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Protagenic Therapeutics Inc. (NASDAQ: PTIX) is a biopharmaceutical company based in New York, focusing on the discovery and development of innovative treatments for stress-related neuropsychiatric and mood disorders. Utilizing peptide-based and brain-active therapeutics, the company aims to address critical health challenges such as anxiety, depression, PTSD, and neurodegenerative disorders.
Key to their portfolio is the lead compound, PT00114, a synthetic version of Teneurin Carboxy-terminal Associated Peptide (TCAP), a natural brain signaling peptide known for its potential to modulate stress responses. PT00114 operates with a novel mechanism, reducing cortisol levels and offering promising results in preclinical studies for anxiety, depression, PTSD, and addiction. The company has successfully completed the first dose escalation step in their Phase I clinical trial with PT00114, demonstrating excellent tolerability without adverse safety findings.
In recent developments, Protagenic Therapeutics regained compliance with Nasdaq's listing requirements by maintaining a closing bid price above $1.00 per share for ten consecutive trading days. They have also announced the completion of enrollment in the single dose portion of their Phase 1 trial for PT00114, marking a significant milestone with 30 subjects enrolled across five cohorts.
The company is actively progressing towards transformative therapies, with upcoming plans to discuss their latest financial results and future outlook in an investor earnings call. They are also fostering strategic collaborations, such as partnering with Axiom Real-Time Metrics to manage clinical trials, and participating in prominent industry events like the Peptide Based Therapeutic Summit.
For detailed information about the company's projects and corporate updates, please visit www.protagenic.com.
Protagenic Therapeutics (NASDAQ:PTIX) has closed a private placement raising $1.275 million in gross proceeds. The offering included 1,948,295 shares of common stock and two series of warrants. Each series includes 1,948,295 warrants with an exercise price of $0.64 per share. Series A warrants have an 18-month term, while Series B warrants extend for 5 years. The purchase price was set at $0.64 per share ($0.89 for insiders). The company plans to use the proceeds for working capital purposes. Brookline Capital Markets acted as the sole placement agent.
Protagenic Therapeutics (Nasdaq:PTIX) has announced a private placement offering to raise $1.275 million in gross proceeds. The company will issue 1,948,295 shares of common stock at $0.64 per share ($0.89 for insiders), along with series A and B warrants. The series A warrants have an 18-month term while series B warrants extend for 5 years, both with an exercise price of $0.64 per share. Brookline Capital Markets is serving as the sole placement agent. The offering is expected to close by November 4, 2024, with proceeds intended for working capital purposes.
Protagenic Therapeutics (NASDAQ: PTIX) announced promising safety results from the single dose portion of its Phase 1 trial for PT00114, a stress-regulating peptide. The trial involved 30 subjects across five cohorts who received doses up to 1,000 micrograms. No clinically-relevant adverse events were reported. PT00114 aims to address stress, a key factor in psychiatric disorders such as PTSD, depression, anxiety, addiction, and potentially obesity. The multiple dose portion of the trial will commence later this year. An investor call is scheduled for May 22, 2024, at 10:00 am ET to discuss these findings.
Protagenic Therapeutics, Inc. completes enrollment in the single dose portion of Phase 1 trial for PT00114, a synthetic stress-regulating peptide, showing outstanding tolerability. The trial aims to revolutionize treatment for neuropsychiatric disorders like anxiety, depression, PTSD, and addiction. Data from the safety trial phase are expected in May.
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