Protagenic Therapeutics, Inc.
2.5800-0.18 (-6.52%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · PTIX · USD
Key Stats
Market Cap
4.97MP/E (TTM)
-Basic EPS (TTM)
-13.13Dividend Yield
0%Recent Filings
8-K
Auditor switch and Nasdaq notice
Protagenic Therapeutics switched auditors on August 7, 2025, dismissing MaloneBailey for Green Growth amid a clean transition with no disagreements, though the prior report flagged going concern doubts. The company faces Nasdaq non-compliance from a delayed Q2 10-Q filing due to merger accounting complexities, yet trading continues uninterrupted while they plan to submit a compliance plan. First doses completed in the PT00114 Phase I trial. Topline data due by September end.
8-K
Restructuring prioritizes clinical trial
Protagenic Therapeutics approved a restructuring plan on August 8, 2025, to shift to a virtual model and prioritize its Phase 2 trial of PT00114, expected to wrap in 9-12 months. The plan suspends preclinical programs for potential partnerships, cuts annualized expenses by $8 million, and terminates CEO Barrett Evans and COO Colin Stott—yet they stay on the board. One-time charges loom undetermined. This sharpens focus on clinical assets amid cash conservation.
8-K
Japan patent bolsters epilepsy pipeline
Protagenic Therapeutics secured Patent JP 7714571B in Japan on July 18, 2025, for its modified stilbenoid drug candidates targeting epilepsy and seizures, valid until March 31, 2041. This bolsters IP protection in the world's third-largest pharma market, worth over $85 billion in 2025, building on a prior UK grant. Exclusivity covers key compounds and formulations. Patent risks persist amid clinical uncertainties.
8-K
Board adds experienced director
Protagenic Therapeutics appointed Timothy R. Wright to its Board on July 18, 2025, as an independent Class II director, boosting the count to three independents. Wright, Executive Chairman of Isosceles and CEO of BIORG, brings deep experience from leading MiMedX and roles at Covidien and Teva. This move strengthens governance amid biotech challenges. He receives standard non-employee director pay.
8-K
Rights plan protects ownership
Protagenic Therapeutics declared a distribution of rights to buy common stock at $0.01 per share, granting one right per share held as of July 7, 2025, to preserve legacy stockholders' ownership post-acquisition of Phytanix Bio under a share exchange agreement. Each right allows purchase of 4.57 shares, but remains unexercisable until stockholder approval of both the deal and rights issuance at an upcoming meeting. Rights, if approved, expire within six months. This move balances dilution risks while advancing the biotech expansion.
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