BioCentury
ARTICLE | Financial News

Protagonist raises $60M in follow-on

October 12, 2017 8:44 PM UTC

Protagonist Therapeutics Inc. (NASDAQ:PTGX) raised $60 million through the sale of 3.5 million shares at $17 in a follow-on underwritten by Leerink, Barclays, BMO Capital Markets, Stifel, BTIG and Nomura. The price is a 14% discount to its close of $19.81 on Wednesday, when it announced the offering after market hours. Protagonist priced the offering late Wednesday, and slipped $3.06 (15%) to $16.75 on Thursday.

Protagonist expects results early next year from an ongoing Phase IIb trial of PTG-100 to treat ulcerative colitis. The therapy is an integrin alpha(4)beta(7) peptide antagonist...