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Name | Symbol | Market | Type |
---|---|---|---|
Protagenic Therapeutics Inc | NASDAQ:PTIXW | NASDAQ | Equity Warrant |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0081 | 0.008 | 0.028 | 0 | 00:59:34 |
Recent Highlights
“During the second quarter and year to date, we made important progress towards advancing PT00114 into the clinic, in order to treat stress-related neuropsychiatric disorders which afflict a growing patient population,” said Dr. Garo Armen, Executive Chairman of Protagenic Therapeutics. “We have a clear clinical path toward major indications. We anticipate rapid efficacy and safety readouts in the first half of 2022.”
Anticipated Upcoming Milestones
Financial Results for the Second Quarter Ended June 30, 2021:
Select Financial Information
Protagenic Therapeutics, Inc., and SubsidiaryCash, Cash Equivalents, and Current Assets(In U.S. Dollars)(Unaudited)
June 30, | December 31, | |||||||
2021 | 2020 | |||||||
ASSETS | ||||||||
CURRENT ASSETS | ||||||||
Cash | $ | 11,932,973 | $ | 671,091 | ||||
Prepaid expenses | 129,167 | 208,156 | ||||||
TOTAL CURRENT ASSETS | 12,062,140 | 879,247 | ||||||
TOTAL ASSETS | $ | 12,062,140 | $ | 879,247 |
Consolidated Statements of Operations (In U.S. Dollars)(Unaudited)
For the three months endedJune 30, | For the six months ended June 30, | |||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||
OPERATING AND ADMINISTRATIVE EXPENSES | ||||||||||||||||
Research and development | 140,592 | 52,008 | 732,943 | 117,967 | ||||||||||||
General and administrative | 1,168,241 | 436,935 | 1,782,080 | 891,712 | ||||||||||||
TOTAL OPERATING AND ADMINISTRATIVE EXPENSES | 1,308,833 | 488,943 | 2,515,023 | 1,009,679 | ||||||||||||
LOSS FROM OPERATIONS | (1,308,833 | ) | (488,943 | ) | (2,515,023 | ) | (1,009,679 | ) | ||||||||
OTHER (EXPENSE) INCOME | ||||||||||||||||
Interest income | 227 | 93 | 232 | 477 | ||||||||||||
Interest expense | (239,190 | ) | (54,944 | ) | (323,127 | ) | (93,930 | ) | ||||||||
Change in fair value of derivative liability | - | (23,560 | ) | 83,670 | 37,189 | |||||||||||
TOTAL OTHER INCOME (EXPENSES) | (238,963 | ) | (78,411 | ) | (239,225 | ) | (56,264 | ) | ||||||||
LOSS BEFORE TAX | (1,547,796 | ) | (567,354 | ) | (2,754,248 | ) | (1,065,943 | ) | ||||||||
INCOME TAX EXPENSE | - | - | - | - | ||||||||||||
NET LOSS | $ | (1,547,796 | ) | $ | (567,354 | ) | $ | (2,754,248 | ) | $ | (1,065,943 | ) | ||||
COMPREHENSIVE LOSS | ||||||||||||||||
Other Comprehensive Loss - net of tax | ||||||||||||||||
Foreign exchange translation income (loss) | 482 | 1,084 | 973 | (1,335 | ) | |||||||||||
TOTAL COMPREHENSIVE LOSS | $ | (1,547,314 | ) | $ | (566,270 | ) | $ | (2,753,275 | ) | $ | (1,067,278 | ) | ||||
Net loss per common share - Basic and Diluted | $ | (0.11 | ) | $ | (0.06 | ) | $ | (0.22 | ) | $ | (0.10 | ) | ||||
Weighted average common shares - Basic and Diluted | 14,487,277 | 10,261,419 | 12,488,906 | 10,261,419 |
See accompanying notes to these unaudited consolidated financial statements in our Form 10-Q filed with the SEC August 16, 2021
About Protagenic Therapeutics, Inc.
Protagenic Therapeutics, Inc. (Nasdaq: PTIX) is a pre-clinical biopharmaceutical company endeavoring to develop first-in-class neuro-active peptides into human therapeutics to treat several stress related disorders. For more information, visit http://www.protagenic.com.
Forward-Looking Statements
This 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.
Analyst Contact:Alexander K. Arrow, MD, CFA Chief Financial Officer213-260-4342alex.arrow@protagenic.com
Media Contact:James CarbonaraHayden IR(646)-755-7412james@haydenir.com
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