Portage Biotech Inc - PRTG STOCK NEWS

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.

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.