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Protagonist Therapeutics Prices 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 has priced an underwritten public offering of 3,530,000 shares of its common stock at a price to the public of $17.00 per share. The gross proceeds to Protagonist from the offering, before underwriting discounts and commissions and offering costs, are expected to be $60,010,000. Protagonist has granted the underwriters a 30-day option to purchase up to an additional 529,500 shares of common stock. All of the shares to be sold in the offering are being sold by Protagonist. The offering is expected to close on or about October 16, 2017, subject to satisfaction of customary closing conditions. Protagonist 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.

Protagonist Therapeutics, Inc. (PRNewsFoto/Protagonist Therapeutics, Inc.)

Leerink Partners LLC and Barclays Capital Inc. are acting as joint lead book-running managers for the offering.  BMO Capital Markets Corp. and Stifel are acting as passive joint book-running managers for the offering. BTIG LLC and Nomura Securities International, Inc. are acting as co-lead managers for 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 prospectus relating to this offering has been filed with the SEC and a final prospectus supplement and accompanying prospected related to the offering will be filed with the SEC and will be available on the SEC's website at The offering is being made only by means of a prospectus supplement and accompanying prospectus. When available, copies of the final 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, or by telephone at (800) 808-7525, ext. 6132; from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, email:; from BMO Capital Markets Corp., by telephone at 800-414-3627 or by email at; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at 415-364-2720 or by email at  

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.

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding our intentions or current expectations concerning, among other things, the completion of the proposed public offering. In some cases, you can identify these statements by forward-looking words such as "believe," "may," "will," "expect," or the negative or plural of these words or similar expressions.  Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, the satisfaction of customary closing conditions and the anticipated use of proceeds.  We discuss many of these risks in greater detail under the heading "Risk Factors" contained in the preliminary prospectus supplement, and accompanying prospectus, related to the offering filed with the SEC on October 11, 2017, and other filings with the SEC. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release. 


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SOURCE Protagonist Therapeutics, Inc.

Joan Kureczka, Kureczka/Martin Associates, Tel: +1 415-821-2413, Email:, For Investors: The Trout Group, Marcy Nanus, Tel: +1 646-378-2927, Email: