In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Protagonist Therapeutics Inc. (NASDAQ:PTGX) reported that Adage Capital Management has picked up 2,056,076 of common stock as of 2017-06-01.
The acquisition brings the aggregate amount owned by Adage Capital Management to a total of 2,056,076 representing less than 12.2% stake in the company.
For those not familiar with the company, Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs. PTG-100 is an oral, alpha-4-beta-7 (a4b7) integrin-specific antagonist peptide product candidate, which has completed a Phase I clinical trial in normal healthy volunteers (NHVs). PTG-100 is being developed for treatment of moderate-to-severe ulcerative colitis (UC). PTG-200 is an oral Interleukin-23 receptor (IL-23R) antagonist being developed for moderate-to-severe Crohn’s disease (CD). PTG-200 is in investigational new drug (IND) enabling studies. PTG-300 is an injectable hepcidin mimetic for treatment of iron overload related rare diseases.
A glance at Protagonist Therapeutics Inc. (NASDAQ:PTGX)’s key stats reveals a current market capitalization of 176.25 Million based on 16.86 Million shares outstanding and a price at last close of $10.76 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-08-16, Johnson picked up 583,333 at a purchase price of $12.00. This brings their total holding to 2,449,183 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Protagonist Therapeutics Inc. (NASDAQ:PTGX) as things move forward to see if its progress aligns with these transactions.
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