Protagonist Therapeutics Secures $115M Via Equity Raise

Protagonist Therapeutics Inc PTGX priced its previously announced underwritten public offering of around 3 million common shares to raise gross proceeds of approximately $115 million.
The offering was upsized from $100 million announced earlier.
The offer price of $37.75/share represents a marginal discount of 1% from the last close price of $38.18 on Tuesday.
Underwriters have an option to purchase up to 456k additional shares.
J.P. Morgan Securities LLC, Jefferies LLC, and Piper Sandler are acting as joint book-running managers for the offering. JMP Securities LLC and H.C. Wainwright & Co., LLC are acting as co-lead managers for the offering.
The offering will close by June 18.
Protagonist intends to use the proceeds to fund the R&D of clinical programs, including PTG-300, PN-943, PTG-200, PN-235, and PN-232, as well as working capital and general corporate purposes.
See the Offer Prospectus here.
Price Action: PTGX shares closed at $38.15 on Tuesday.

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