- Protagenic Therapeutics, Inc. (PTIX) raises $3.1 million through recent warrant exchanges and exercises.
- Funds will be used to support working-capital needs and drug development for stress-related disorders.
- Protagenic is advancing its business through a combination with Phytanix Bio Inc.
Protagenic Therapeutics, Inc. (PTIX), a company focused on developing peptide-based treatments for stress-related and central nervous system disorders, has announced the generation of $3.1 million in cash through recent warrant exchanges and exercises. This influx of funds will bolster the company's working capital and support the advancement of its innovative drug candidates.
This financial boost comes as Protagenic Therapeutics moves forward with its business combination with Phytanix Bio Inc., a company known for developing pharmaceuticals from cannabinoid and "cannabinoid-like" molecules. The merger integrates six complementary drug programs, targeting conditions such as stress disorders, epilepsy, and obesity, under one organizational structure.
Investors should note the presence of forward-looking statements, as the company continues to navigate potential risks and uncertainties in the development and clinical trial phases. Protagenic remains committed to pioneering advancements in medical treatments for stress-related disorders.
