Protagenic Therapeutics Shares Double After Buyout Offer From Phytanix Bio

Dow Jones

May 19, 2025

By Chris Wack

Shares of Protagenic Therapeutics doubled after it agreed to be bought by Phytanix Bio in an all-stock transaction.

The company's stock was 133% higher, at $7.07, in morning trade, but still down 67% in the past 12 months.

The combined entity will be called Phytanix Inc.

As calculated on a fully diluted basis, Protagenic shareholders post-combination will own 35% of the new company, and Phytanix Bio stockholders will own 65% of the company.

Phytanix Bio is a pharmaceutical company specializing in the development of medicines manufactured from cannabinoid and cannabinoid-like molecules.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

May 19, 2025 10:06 ET (14:06 GMT)

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