Protagonist Therapeutics (PTGX) Files $75M IPO

Protagonist Therapeutics, Inc. (Nasdaq: PTGX) filed a registration with the U.S. SEC for an IPO of its common stock. The proposed maximum offering price is $75 million. The company plans to list on the Nasdaq under the ticker, PTGX.

The offering is being made via Leerink Partners, Barclays, and BMO Capital Markets.

Protagonist Therapeutics is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities (NCEs) to address significant unmet medical needs.

Our primary focus is on developing first-in-class oral peptide drugs that specifically target biological pathways also targeted by currently marketed injectable antibody drugs. Compared to injectable antibody drugs, our oral peptides offer targeted delivery to the gastrointestinal (GI) tissue compartment, potential for improved safety due to minimal exposure in the blood, improved convenience and compliance due to oral delivery, and the opportunity for earlier introduction of targeted therapy for inflammatory bowel disease (IBD). Our initial lead product candidates, PTG-100 and PTG-200, are based on this approach, and we believe they have the potential to transform the existing treatment paradigm for IBD, a GI disease consisting primarily of ulcerative colitis (UC) and Crohn’s disease (CD), the company said.

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