I'm LongbridgeAI, I can summarize articles.Protagenic Therapeutics reported a net income of $1.37M and EPS of $0.59 for FY2026, reversing a prior-year loss due to a $7.31M gain on subsidiary disposal. The company is focusing on PT00114 development, implemented cost-cutting measures reducing expenses by ~$8M, and lost its Nasdaq listing, now trading on OTCQB. Cash reserves are expected to last only through Q3 2026, necessitating additional capital.
Protagenic Therapeutics reported net income of $1.37M for the year ended March 31, 2026, versus a loss of $(3.59M) in the prior year, driven largely by a $7.31M gain on disposal of a subsidiary. Diluted earnings per share were $0.59 for FY 2026 compared with $(0.67) in FY 2025.
Financial Highlights
- Net income was $1.37M for the year ended Mar 31, 2026, versus a $(3.59M) loss for the year ended Mar 31, 2025 (turnaround driven by $7.31M gain on disposal of subsidiary).
- Diluted earnings per share were $0.59 for the year ended Mar 31, 2026, versus $(0.67) for the year ended Mar 31, 2025.
Business Highlights
- Clinical program focus: The company is prioritizing development of PT00114, having completed Phase I dosing and planning Phase Ib/IIa milestones through 2027.
- Operational restructuring: Management implemented cost-cutting and moved to a virtual operating model, reducing annualized expenses by roughly $8M and concentrating resources on the lead program.
- Pipeline change and unwind: Protagenic briefly acquired five preclinical assets via a merger with Phytanix, then unwound the transaction and returned the assets to the sellers.
- Liquidity runway: Cash is expected to fund operations only through Q3 2026, creating an urgent need for additional capital or strategic partnerships.
- Regulatory and listing status: The company is refiling an IND for PT00114; its Nasdaq listing was lost and shares now trade on the OTCQB, which may affect market access and liquidity.
Original SEC Filing: Protagenic Therapeutics, Inc.\new [ PTIX ] - 10-K - Aug. 14, 2026