Protagenic Therapeutics Completes Private Placement, Raises $1.275 Million

Protagenic Therapeutics, Inc. (NASDAQ:PTIXW) disclosed in a recent 8-K filing that its private placement transaction has successfully closed, resulting in significant fundraising for the company. The transaction was finalized on November 4, 2024, as announced by the company in a press release issued on November 5, 2024.

The private placement involved the sale of 1,948,295 shares of the company’s common stock, along with series A and series B common stock purchase warrants, each enabling the purchase of an aggregate of 1,948,295 shares of common stock. The total gross proceeds from the transaction amounted to approximately $1.275 million before deducting fees and other associated offering expenses.

Protagenic Therapeutics outlined its intention to utilize the net proceeds garnered from this transaction for bolstering its working capital. The company’s robust financial strategy is aimed at supporting its ongoing operations and advancing its innovative biopharmaceutical initiatives.

The announcement emphasized that the securities offering, including the common stock and related warrants issued, was executed in compliance with an exemption from the registration requirements under the Securities Act of 1933. Notably, neither the shares of common stock nor the warrants have been registered under the Securities Act or respective state securities laws.

Brookline Capital Markets, operating under Arcadia Securities, LLC, played a pivotal role by acting as the exclusive placement agent for this private placement, facilitating the successful execution of the transaction.

Protagenic Therapeutics (NASDAQ:PTIXW) has demonstrated a commitment to advancing neuro-active peptides for stress-related disorders. The company’s lead product PT00114, a synthetic peptide consisting of 41 amino acids, shows promise in addressing various neuro-psychiatric conditions, including depression, anxiety, and PTSD.

Despite the positive outcome of this private placement, Protagenic Therapeutics wants to caution investors about forward-looking statements contained in the Company’s reports. Although management remains optimistic about future prospects, actual results could diverge significantly due to inherent risks and uncertainties associated with the biopharmaceutical industry.

Investors and stakeholders are advised to exercise caution and due diligence when considering forward-looking statements. Protagenic Therapeutics commits to promptly revise or update any forward-looking statements in accordance with applicable laws and regulations.

For further details on Protagenic Therapeutics’ initiatives and developments, interested parties are encouraged to visit the company’s official website at www.protagenic.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities and should not be misconstrued as such. Any potential sales are subject to legal requirements and registration procedures under applicable securities laws and regulations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Protagenic Therapeutics’s 8K filing here.

Protagenic Therapeutics Company Profile

Protagenic Therapeutics, Inc, a biopharmaceutical company, engages in the discovery and development of therapeutics to treat stress-related neuropsychiatric and mood disorders. The company's lead compound comprises PT00114, a synthetic form of teneurin carboxy-terminal associated peptide, an endogenous brain signaling peptide that can dampen overactive stress responses.