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.
The PRTG news page on Stock Titan provides an archive of disclosures and press releases for Portage Biotech Inc., now renamed AlphaTON Capital Corp. Company communications describe a transition from being solely a clinical-stage immuno-oncology company to operating with two primary business lines: a legacy oncology research and development portfolio and a new digital asset treasury strategy centered on The Open Network (TON) token and the Telegram ecosystem.
News items associated with the former PRTG symbol include updates on clinical and preclinical programs such as PORT-6, a highly selective A2A adenosine receptor antagonist, and PORT-7, a selective A2B adenosine receptor inhibitor. Press releases report confirmatory and promising preclinical data in mesothelioma models, plans to commence first-in-human trials for PORT-7, and the resumption of enrollment in the final dose-escalation cohort for PORT-6 in the ADPORT-601 Phase 1b trial. Additional oncology-related news covers the re-launch of the adenosine-focused subsidiary as Cyncado Therapeutics and strategic transactions such as a stock-for-stock exchange with Compedica Holdings Limited.
Filings and press releases also describe capital markets developments, including private financings, at-the-market offering agreements, and Nasdaq listing compliance updates. More recent news under the company’s new name, AlphaTON Capital Corp, focuses on the launch of a TON digital asset treasury strategy, a significant private placement involving both cash and cryptocurrency, and loan and treasury management agreements intended to support large-scale TON acquisitions and management.
Investors and researchers can use this page to review how the business mix, financing activities, and strategic direction have evolved from Portage Biotech’s immuno-oncology focus under PRTG to AlphaTON Capital Corp’s combined digital asset and legacy oncology strategy associated with the ATON ticker.
Portage Biotech Inc. (NASDAQ: PRTG) announced its financial results for the quarter ending September 30, 2022, reporting a net loss of approximately $1.1 million, significantly down from $2.9 million during the same period in 2021. The company continues to progress with its lead iNKT agonist, PORT-2, showing a favorable safety profile. A new clinical collaboration with Merck aims to evaluate PORT-2 alongside KEYTRUDA for NSCLC treatment. Operational costs rose slightly due to increased clinical trial expenditures and staff-related expenses.
Wilson Sonsini Goodrich & Rosati announces Jon Soderstrom as the new Chief Licensing Advisor (East) in its New York office. Previously managing director at Yale University's Office of Cooperative Research, Soderstrom played a significant role in developing technology transfer initiatives and raising over $1 billion for more than 45 new ventures. His expertise in technology and pharmaceuticals is expected to enhance the firm's client relationships and contributions to the entrepreneurial community on the East Coast.
Portage Biotech Inc. (NASDAQ: PRTG) announced updates on its Phase 1/2 study of PORT-2, an iNKT agonist for refractory non-small cell lung cancer and melanoma, at the SITC 2022 conference. The data indicates a favorable safety profile and early efficacy signals for PORT-2, particularly at the 3 mg/m² dose. The study, expanding in the U.S. and EU, explores PORT-2 as both a monotherapy and in combination with Merck’s KEYTRUDA. Encouraging findings include increased PD-L1 expression and CD86+ B cells, suggesting potential synergy with current treatments. Further updates are anticipated as the trial progresses.
Portage Biotech Inc. has partnered with Merck to evaluate PORT-2, an iNKT agonist, in combination with KEYTRUDA for treating non-small cell lung cancer (NSCLC). The study, part of the IMPORT-201 trial, will assess its effectiveness in both front-line and PD-1 resistant patients. Preliminary data indicates that PORT-2 enhances PD-L1 expression and has shown promise as a monotherapy. This collaboration aims to expand potential treatment options for NSCLC patients while leveraging KEYTRUDA's established efficacy in immunotherapy.
Pfizer Inc. reported its third-quarter 2022 results, with revenues of $22.6 billion, a 6% decline compared to the previous year. Excluding contributions from Paxlovid and Comirnaty, the revenue showed a 2% operational growth. Reported diluted EPS increased by 6% to $1.51, and adjusted diluted EPS rose 40% to $1.78. The company raised its 2022 revenue guidance to $99.5-$102 billion and narrowed its adjusted diluted EPS guidance to $6.40-$6.50. Pfizer's pipeline includes promising candidates with positive Phase 3 data, and it plans to launch up to 19 new products within 18 months.
Pfizer has completed its acquisition of Biohaven Pharmaceutical for $11.6 billion, paying $148.50 per share. This acquisition adds the innovative migraine therapy NURTEC® ODT and a portfolio of CGRP receptor antagonists, including rimegepant and zavegepant, to Pfizer's pipeline. These drugs aim to serve over 1 billion migraine patients globally. The merger enhances Pfizer's Internal Medicine portfolio with strong growth potential through 2030 and beyond. Biohaven became a wholly-owned subsidiary, while Biohaven Ltd. retained non-CGRP assets and will continue trading under the ticker BHVN.
Portage Biotech Inc. (PRTG) has outlined its strategic focus on advancing its clinical development programs, specifically targeting immuno-oncology therapies through its iNKT and adenosine platforms. Major goals include converting the PORT-2 study into a company-sponsored trial and launching new studies in the U.S. Clinical trials are set to provide efficacy readouts in multiple tumor types over the next two years. Despite challenges, the company anticipates key data releases through 2024, aiming to expand its pipeline and enhance treatments for cancers.
Portage Biotech Inc. (NASDAQ: PRTG), a clinical-stage immuno-oncology company, has announced its participation in two upcoming investor conferences.
They will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 13, 2022, at 9:30 am ET and at Cantor Fitzgerald’s Oncology, Hematology, & HemeOnc Conference on September 28, 2022, at 1:45 pm ET. The management will also hold one-on-one meetings with investors at these events, emphasizing their commitment to improving treatment options and survival rates for patients with cancer.
Portage Biotech (PRTG) reported its financial results for Q2 2022, highlighting significant advancements in its clinical pipeline, including five small molecule immuno-oncology assets. The company extended its cash runway potentially into 2024 following a $30 million share purchase agreement with Lincoln Park Capital Fund. Financially, PRTG reduced its net loss from $3.2 million in Q2 2021 to $1.6 million in Q2 2022 while increasing operating expenses to $4.1 million. Key collaborations with research institutions and promising early data from clinical studies underscore PRTG's growth potential.
Portage Biotech Inc. (NASDAQ: PRTG) has announced leadership changes to strengthen its board. CEO Dr. Ian Walters will additionally serve as Chairman of the Board, while current Chairman Dr. Greg Bailey transitions to lead Director. The company also appointed Justin Fairchild, MPH, as Vice President of Development, enhancing its clinical immunotherapy expertise. These decisions reflect the board's confidence in Walters' leadership amid challenging market conditions as Portage prepares for multiple data readouts over the next year, including ongoing Phase 1/2 studies of innovative treatments.