Protagonist Therapeutics has received approximately $34.4 million in proceeds from the exercise of warrants to purchase 2.75 million shares of the Company’s Common Stock. The warrants were issued in connection with an August 2018 equity financing and expired on August 8, 2023. “These proceeds make Protagonist’s cash position even stronger, with an estimated cash runway through the first quarter of 2026,” said Dinesh V. Patel, Ph.D., President and CEO of Protagonist. “Importantly, that estimate does not include $200 million in potential milestones associated with a successful Phase 3 study, NDA filing, and approval of JNJ-2113 in psoriasis,” Dr. Patel continued.
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