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Protagenic Therapeutics, Inc. (PTIX)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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2.1300+0.2600 (+13.90%)
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Neutralpattern detected
Previous Close1.8700
Open1.9200
Bid2.4300 x 2200
Ask2.4400 x 1800
Day's Range1.8900 - 2.2200
52 Week Range1.0500 - 7.0000
Volume339,161
Avg. Volume226
Market Cap22.411M
Beta (5Y Monthly)-0.40
PE Ratio (TTM)N/A
EPS (TTM)-0.2470
Earnings DateJun 18, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Protagenic Therapeutics, Inc. Announces Closing of $13.2 Million Public Offering and Uplisting to Nasdaq
    GlobeNewswire

    Protagenic Therapeutics, Inc. Announces Closing of $13.2 Million Public Offering and Uplisting to Nasdaq

    New York, April 29, 2021 (GLOBE NEWSWIRE) -- Protagenic Therapeutics, Inc. (NASDAQ:PTIX) ("PTIX" or "Company") today announced the closing of an underwritten public offering of 3,180,000 units at a public offering price of $4.15 per unit. Each unit is comprised of one share of common stock and one warrant to purchase one share of common stock. Each warrant is exercisable at a price of $4.98 per share and will expire five years from issuance. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 477,000 units at the public offering price less the underwriting discounts and commissions. The common stock and warrants comprising the units separated upon closing of the offering and were issued separately. The common stock and warrants began trading on the Nasdaq Capital Market on April 27, 2021, under the symbols "PTIX" and "PTIXW," respectively. The Company received gross proceeds of approximately $13.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Kingswood Capital Markets, division of Benchmark Investments, Inc., acted as sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as co-manager. The Securities and Exchange Commission ("SEC") declared effective a registration statement on Form S-1 relating to these securities on April 26, 2021. A final prospectus relating to this offering was filed with the SEC. The offering was made only by means of a prospectus, copies of which may be obtained, when available, from: Kingswood Capital Markets, a division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at syndicate@kingswoodcm.com or telephone at (212) 404-7002. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Protagenic Therapeutics, Inc. Protagenic Therapeutics, Inc. is a pre-clinical biopharmaceutical company endeavoring to develop first-in-class neuro-active peptides into human therapeutics to treat anxiety, treatment-resistant depression, addiction, and other disorders. For more information, visit http://www.protagenic.com. Forward-Looking Statements Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, the impact of the current COVID-19 pandemic, which may limit access to the Company's facilities, customers, management, support staff, and professional advisors, and to develop and deliver advanced voice and data communications systems, demand for the Company's products and services, economic conditions in the U.S. and worldwide, and the Company's ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Contact: Alexander K. Arrow, MD, CFAChief Financial OfficerTel: 213-260-4342Email: alex.arrow@protagenic.com

  • Protagenic Therapeutics, Inc. Announces Nasdaq Uplisting and Pricing of $13.2 Million Public Offering
    GlobeNewswire

    Protagenic Therapeutics, Inc. Announces Nasdaq Uplisting and Pricing of $13.2 Million Public Offering

    New York, April 26, 2021 (GLOBE NEWSWIRE) -- Protagenic Therapeutics, Inc. (NASDAQ:PTIX) ("PTIX" or "Company") today announced the pricing of an underwritten public offering of 3,180,000 units at a public offering price of $4.15 per unit for aggregate gross proceeds of approximately $13.2 million prior to deducting underwriting discounts, commissions, and other offering expenses. Each unit is comprised of one share of common stock and one warrant to purchase one share of common stock. Each warrant is exercisable for one share of common stock at an exercise price of $4.98 per share and will expire five years from issuance. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 477,000 units at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or around April 29, 2021, subject to satisfaction of customary closing conditions. In connection with the offering, the Company has received approval to list its common stock and warrants on the Nasdaq Capital Market, with its common stock trading under the symbol “PTIX” and the warrants trading under the symbol “PTIXW”, with trading expected to begin on April 27, 2021. Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-manager. The Securities and Exchange Commission ("SEC") declared effective a registration statement on Form S-1 relating to these securities on April 26, 2021. A final prospectus relating to this offering will be filed with the SEC. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: Kingswood Capital Markets, a division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at syndicate@kingswoodcm.com or telephone at (212) 404-7002. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Protagenic Therapeutics, Inc. Protagenic Therapeutics, Inc. is a pre-clinical biopharmaceutical company endeavoring to develop first-in-class neuro-active peptides into human therapeutics to treat anxiety, treatment-resistant depression, addiction, and other disorders. For more information, visit http://www.protagenic.com. Forward-Looking Statements Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, the impact of the current COVID-19 pandemic, which may limit access to the Company's facilities, customers, management, support staff, and professional advisors, and to develop and deliver advanced voice and data communications systems, demand for the Company's products and services, economic conditions in the U.S. and worldwide, and the Company's ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Contact: Alexander K. Arrow, MD, CFAChief Financial OfficerTel: 213-260-4342Email: alex.arrow@protagenic.com

