Protagonist Therapeutics (PTGX) said in a regulatory filing that it is aware of the current situation affecting Silicon Valley Bank (SIVB). Protagonist considers its exposure to any liquidity concern at SVB to be limited, given that cash held at SVB is approximately $13 million as of March 9, 2023. Multiple institutions serve as custodians for approximately $218 million of third-party investments held in Protagonist’s name which are not directly exposed to any consequences of a liquidity concern at SVB.
Published first on TheFly
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