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Portage Biotech | 6-K: Report of foreign private issuer (related to financial reporting)

Portage Biotech | 6-K: Report of foreign private issuer (related to financial reporting)

Portage Biotech | 6-K：外国发行人报告（业绩相关）
美股SEC公告 ·  2024/08/27 05:20

Moomoo AI 已提取核心信息

Portage Biotech has made the strategic decision to discontinue its sponsored iNKT trial and pause further patient accrual in its adenosine program due to funding constraints. The company reported $3.3 million in cash as of June 30, 2024, which is only expected to fund operations through December 2024, raising substantial going concern doubts.The company is actively exploring strategic alternatives, including potential asset partnerships, company sale, merger, restructuring, or additional financing. For Q1 FY2025, Portage reported a net loss of $1.7 million, compared to $5.9 million in Q1 FY2024, with operating expenses decreasing to $2.8 million from $5.0 million year-over-year due to reduced clinical trial activities.The PORT-3 investigator trial continues without company funding, while existing patients in the ADPORT-601 study will continue until disease progression. The company completed a $6 million registered direct offering in October 2023, issuing shares and warrants to strengthen its cash position.
Portage Biotech has made the strategic decision to discontinue its sponsored iNKT trial and pause further patient accrual in its adenosine program due to funding constraints. The company reported $3.3 million in cash as of June 30, 2024, which is only expected to fund operations through December 2024, raising substantial going concern doubts.The company is actively exploring strategic alternatives, including potential asset partnerships, company sale, merger, restructuring, or additional financing. For Q1 FY2025, Portage reported a net loss of $1.7 million, compared to $5.9 million in Q1 FY2024, with operating expenses decreasing to $2.8 million from $5.0 million year-over-year due to reduced clinical trial activities.The PORT-3 investigator trial continues without company funding, while existing patients in the ADPORT-601 study will continue until disease progression. The company completed a $6 million registered direct offering in October 2023, issuing shares and warrants to strengthen its cash position.
Portage Biotech做出了战略决定，因资金限制将中止其资助的iNKt试验，并暂停其腺苷项目的进一步患者招募。截止2024年6月30日，公司报告现金为330万，只能维持运营到2024年12月，这引发了重大的持续经营疑虑。公司正在积极探索战略选择，包括潜在的资产合作、公司出售、合并、重组或额外融资。对于2025财年第一季度，Portage报告净亏损170万，而2024财年第一季度亏损为590万，营业费用由于临床试验活动减少，从500万降至280万。PORt-3研究者试验在没有公司资助的情况下继续进行，而ADPORt-601研究中的现有患者将继续直至病情进展。公司在2023年10月完成了600万的注册直接发行，发行股份和Warrants以加强其现金状况。
Portage Biotech做出了战略决定，因资金限制将中止其资助的iNKt试验，并暂停其腺苷项目的进一步患者招募。截止2024年6月30日，公司报告现金为330万，只能维持运营到2024年12月，这引发了重大的持续经营疑虑。公司正在积极探索战略选择，包括潜在的资产合作、公司出售、合并、重组或额外融资。对于2025财年第一季度，Portage报告净亏损170万，而2024财年第一季度亏损为590万，营业费用由于临床试验活动减少，从500万降至280万。PORt-3研究者试验在没有公司资助的情况下继续进行，而ADPORt-601研究中的现有患者将继续直至病情进展。公司在2023年10月完成了600万的注册直接发行，发行股份和Warrants以加强其现金状况。
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