Thursday, August 11, 2016

Protagonist Therapeutics Debuts In IPO

Milpitas-based biopharamceuticals developer Protagonist Therapeutics, which is developing peptide-based biopharmaceuticals, has raised $90M in its IPO, selling 7,500,000 shares of its common stock at $12.00 per share. The company is now trading on the NASDAQ GLobal Market as PTGX. The company was down slightly in morning trading, near $11.65 per share. Protagonist was backed by Canaan Partners, Adage Capital Management, RA Capital Management and Foresite Capital, Johnson & Johnson Innovation - JJDC, Lilly Ventures, Pharmstandard International, and Starfish Ventures.