Protagenic Therapeutics Raises $3.1 Million from Warrant Activity

Protagenic Therapeutics, Inc. (Nasdaq: PTIX) announced it has secured $3.1 million in cash over the past four trading days through warrant exchanges and exercises. The funds will support working capital and development of the company’s peptide-based drug candidates targeting stress-related and central nervous system disorders.

This capital raise follows Protagenic’s previously announced business combination with Phytanix Bio Inc. on May 19, 2025. The combined entity now oversees six complementary drug programs addressing conditions such as stress disorders, epilepsy, and obesity.

Protagenic specializes in developing peptide therapeutics for stress-related conditions, while Phytanix focuses on cannabinoid-based and cannabinoid-like pharmaceutical innovations.

Protagenic Therapeutics Acquires Phytanix Bio in Share Exchange Deal

Protagenic Therapeutics, Inc. (NASDAQ: PTIX) announced the completion of its acquisition of Phytanix Bio through a share exchange agreement with Alterola Biotech Inc. and EMC2 Capital LLC. The deal includes the issuance of common stock, Series C, C-1, and D convertible preferred shares, and common stock warrants in exchange for 100% of Phytanix's equity.

Barrett Evans has been appointed President and CEO of Protagenic, while Colin Stott becomes COO, and Andrew Slee is promoted to Chief Development Officer. The company plans to seek stockholder approval for the conversion of preferred shares and a Nasdaq-related change of control. Lock-up, support, registration rights, and repurchase agreements were also executed.
Protagenic now reports stockholders’ equity exceeding $2.5 million and intends to file additional financial disclosures within 71 days.