---
title: "Portage Biotech Reports Decreased Quarterly Loss"
description: "Portage Biotech Inc. reported a decreased net loss of $2.7 million for the fiscal quarter ended June 30, 2024, down from $4.2 million last year, primarily due to reduced research and development costs"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/212668766.md"
published_at: "2024-08-27T12:59:56.000Z"
---

# Portage Biotech Reports Decreased Quarterly Loss

> Portage Biotech Inc. reported a decreased net loss of $2.7 million for the fiscal quarter ended June 30, 2024, down from $4.2 million last year, primarily due to reduced research and development costs from paused clinical trials. The company is exploring strategic alternatives to boost shareholder value, which may include partnerships or mergers, while continuing to advance its immuno-oncology portfolio.

Portage Biotech Inc (**PRTG**) has released an update.

Portage Biotech Inc. has reported a significant decrease in net loss for the fiscal quarter ended June 30, 2024, with a reduction from $4.2 million to $1.7 million compared to the same period last year, reflecting lower research and development costs due to paused clinical trials. The company is actively seeking strategic alternatives to enhance shareholder value, which may include partnerships, sales, mergers, or finanical restructuring. Despite discontinuing certain program trials, Portage remains committed to advancing its immuno-oncology portfolio and clinical collaborations to improve cancer patient outcomes.

For further insights into PRTG stock, check out TipRanks’ Stock Analysis page.

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---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
