Protagonist Therapeutics Announces Proposed Public Offering of Common Stock

NEWARK, Calif., Oct. 11, 2017 /PRNewswire/ -- Protagonist Therapeutics, Inc. (Nasdaq: PTGX), a biopharmaceutical company that discovers and develops novel peptide-based drugs,  announced today that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. Protagonist also expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares of common stock sold in connection with the offering. All of the shares to be sold in the offering are to be sold by Protagonist. The company intends to use the net proceeds from the proposed offering to fund clinical research and development of the company's three therapeutic candidates, PTG-100, PTG-200, and PTG-300, including the completion of ongoing clinical trials, discovery programs and platform development, and for working capital and general corporate purposes.

Leerink Partners LLC and Barclays Capital Inc. are acting as joint lead book-running managers for the offering. BMO Capital Markets Corp. and Stifel, Nicolaus & Company are acting as passive joint book-running managers for the offering. BTIG and Nomura are acting as co-lead managers for the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The securities described above are being offering by Protagonist pursuant to a shelf registration statement, including a base prospectus, filed by Protagonist with the Securities and Exchange Commission (SEC) and declared effective by the SEC on October 5, 2017. A preliminary prospectus supplement and the accompanying prospects related to the offering is being filed with the SEC and will be available at the SEC's website located at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by email at [email protected], or by telephone at (800) 808-7525, ext. 6132; or from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, email: [email protected].   

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Protagonist Therapeutics

Protagonist is a clinical development-stage biopharmaceutical company that utilizes a proprietary technology platform to discover and develop novel peptide-based drugs to address significant unmet medical needs. Its primary focus is on developing potential first-in-class oral targeted therapy-based peptide drugs that work by blocking biological pathways that are currently targeted by marketed injectable antibody drugs. Protagonist's lead peptide candidates, PTG-100 and PTG-200, are based on this approach. PTG-100 is currently in Phase 2b clinical trials for moderate-to-severe ulcerative colitis, and the company plans to initiate clinical trials of PTG-200 in 2017 as a potential treatment for Crohn's disease.  The company recently entered into a worldwide collaboration with Janssen Biotech, Inc. to co-develop and commercialize PTG-200.  Protagonist is also developing an injectable hepcidin mimetic, PTG-300, for the treatment of rare diseases such as beta-thalassemia and myelodysplastic syndromes, currently in a Phase 1 clinical trial.

Protagonist is headquartered in Newark, California with pre-clinical and clinical staff in California, and discovery operations both in California and Brisbane, Queensland, Australia. For further information, please visit http://www.protagonist-inc.com.

SOURCE Protagonist Therapeutics, Inc.

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