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Protagenic Therapeutics, Inc. (Nasdaq: PTIX) reported its Q3 2021 results, highlighting significant advancements in developing PT00114 for stress-related neurological disorders. The company hosted a virtual science review and KOL webinar, discussing PT00114's potential for treating depression, anxiety, PTSD, and addiction. Financially, net loss decreased to approximately $0.9 million from $1.0 million year-over-year, with R&D expenses also down at $0.3 million. The company holds $10.8 million in cash and plans to refile its IND application in Q4 2021, with a Phase I/IIa study set for Q1 2022.
Protagenic Therapeutics (Nasdaq: PTIX) announces a scientific webinar on September 8, 2021, focused on its neuro-active peptide PT00114, intended for treating Depression, Anxiety, PTSD, and Addiction. The session will feature presentations by key figures including David Lovejoy and Andrew Slee, discussing PT00114's discovery, evidence from disease models, and its role in addiction therapy. The event, lasting from 10:00 AM to 11:00 AM ET, will conclude with a Q&A. Registration is available on Protagenic's website.
Protagenic Therapeutics (PTIX) reported a net loss of approximately $1.5 million for Q2 2021, up from $0.6 million in Q2 2020. Operating and administrative expenses rose significantly, with general and administrative costs reaching about $1.2 million, compared to $0.4 million the prior year. The company closed a $13.2 million public offering and plans to refile its IND application for PT00114 in Q4 2021, with a Phase I/IIa study set to initiate in Q1 2022. As of June 30, 2021, PTIX had $11.9 million in cash and approximately 16.6 million shares outstanding.
Protagenic Therapeutics (Nasdaq: PTIX) announced that the FDA has requested the company to provide clinical sites with ready-to-inject vials instead of drug substances for local formulation. This change allows Protagenic to maintain control over the final drug product formulation. The company plans to comply with this directive and refile its Investigational New Drug (IND) application to initiate patient enrollment in Q4 2021. The company focuses on developing therapies for stress-related neurologic disorders.
Protagenic Therapeutics (Nasdaq: PTIX) will host a webinar on July 13, 2021, at 10:00 AM ET, to discuss PT00114, a potential treatment for stress-related disorders such as Depression, PTSD, Anxiety, and Addiction. The webinar features Dr. Maurizio Fava, a leading psychiatrist and principal investigator for the upcoming Phase 1/2a trial. He will provide insights into the clinical development of PT00114, a peptide aimed at regulating stress response in the brain. Interested participants can contact James Carbonara at Hayden IR for registration details.
Protagenic Therapeutics, Inc. (NASDAQ: PTIX) is set to present at the H.C. Wainwright Psychedelics in Psychiatry and Beyond Virtual Conference on June 17, 2021, at 8:30 AM ET. The company focuses on developing drug candidates aimed at treating stress-related neurologic disorders. Interested parties can access the presentation through the provided link. For further inquiries or to schedule one-on-one meetings, contact conference representatives or management.
Protagenic is exploring first-in-class neuro-active peptides for therapeutic applications.
Protagenic Therapeutics, Inc. (NASDAQ:PTIX) has successfully closed an underwritten public offering of 3,180,000 units at $4.15 per unit, generating gross proceeds of approximately $13.2 million. Each unit consists of one share of common stock and a warrant for one additional share at $4.98, expiring in five years. There is also a 45-day option for underwriters to purchase up to 477,000 additional units. The offering began trading on the Nasdaq on April 27, 2021, under symbols "PTIX" and "PTIXW".
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