NEWARK, Calif., Oct. 11, 2017 /PRNewswire/ -- Protagonist
Therapeutics, Inc. (Nasdaq: PTGX), a biopharmaceutical company that
discovers and develops novel peptide-based drugs, announced
today that it intends to offer and sell, subject to market and
other conditions, shares of its common stock in an underwritten
public offering. Protagonist also expects to grant the underwriters
a 30-day option to purchase up to an additional 15 percent of the
number of shares of common stock sold in connection with the
offering. All of the shares to be sold in the offering are to be
sold by Protagonist. The company intends to use the net proceeds
from the proposed offering to fund clinical research and
development of the company's three therapeutic candidates, PTG-100,
PTG-200, and PTG-300, including the completion of ongoing clinical
trials, discovery programs and platform development, and for
working capital and general corporate purposes.
Leerink Partners LLC and Barclays Capital Inc. are acting as
joint lead book-running managers for the offering. BMO Capital
Markets Corp. and Stifel, Nicolaus & Company are acting as
passive joint book-running managers for the offering. BTIG and
Nomura are acting as co-lead managers for the offering. The
offering is subject to market conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
The securities described above are being offering by Protagonist
pursuant to a shelf registration statement, including a base
prospectus, filed by Protagonist with the Securities and Exchange
Commission (SEC) and declared effective by the SEC on October 5, 2017. A preliminary prospectus
supplement and the accompanying prospects related to the offering
is being filed with the SEC and will be available at the SEC's
website located at www.sec.gov. When available, copies of the
preliminary prospectus supplement and the accompanying prospectus
relating to this offering may be obtained from Leerink Partners
LLC, Attention: Syndicate Department, One Federal Street, 37th
Floor, Boston, MA, 02110, by email
at syndicate@leerink.com, or by telephone at (800) 808-7525, ext.
6132; or from Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847,
email: Barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there by any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Protagonist Therapeutics
Protagonist is a clinical development-stage biopharmaceutical
company that utilizes a proprietary technology platform to discover
and develop novel peptide-based drugs to address significant unmet
medical needs. Its primary focus is on developing potential
first-in-class oral targeted therapy-based peptide drugs that work
by blocking biological pathways that are currently targeted by
marketed injectable antibody drugs. Protagonist's lead peptide
candidates, PTG-100 and PTG-200, are based on this approach.
PTG-100 is currently in Phase 2b clinical trials for
moderate-to-severe ulcerative colitis, and the company plans to
initiate clinical trials of PTG-200 in 2017 as a potential
treatment for Crohn's disease. The company recently entered
into a worldwide collaboration with Janssen Biotech, Inc. to
co-develop and commercialize PTG-200. Protagonist is also
developing an injectable hepcidin mimetic, PTG-300, for the
treatment of rare diseases such as beta-thalassemia and
myelodysplastic syndromes, currently in a Phase 1 clinical
trial.
Protagonist is headquartered in Newark, California with pre-clinical and
clinical staff in California, and
discovery operations both in California and Brisbane, Queensland, Australia. For further
information, please visit http://www.protagonist-inc.com.
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SOURCE Protagonist Therapeutics, Inc.