Protagonist Therapeutics Receives $90,000,000 New Round

  • Feed Type
  • Date
    8/11/2016
  • Company Name
    Protagonist Therapeutics
  • Mailing Address
    521 Cottonwood Drive Milpitas, CA 95035 USA
  • Company Description
    Protagonist Therapeutics (NASDAQ: PTGX) is a biotechnology company pursuing the discovery and development of disulfide-rich peptides (DRPs) as well differentiated alternatives to biologics.
  • Website
    http://www.protagonist-inc.com
  • Transaction Type
    IPO
  • Transaction Amount
    $90,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The principal purposes of this offering are to obtain additional capital to support our operations, to create a public market for our common stock and to facilitate our future access to the public equity markets. We intend to use the net proceeds from this offering as follows: approximately $33.0 million to fund continued development of PTG-100 through the completion of a Phase 2b clinical trial; approximately $6.0 million to advance PTG-200 to complete IND-enabling studies and to begin a Phase 1 clinical trial; approximately $5.0 million to complete IND-enabling studies for PTG-300; approximately $2.0 million to fund our research and discovery activities related to additional product candidates; and the remaining proceeds for working capital and other general corporate purposes.We believe, based on our current operating plan and expected expenditures that the net proceeds from this offering and our existing cash, cash equivalents, and available-for-sale securities will be sufficient t
  • M&A Terms

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