  • Dr. Maurizio Fava of Massachusetts General Hospital to Serve as Principal Investigator for PT00114 Clinical Trial
    GlobeNewswire

    Dr. Maurizio Fava of Massachusetts General Hospital to Serve as Principal Investigator for PT00114 Clinical Trial

    Clinical Trials of First-in-Class Peptide to Commence in 1H 2021 NEW YORK, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Protagenic Therapeutics, Inc. (OTCQB: PTIX) announced today that Dr. Maurizio Fava, Psychiatrist-in-Chief at Massachusetts General Hospital (MGH), and Director of the Division of Clinical Research of the MGH Research Institute, will serve as the principal investigator in its upcoming clinical trial, a Phase 1/2a basket study designed to test PT00114 in healthy volunteers and patients with PTSD, Anxiety and Depression. PT00114 – Protagenic’s lead drug compound – is known scientifically as teneurin C-terminal associated peptide (TCAP), a naturally occurring peptide responsible for regulation of stress response in the brain. PT00114 is a first-in-class compound, and has demonstrated compelling efficacy potential with a strong safety profile in extensive preclinical models.“PT00114 has a unique mechanism of action, with robust effects in preclinical studies. Given the critical role stress plays in Post-Traumatic Stress Disorder, Major Depressive Disorder, and Generalized Anxiety Disorder – coupled with the need to develop new therapeutic options for these patients – it is our hope that PT00114 will emerge as a new medicine for these conditions,” said Dr. Fava.“We are looking forward to working with Dr. Fava as our principal investigator,” said Dr. Garo Armen, Executive Chairman of Protagenic Therapeutics, “Dr. Fava’s extensive experience with patients with these disorders has provided valuable insight into our clinical trial design and protocol planning.”In addition, Protagenic Therapeutics recently completed a two-species GLP toxicology study as part of the company’s progress toward an IND filing with the FDA. PT00114 produced no observable signs of toxicity at four weeks post-injection in both a rat and non-human primate.Beyond these key R&D progress milestones, Protagenic has continued to uncover important research validation of the science behind TCAP. A CRISPR-based gene knockdown experiment conducted last year confirmed PT00114’s activity on the Latrophilin receptor system in the brain; Latrophilins are highly conserved G-coupled protein receptors on cell surfaces responsible for receiving and transmitting messages. Understanding this cellular level mechanism of TCAP will allow Protagenic to drive more effective future development and pharmacology efforts. Moreover, PT00114 is being developed as a therapeutic for anxiety, depression, post-traumatic stress disorder (PTSD) and addiction, each of which have been shown to be associated with impaired glucose metabolism in the brain. In a recent publication (Hogg, et al1), it was demonstrated that pharmacologically administered synthetic TCAP increases glucose uptake in brain neurons. Since glucose is the principal energy fuel for brain function, this suggests that administered TCAP has the potential to restore disordered nerve function in settings such as depression where it has been found to be deficient. Additional prior studies indicate that TCAP and the teneurins family of peptides have evolved over millennia across many different animal species, supporting the notion that these peptides play critical roles in intercellular communication in the brain.About Protagenic Therapeutics, Inc.Protagenic Therapeutics, Inc. (OTCQB: PTIX) is a pre-clinical biopharmaceutical company endeavoring to develop first-in-class neuro-active peptides into human therapeutics to treat anxiety, treatment-resistant depression, addiction, and other disorders. For more information, visit http://www.protagenic.com.Forward-Looking StatementsThis press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding Protagenic Therapeutics’ product candidates and pre-clinical development and clinical trial plans and activities. Forward-looking statements include words such as "expects," "anticipates," "intends," "plans," "could," "believes," "estimates" and similar expressions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, our ability to obtain additional capital to meet our liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete the pre-clinical testing and eventual clinical trials of our product candidates; our ability to successfully complete research and further development and commercialization of our product candidates; the uncertainties inherent in pre-clinical and clinical testing; the timing, cost and uncertainty of obtaining regulatory approvals; our ability to protect the Company's intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's products; and the other factors described under the Risk Factors section of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.. Protagenic Therapeutics cautions investors not to place considerable reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this press release, and Protagenic undertakes no obligation to update or revise the statements, other than to the extent required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.Press Contacts:Protagenic Therapeutics, Inc. Alexander K. Arrow, MD, CFA Chief Financial Officer 213-260-4342 alex.arrow@protagenic.comMassachusetts General Hospital Noah Brown Senior Public Affairs & Media Relations Officer 617-643-3907 nbrown9@partners.org * * *1 Hogg, D.W., Chen, Y., D'Aquila, A.L., Xu, M., Husić, M., Tan, L.A. et al. (2018). A novel role of the corticotrophin-releasign hormone regulating peptide, teneurin C-terminal associated peptide 1, on glucose uptake in the brain. J. Neuroendocrinol April 2018, 30(4)