Protagenic Therapeutics Reports $1.44 Million Net Loss for Fiscal Quarter Ending March 31, 2025

Protagenic Therapeutics, Inc. reported its financial results for the fiscal quarter ending March 31, 2025, revealing a net loss of $1.44 million, a decrease from a loss of $1.72 million during the same period in 2024. The company’s total operating and administrative expenses for the quarter were $1.45 million, down from $1.74 million year-over-year. This reduction was primarily driven by a significant decrease in research and development expenses, which fell to $880,372 from $1.46 million, attributed to changes in the company’s research stage and adjustments in outsourced research partnerships. However, general and administrative expenses increased to $567,736, reflecting higher stock compensation costs and legal expenses.

As of March 31, 2025, Protagenic's total assets were reported at $988,650, a decline from $1.96 million at the end of 2024. The company’s cash reserves also decreased significantly, from $1.84 million to $872,960. Current liabilities rose to $1.08 million, up from $942,759, indicating a growing financial strain. The company’s accumulated deficit increased to $37.74 million, compared to $36.30 million at the end of the previous fiscal year. The increase in liabilities and the decrease in cash reserves have raised concerns about the company's ability to continue operations without additional financing.

In terms of strategic developments, Protagenic executed a 1-for-14 reverse stock split on May 5, 2025, aimed at increasing its stock price to comply with Nasdaq listing requirements. The company has also engaged in equity financing efforts to bolster its capital, having raised $102,519 from the issuance of common stock during the quarter. The company’s employee headcount remains stable, with no significant changes reported in staffing levels.

Looking ahead, Protagenic anticipates continued losses as it progresses with its clinical trials and product development activities. The company has indicated that it will need to secure additional financing by the third quarter of 2025 to sustain operations. The ongoing Phase I/IIa clinical trial for its lead compound, PT00114, is a key focus, with the company aiming to address regulatory questions in the U.S. and Germany. The management has expressed optimism about the potential of PT00114 to treat various neuropsychiatric conditions, although the path to commercialization remains contingent on successful trial outcomes and regulatory approvals.