Portage to expand review of alternatives, pauses ADPORT-601 trial enrollment

Portage Biotech reported that it is expanding its evaluation of strategic alternatives and implementing additional measures to extend its available cash runway. After a review of the Company’s future funding needs for clinical development of its adenosine antagonist platform as well as the current capital raising market for the Company, the Board of Directors has made the decision to pause further enrollment in the ADPORT-601 clinical trial of PORT-6 and PORT-7. The Company will explore strategic alternatives, which may include finding a partner for one or more of its assets, a potential sale of one or more of its assets, a sale of the Company, a merger, restructurings, both in and out of court, company wind down or other strategic action.