We provide the latest news
from the world of economics and finance
(RTTNews) - Portage Biotech Inc. (PRTG) announced the outcome from the company's review of its pipeline in the context of the current capital raising market conditions. The company is implementing a cost-savings plan that includes a reduction in internal and contracted workforce, with remaining employees focusing primarily on pursuing the adenosine clinical programs. After a review of funding requirements, the Board has made the decision to pause further drug development in the PORT-2 iNKT program.
Ian Walters, CEO, said: "The company will evaluate a range of potential strategic options which may include among other things, finding a partner for our iNKT program or other corporate transactions."
Shares of Portage Biotech are up 16% in pre-market trade on Thursday.
For More Such Health News, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
© 2024 Lime Trading (CY) Ltd
Lime Trading (CY) Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission in accordance with license No.281/15 issued on 25/09/2015. The "Just2Trade" trademark is owned by LimeTrading (CY) Ltd.
Registration Number: HE 341520
Address: Lime Trading (CY) Ltd
Magnum Business Center, Office 4B, Spyrou Kyprianou Avenue 78
Limassol 3076, Cyprus
Disclaimer:
All promotions, materials and information of this website may have applied conditions. Please contact the Company for further details
Trading on financial markets carries risks. The value of the investments can both increase and decrease and the investors may lose all their investment capital. In case of a leveraged product, the loss may be more than the initial capital invested. Detailed information on risks associated with trading on financial markets can be found in General Terms and Conditions for the Provision of Investment Services.