Protagonist raises $60M in follow-on

On Oct. 11, Protagonist Therapeutics Inc. (NASDAQ:PTGX) raised $60 million through the sale of 3.5 million shares at $17 in a follow-on underwritten by Leerink, Barclays, BMO Capital Markets, Stifel, BTIG and Nomura. The price is a 14% discount to its close of $19.81 on Oct. 11, when it proposed then priced the offering after market hours.

Protagonist expects results early next year from an ongoing Phase IIb trial of PTG-100 to treat ulcerative colitis. The therapy is an integrin alpha(4)beta(7) peptide antagonist...