Protagonist Ther Stock Price, News & Analysis

Protagonist Therapeutics announced that final data from the Phase 2 REVIVE study of rusfertide in polycythemia vera will be presented at the 66th Annual American Society of Hematology (ASH) Meeting. The presentation, titled 'Final Results from the Phase 2 Revive Study Investigating the Hepcidin Mimetic Rusfertide in Patients with Polycythemia Vera (PV),' will be delivered by Dr. Aaron Gerds from Cleveland Clinic on December 9, 2024, in San Diego.

Protagenic Therapeutics (Nasdaq:PTIX) has announced a private placement offering with expected gross proceeds of $1.275 million. The company will issue 1,948,295 shares of common stock (or pre-funded warrants), along with series A and B warrants to purchase additional shares. The purchase price is set at $0.64 per share ($0.89 for insiders). Series A warrants have an 18-month term while Series B warrants extend to 5 years, both with a $0.64 exercise price. The offering, expected to close by November 4, 2024, will be used for working capital purposes. Brookline Capital Markets is serving as the sole placement agent.

Protagonist Therapeutics (NASDAQ:PTGX) has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference in New York, NY, scheduled for September 9-11, 2024. The company's President and CEO, Dinesh V. Patel, Ph.D., will engage in a fireside chat on Tuesday, September 10 at 1:30 P.M. ET.

The fireside chat will be accessible via webcast, providing an opportunity for investors and interested parties to gain insights into Protagonist's developments and strategies. Additionally, the company will be available for one-on-one meetings during the conference, offering a more personalized interaction for attendees.

This participation underscores Protagonist's commitment to engaging with the investment community and sharing updates on its progress in the biotechnology sector.

Protagonist Therapeutics (NASDAQ:PTGX) reported Q2 2024 financial results and provided a corporate update. Key highlights include:

1. JNJ-2113 Phase 3 trials in psoriasis and Phase 2b trial in ulcerative colitis expected to complete primary endpoint portions in Q4 2024.

2. Rusfertide Phase 3 VERIFY study topline results expected in Q1 2025.

3. Cash position of $595.4M as of June 30, 2024, providing runway through end of 2027.

4. Q2 2024 financial results: License and collaboration revenue of $4.2M, R&D expenses of $33.5M, G&A expenses of $9.4M, and net loss of $30.6M.

5. Six-month 2024 results show net income of $176.7M, primarily due to the $300M upfront payment from the Takeda collaboration agreement.

Protagonist Therapeutics announced the publication of preclinical and phase 1 clinical data on JNJ-2113 in Scientific Reports. JNJ-2113 is the first-in-class targeted oral peptide inhibitor of the IL-23 receptor in clinical development. The study demonstrated JNJ-2113's high potency, selectivity, and efficacy in various models. Key findings include:

1. Single-digit picomolar affinity binding to IL-23R
2. Efficacy in skin inflammation and colitis models
3. Dose-proportional pharmacokinetics in humans
4. Well-tolerated in healthy volunteers

JNJ-2113 is currently in Phase 3 trials for psoriasis and Phase 2b for ulcerative colitis, with results expected in 3-9 months.

Protagonist Therapeutics (NASDAQ:PTGX) has appointed Newman Yeilding, M.D. as Chief Scientific Advisor, effective August 1, 2024. Dr. Yeilding, an accomplished physician-scientist with expertise in inflammatory and immunologic diseases, joins from Janssen Pharmaceutical Companies of Johnson & Johnson. He brings 17 years of experience in R&D and commercialization of novel therapeutics in the I&I space.

As Chief Science Advisor, Dr. Yeilding will provide leadership in discovery, pre-clinical, and translational research to maximize the impact of Protagonist's peptide platform. His appointment aligns with the company's goal to expand its pipeline with drug candidates having blockbuster potential, including the oral peptide IL-17 antagonist program.

Protagonist Therapeutics (NASDAQ:PTGX) has announced its participation in the BTIG Virtual Biotechnology Conference 2024. The event is scheduled for August 5-6, 2024. Dinesh V. Patel, Ph.D., the company's President and CEO, will take part in a fireside chat on Tuesday, August 6 from 2:00-2:35 P.M. EDT.

In addition to the fireside chat, Protagonist's team will be available for one-on-one meetings during the conference. Interested parties are encouraged to contact their BTIG representative to arrange meetings with the Protagonist team.

Protagonist Therapeutics presented updated long-term follow-up results from the Phase 2 REVIVE study of rusfertide at the EHA2024 Congress. The study shows that rusfertide provides durable control of hematocrit levels below 45% for up to 3 years in patients with polycythemia vera. Additionally, it reduced the need for phlebotomies and normalized serum ferritin levels without new safety concerns. As of April 9, 2024, 81% of patients remain on treatment, with many transitioning to the THRIVE study for an additional two years. The study reports a stable safety profile, despite a small increase in localized, early-stage skin cancer cases among high-risk patients.

Protagonist Therapeutics announced its participation at the Jefferies Global Healthcare Conference 2024, scheduled for June 4-6 in New York City.

Dinesh V. Patel, Ph.D., President and CEO, will engage in a fireside chat on June 5 at 11:00-11:25 A.M. EDT and hold one-on-one meetings with participants.

The fireside chat will be webcasted live and a replay will be available for 90 days on the company's website.