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 (PRTG) is a clinical-stage biopharmaceutical company advancing novel immuno-oncology therapies through strategic research and development. This news hub provides investors and industry observers with timely updates on clinical milestones, partnership announcements, and corporate developments essential for understanding the company's progress in addressing unmet medical needs.
Our curated collection offers comprehensive access to official press releases and verified news coverage related to PRTG's therapeutic pipeline, including combination therapies targeting immune resistance. Users will find updates on clinical proof-of-concept studies, regulatory developments, and strategic collaborations that shape the company's position in the biotech sector.
The resource prioritizes updates across three key areas: clinical trial advancements, research partnerships, and financial disclosures. Each category maintains focus on material developments while avoiding speculative commentary, ensuring users receive actionable information aligned with investment research requirements.
Bookmark this page for streamlined access to Portage Biotech's latest developments in immuno-oncology innovation. Regularly updated content serves as a reliable foundation for monitoring the company's progress through critical clinical and corporate milestones.
Portage Biotech Inc. (NASDAQ: PRTG) reported financial results for the fiscal year ended March 31, 2024. The company incurred a net loss of $75.4 million, down from $104.7 million in the previous year. Operating expenses increased to $18.2 million, with R&D costs rising 44% to $12.5 million. The company is exploring strategic alternatives, including potential partnerships, sale, or restructuring. Portage has discontinued its iNKT clinical trial for PORT-2 and paused enrollment in the ADPORT-601 trial for PORT-6 and PORT-7. As of March 31, 2024, Portage had $5.0 million in cash and cash equivalents and $2.9 million in current liabilities.
Portage Biotech (NASDAQ: PRTG) has announced a 1-for-20 reverse stock split of its ordinary shares, effective August 15, 2024. This strategic move aims to increase the per-share trading price and ensure compliance with Nasdaq's minimum $1.00 bid price requirement for continued listing. The split will convert every 20 pre-split shares into 1 post-split share, with fractional shares rounded up. Trading will continue under the symbol 'PRTG' with a new CUSIP number.
The reverse split will uniformly affect all shareholders, maintaining their percentage interest in the company, except for minor adjustments due to fractional shares. Outstanding options, warrants, and equity incentive plans will be adjusted accordingly. Notably, the number of authorized shares remains unlimited under British Virgin Islands law.
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