Protagenic Therapeutics, Inc.\new SEC 10-Q Report

Protagenic Therapeutics, Inc., a biotechnology company focused on developing novel therapeutics for neurological and mood disorders, has released its Form 10-Q report for the third quarter ended September 30, 2025. The report provides a comprehensive overview of the company's financial performance and key business developments during this period. Financial Highlights Net Loss: The company reported a net loss of $(869,496) for the three months ended September 30, 2025, compared to a net loss of $(582,387) for the same period in 2024.Net Loss Per Share: The basic and diluted net loss per share increased to $(0.47) from $(0.11) for the same period in 2024.Comprehensive Loss: The comprehensive loss for the three months ended September 30, 2025, was $(832,424), which includes a foreign currency translation gain of $37,072.Loss from Operations: The loss from operations increased significantly to $(1,113,864) from $(355,374) for the same period in 2024, reflecting higher operating expenses.Total Operating Expenses: Operating expenses increased to $1,113,864 due to higher accounting, research and development, and legal fees. Business Highlights Acquisition of Preclinical Drug Candidate Assets: The company acquired five preclinical drug candidate assets through an Exchange Agreement with Alterola Biotech Inc. These assets expand the company's pipeline into multiple therapeutic areas beyond its existing target markets, supported by an intellectual property portfolio.New Product Development - PHYX-001: PHYX-001 is a Kv7.2/7.3 agonist for epilepsy and mood disorders, sharing a mechanism of action with compounds in late-stage development. The intellectual property includes two patent families, providing a substantial runway for development.New Product Development - PHYX-002: PHYX-002 is a cannabinoid-based therapeutic with potential applications in epilepsy, schizophrenia, autism spectrum disorder, anxiety, depression, and cardiovascular disorders. The program aims to develop a product with improved potency and lower dosing requirements.New Product Development - PHYX-003: PHYX-003 is an anti-obesity candidate in the preclinical stage. New intellectual property is being generated around this program, indicating ongoing development efforts.Restructuring Plan: The company approved a restructuring plan to transition to a virtual operating model, focusing capital on high-priority clinical programs. This plan aims to reduce annualized operating expenses by approximately $8 million.Future Outlook: The company anticipates further losses as it continues to develop its business. It plans to seek regulatory approvals for product candidates that successfully complete clinical trials and to discover and develop additional product candidates, either internally or through partnerships.SEC Filing: Protagenic Therapeutics, Inc.\new [ PTIX ] - 10-Q - Nov. 26, 2025