Protagenic Therapeutics Announces Private Placement to Raise Up to $5 Million
Protagenic Therapeutics (PTIX) has announced a private placement aimed at securing up to $5 million in gross proceeds. The initial phase of the offering will generate $1.5 million, with an additional $3.5 million potentially available through the exercise of milestone-linked warrants. The company plans to allocate these funds toward completing IND-enabling activities for its lead asset, PT00114. Furthermore, the capital will support the initiation of a Phase 1/2a clinical trial targeting generalized anxiety disorder (GAD), alongside general working capital requirements.