The following is a summary of the Protagenic Therapeutics, Inc. (PTIX) Q4 2023 Earnings Call Transcript:
Financial Performance:
Protagenic Therapeutics reported an increase in Research and Development (R&D) spending to $1.0 million in Q4 2023, a surge of 301% compared to the same period of the previous year.
General and Administrative spending was reduced by 50% to $201,000 in Q4 2023 due to no stock options being issued during the quarter.
The net loss for Q4 amounted to $1.2 million, an increase compared to a net loss of $656,000 in the same quarter of the previous year. The company ended the year with cash and cash equivalents of $4.1 million.
Business Progress:
2023 marked a significant year for Protagenic Therapeutics, witnessing the commencement of their maiden clinical trial of their flagship product PT00114, anticipated to aid millions of patients suffering from depression, chronic anxiety, PTSD, or drug addiction.
The initiation of the first in-human trial of PT00114 has helped transition the company into a clinical stage company.
The focus for 2024 will be to progress their Phase 1 program efficiently and prepare for proof-of-concept efficacy studies in anxiety, depression, and other stress-related conditions.
More details: Protagenic Therapeutics IR
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