Protagenic Therapeutics Provides Update on Form 10-Q Filing Timeline and Nasdaq Compliance
Rhea-AI Summary
Protagenic Therapeutics (Nasdaq:PTIX), a biopharmaceutical company, announced a delay in filing its Q2 2025 Form 10-Q due to ongoing merger-related financial consolidation work. The company received a Nasdaq notice on August 20, 2025 regarding non-compliance with Listing Rule 5250(c)(1).
The delay is attributed to the need to complete merger-related financial consolidation, including purchase accounting adjustments and pro forma financial information. While PTIX's securities continue trading on Nasdaq Capital Market, the company plans to regain compliance promptly upon filing and will submit a compliance plan if necessary.
Positive
- Company remains listed on Nasdaq with no immediate impact on trading
- Management expects the filing delay to be brief
- Company proactively working on compliance plan
Negative
- Delayed Q2 2025 Form 10-Q filing puts company in non-compliance with Nasdaq listing rules
- Uncertainty regarding definitive filing timeline
- Risk of potential further regulatory actions if compliance is not achieved promptly
News Market Reaction 8 Alerts
On the day this news was published, PTIX gained 6.37%, reflecting a notable positive market reaction. Argus tracked a peak move of +17.5% during that session. Argus tracked a trough of -5.8% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $222K to the company's valuation, bringing the market cap to $4M at that time.
Data tracked by StockTitan Argus on the day of publication.
Delay Attributable to Merger-Related Financial Consolidation
NEW YORK, NY / ACCESS Newswire / August 22, 2025 / Protagenic Therapeutics, Inc. (Nasdaq:PTIX), a biopharmaceutical company developing novel neuro-active peptide therapies, today announced that it expects to file its Quarterly Report on Form 10-Q for the period ended June 30, 2025 in the near future, following a delay attributable to the completion of merger-related consolidation of financial statements, including purchase accounting adjustments, pro forma financial information, and related disclosures. While the Company anticipates this delay to be brief, there can be no assurance as to the definitive timing of the filing.
Protagenic also confirmed receipt of a notice from Nasdaq in connection with the Company's failure to file its Quarterly Report on Form 10-Q for the period ended June 30, 2025, as required under Listing Rule 5250(c)(1), received on August 20, 2025. The notice has no immediate effect on the listing or trading of Protagenic's securities, which continue to trade on the Nasdaq Capital Market under the symbol "PTIX." The continued listing criteria that the company does not currently meet are Listing Rule 5250(c)(1). The specific basis and concern identified by Nasdaq in reaching the determination is that the company has not yet filed its Q1 2026 Form 10-Q. The Company expects to regain compliance promptly upon filing. The Company intends to submit a compliance plan if necessary, within the required timeframe, consistent with the letter.
About Protagenic Therapeutics, Inc.:
Protagenic Therapeutics, Inc. (Nasdaq:PTIX) is committed to pioneering neuro-active peptides into therapeutics to mitigate stress-related disorders. For more information, visit www.protagenic.com.
About PT00114:
PT00114, a 41-amino-acid synthetic peptide, holds promise in treating various neuro-psychiatric conditions, including depression, anxiety, and PTSD. It operates with a novel mechanism, mirroring the active part of the natural brain hormone TCAP, thereby reducing circulating cortisol levels.
Forward-Looking Statements:
Statements in this press release contain "forward-looking statements," within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "suggest," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the completion, timing and results of current and future clinical studies relating to the Company's product candidates. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Company Contact:
Alexander K. Arrow, MD, CFA
Chief Financial Officer
Protagenic Therapeutics, Inc.
149 Fifth Ave, Suite 500, New York, NY 10010
Tel: 213-260-4342
Email: alex.arrow@protagenic.com
SOURCE: Protagenic Therapeutics, Inc.
View the original press release on ACCESS Newswire
FAQ
Why did Protagenic Therapeutics (PTIX) delay its Q2 2025 10-Q filing?
What is the impact of Nasdaq's notice on PTIX stock trading?
When will Protagenic Therapeutics regain Nasdaq compliance?
What steps is PTIX taking to address the Nasdaq compliance issue?
What Nasdaq listing rule did Protagenic Therapeutics violate?
