Stock Performance: Shares of Protagenic Therapeutics Inc (PTIX) surged over 100% after the announcement of a key clinical milestone in their Phase 1 trial for PT00114, a hormone therapy targeting stress and mood disorders.
Clinical Trial Update: The company successfully administered the first dose to all subjects in the multiple-dose portion of the trial and expects to complete dosing by the end of August, with topline safety data anticipated by the end of September.
Therapeutic Approach: PT00114 is based on Teneurin C-terminus Associated Peptide, a naturally occurring brain hormone aimed at regulating stress and emotional balance, potentially offering a treatment with fewer side effects.
Current Stock Price: As of Thursday afternoon, PTIX shares were trading at $4.02, reflecting a 76% increase, with a notable 52-week high of $15.54 and a low of $2.25.
Protagenic Therapeutics, Inc. is a neuroactive biopharmaceutical company. The Company has approximately six drug candidates targeting stress-related and CNS disorders, including treatments for obesity and metabolic disorders. The Company's pipeline includes PT-00114 in Phase I/IIa and five preclinical assets including PHYX-001, cannabinoid-based compounds, and modified stilbenoid assets. The PHYX-001 is a potassium channel modulator with a mechanism similar to XEN1101 and BHV-7000. The Company's cannabinoid assets include multiple cannabinoid-based compounds with composition-of-matter IP; potential in CNS, cardiometabolic, and other indications. The Company's cannabinoid assets also include a molecule with potential in the obesity, metabolic dysfunction sector, where the GLP-1 agonists have become medications. Its modified stilbenoid assets include modified stilbenoid compounds with composition-of-matter IP and anticonvulsant activity in preclinical models.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
