Protagenic Therapeutics Approves Restructuring Plan on August 8- SEC Filing

Aug 13 (Reuters) - Protagenic Therapeutics Inc PTIX.O:

• PROTAGENIC THERAPEUTICS INC - ON AUGUST 8 APPROVES FOCUSED RESTRUCTURING PLAN - SEC FILING

• PROTAGENIC THERAPEUTICS INC: RESTRUCTURING PLAN TO TRANSITION TO VIRTUAL OPERATING MODEL, CONCENTRATE CAPITAL ON HIGHEST-PRIORITY CLINICAL PROGRAM(S)

• PROTAGENIC THERAPEUTICS INC: HAS TEMPORARILY SUSPENDED EXPENDITURES RELATED TO PRECLINICAL PROGRAMS

• PROTAGENIC THERAPEUTICS INC: INITIATED PROCESS TO EVALUATE STRATEGIC ALTERNATIVES FOR THOSE PROGRAMS, INCLUDING PARTNERSHIPS AND/OR OUT-LICENSING

• PROTAGENIC THERAPEUTICS INC: REDUCING OPERATING EXPENSES, OVERHEAD, AND HEADCOUNT PRIMARILY ASSOCIATED WITH PRECLINICAL ACTIVITIES

• PROTAGENIC THERAPEUTICS : WHEN FULLY IMPLEMENTED, RESTRUCTURING PLAN IS EXPECTED TO REDUCE ANNUALIZED OPERATING EXPENSES BY ABOUT $8 MILLION

• PROTAGENIC THERAPEUTICS : TERMINATED EMPLOYMENT OF BARRETT EVANS AS CEO AND PRESIDENT AND COLIN STOTT AS CHIEF OPERATING OFFICER

• PROTAGENIC THERAPEUTICS INC: APPROVED A CHANGE IN CO'S FISCAL YEAR-END FROM DECEMBER 31 TO MARCH 31, EFFECTIVE IMMEDIATELY

• PROTAGENIC THERAPEUTICS:ALL PRECLINICAL PROGRAMS ORIGINATED WITH FORMER PHYTANIX BIO (PHYX-001,PHYX-002,PHYX-003,PHYX-004, PHYX-005) HAVE BEEN PAUSED

Source text: [ID:n0001641172-25-023588]