NEWARK, CA / ACCESSWIRE / April 4, 2023 / Protagonist Therapeutics (NASDAQ:PTGX) ("Protagonist" or the "Company") today announced the pricing of its previously announced underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $20.00 per share. Gross proceeds to Protagonist from the offering are expected to be $100 million, before deducting underwriting discounts and commissions and offering expenses. All of the securities are being offered by Protagonist. In connection with this offering, Protagonist has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.

The offering is expected to close on or about April 10, 2023, subject to customary closing conditions.

Protagonist intends to use the net proceeds from this offering to fund continued clinical development and pre-commercialization activities associated with rusfertide and for working capital and general corporate purposes.

J.P. Morgan Securities LLC, Jefferies and Piper Sandler are acting as joint book-running managers for the offering. BTIG and H.C. Wainwright & Co. are acting as lead managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and became effective on August 16, 2022. A final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC. The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained, when available, at the SEC's website at www.sec.gov, or by request to J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 866-803-9204, or by email at prospectus-eq_fi@jpmchase.com; Jefferies LLC (Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022; telephone: 877-821-7388; email: Prospectus_Department@Jefferies.com); or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Protagonist

Protagonist Therapeutics is a biopharmaceutical company that utilized a proprietary technology platform to discover and develop novel peptide-based therapeutics to address significant unmet medical needs and transform existing treatment paradigms for patients. Protagonist is headquartered in Newark, California.

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding our intentions or current expectations concerning, among other things, the underwritten public offering and our expectations with respect to the use of the net proceeds from the underwritten public offering. In some cases, you can identify these statements by forward-looking words such as "anticipate," "believe," "may," "will," "expect," or the negative or plural of these words or similar expressions. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that Protagonist will be able to complete the public offering on the anticipated terms, or at all. Additional information concerning these and other risk factors affecting our business can be found in our periodic filings with the Securities and Exchange Commission, including under the heading "Risk Factors" contained in our most recently filed periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

Contacts

Jami Taylor - j.taylor@ptgx-inc.com

SOURCE: Protagonist Therapeutics, Inc.