Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Protagonist Therapeutics, Inc. (“Protagonist” or the “Company”) (NASDAQ: PTGX) on behalf of Protagonist stockholders. Our investigation concerns whether Protagonist has violated the federal securities laws and/or engaged in other unlawful business practices.
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Protagonist Therapeutics is a biopharmaceutical company with multiple peptide-based investigational new chemical entities in different stages of development, all derived from its proprietary technology platform. Protagonist’s pipeline includes rusfertide (PTG-300).
On September 17, 2021, Protagonist issued a press release “announc[ing] the receipt of a verbal communication from the U.S. Food and Drug Administration (FDA) that Protagonist's clinical studies for rusfertide, an investigational product candidate currently in development, have been placed on a clinical hold.” The press release further stated that “[t]he clinical hold follows Protagonist’s notification to the FDA of a recent non-clinical finding in a 26-week rasH2 transgenic mouse model study. The rasH2 model is designed to detect signals related to tumorigenicity, and benign and malignant subcutaneous skin tumors were observed in this study.”
Following this news, Protagonist’s stock price fell $28.60 per share, or 62%, to close at $17.53 per share on September 17, 2021.
If you purchased or otherwise acquired Protagonist shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.