionally, Jim Mellon, Linda Kozick, and Mark Simon have joined the Board of Directors. The company anticipates reporting initial safety data for its iNKT agonist programs, PORT-2 and PORT-3, by the end of Q1 2022, marking a critical year ahead for its clinical pipeline.
Global Coalition for Adaptive Research announced the GBM AGILE trial has screened over 1000 patients, achieving enrollment rates 3 to 4 times higher than traditional studies. Biohaven’s troriluzole and Vigeo’s VT1021 will join the trial, assessing multiple therapies for glioblastoma. The trial's expansion includes sites in Europe and China, with IND approval received for Kazia’s paxalisib. The adaptive design aims for quicker identification of effective treatments and supports rapid drug development.
Portage Biotech Inc. (NASDAQ: PRTG) announced its participation in three investor conferences in January 2022, focusing on immuno-oncology therapies. CEO Dr. Ian Walters will join panel discussions at the LifeSci Partners Corporate Access Event and H.C. Wainwright BioConnect Conference, along with a fireside chat at the B. Riley Securities’ Oncology Investor Conference. The company, engaged in developing first-in-class cancer therapies, currently has 10 products in development with clinical readouts expected in the next 12-24 months.
Portage Biotech announced its Q2 FY 2022 financial results, reporting a net loss of approximately $2.9 million, up from $2.7 million in the same period last year. Operating expenses surged to $3.4 million, driven by $2.1 million in non-cash share-based compensation. The company highlighted progress in clinical trials for iNKT agonists PORT-2 and PORT-3, with initial patient dosing in the IMP-MEL study. As of September 30, 2021, Portage had $27.3 million in cash. Despite a net income tax benefit of $0.5 million, R&D costs increased to $1.4 million from $0.8 million year-over-year.
Portage Biotech Inc. (NASDAQ: PRTG) announced that CEO Dr. Ian Walters will participate in the Piper Sandler 33rd Annual Virtual Healthcare Conference from November 29 to December 2, 2021. During this event, Dr. Walters will discuss the company’s pipeline and current programs, notably its lead invariant natural killer T cell (iNKT) agonists, PORT-2 and PORT-3. A pre-recorded presentation is available online. Management will also host 1x1 meetings on November 30 and December 1.
Portage Biotech (NASDAQ: PRTG) presented promising data on INT230-6 (PORT-1) at the SITC and CTOS Annual Meetings. The Phase 2 IT-01 clinical trial indicates that INT230-6 is safe and shows direct tumor-killing effects as both a monotherapy and in combination with checkpoint inhibitors. Notably, patients receiving INT230-6 exhibited significantly longer survival rates compared to historical data. The therapy targets advanced soft tissue sarcomas and is anticipated to enter a randomized Phase 3 study in 2022, highlighting its potential to improve patient outcomes in metastatic cancers.
Portage Biotech Inc. (PRTG) announced a KOL webinar on November 18, 2021, to discuss iNKT cells in cancer treatment. Experts Dr. Mitchell Kronenberg and Dr. Anastasios Karadimitris will present on iNKT mechanisms and current clinical data. CEO Ian B. Walters will outline Portage's clinical strategy regarding its iNKT agonists, PORT-2 and PORT-3, aiming to enhance treatment responses for PD-L1 negative tumors. The event will include a live Q&A session. This initiative highlights Portage's commitment to advancing immuno-oncology therapies.
Portage Biotech Inc. (NASDAQ: PRTG) announces participation in investor conferences in September 2021, enhancing investor outreach. Management will present at three notable events: the H.C. Wainwright 23rd Annual Global Investor Conference on September 13, the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 21, and the 2021 Cantor Virtual Global Healthcare Conference on September 29. Recordings of the Oppenheimer and Cantor presentations will be archived on Portage's website. The company focuses on immuno-oncology therapies targeting cancer treatment resistance.
Portage Biotech (NASDAQ: PRTG) reported raising $29 million to expedite its clinical pipeline focused on cancer treatment innovation. The funding enables advancement of Phase 1 and Phase 2 trials for lead iNKT agonists PORT-2 and PORT-3. Despite a net loss of $3.2 million for the quarter ending June 30, 2021, up from $0.7 million the prior year, the company’s cash balance was approximately $28.6 million. The company plans to present its advancements at several upcoming conferences, further enhancing its visibility in the immuno-oncology sector.
Portage Biotech Inc. (NASDAQ: PRTG) provided a corporate update reflecting significant advancements in its immuno-oncology pipeline. The company has successfully transitioned three assets into clinical trials, raising over $29 million since March 31, 2021, including a $26.5 million public offering. Portage aims to leverage novel iNKT agonists for treating cancer, with two lead assets, PORT-2 and PORT-3, currently in clinical trials. The company anticipates multiple data readouts in the upcoming 12-24 months, supported by enhanced investor relations and strategic partnerships.
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