Portage Biotech Inc. - PRTG STOCK NEWS

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.

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.