Protagenic Therapeutics Receives $3.1 Million from Recent Warrant Activity

Rhea-AI Summary

Protagenic Therapeutics (NASDAQ: PTIX) has secured $3.1 million in funding through warrant exchanges and exercises over a four-day trading period. The company plans to utilize these proceeds for working capital requirements and to advance its development of peptide-based drug candidates targeting stress-related and central nervous system disorders. This financial development follows Protagenic's recently announced business combination with Phytanix Bio Inc. on May 19, 2025, which has consolidated six complementary drug development programs focusing on stress disorders, epilepsy, obesity, and other indications under a single entity.

Positive

• Raised $3.1 million in capital through warrant activities
• Strategic business combination with Phytanix Bio expanding drug pipeline to six programs
• Diversified portfolio spanning multiple therapeutic areas

Negative

• Dilution of existing shares through warrant exercises
• Additional capital may be needed for multiple drug development programs

News Market Reaction – PTIX

-10.76%

1 alert

-10.76% News Effect

On the day this news was published, PTIX declined 10.76%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, NY / ACCESS Newswire / May 21, 2025 / Protagenic Therapeutics, Inc. (Nasdaq:PTIX) (the "Company") announced today that warrant exchanges and exercises over the last four trading days have generated $3.1 million in cash. The proceeds will fund working-capital needs and advance the Company's peptide-based drug candidates for stress-related and central-nervous-system disorders.

This financing comes as Protagenic executes on its previously announced business combination with Phytanix Bio Inc. (May 19, 2025). The combination has brought together six complementary drug programs spanning stress disorders, epilepsy, obesity, and other indications under one company.

About Protagenic Therapeutics, Inc.

Protagenic Therapeutics (Nasdaq: PTIX) is pioneering peptides for stress-related disorders. For more information, visit www.protagenic.com.

About Phytanix Bio Inc.

Phytanix Bio is an innovative pharmaceutical company specializing in the development of medicines manufactured from cannabinoid and "cannabinoid-like" molecules. For more information, visit www.phytanix.com.

Forward-Looking Statements:

This press release contains forward-looking statements concerning Protagenic Therapeutics' product candidates and clinical trial plans. These statements are subject to various risks and uncertainties. Investors are urged to exercise caution and not place undue reliance on these forward-looking statements.

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

How much funding did PTIX raise through warrant activity in May 2025?

Protagenic Therapeutics (PTIX) raised $3.1 million through warrant exchanges and exercises over four trading days in May 2025.

What will PTIX use the $3.1 million warrant proceeds for?

The proceeds will be used for working capital needs and to advance the company's peptide-based drug candidates for stress-related and central nervous system disorders.

When did PTIX announce its business combination with Phytanix Bio?

Protagenic Therapeutics announced its business combination with Phytanix Bio Inc. on May 19, 2025.

What therapeutic areas are included in PTIX's drug development pipeline after the Phytanix merger?

The combined company's pipeline includes six drug programs targeting stress disorders, epilepsy, obesity, and other indications.