The biopharmaceutical firm Protagenic Therapeutics Inc (NASDAQ:PTIX) has been in focus among investors during the premarket trading period and is already up by as much as 8% at the time of writing.
There has been no fresh news about the company but earlier on this week Protagenic announced its financial results for the second fiscal quarter that ended on June 30, 2011. In light of the gains made by the stock in the premarket trading period, it might be a good time to take a look at the company’s performance in the second quarter.
Two of the key highlights for Protagenic during the second quarter were the closing of a public offering worth as much as $13.2 million and the uplisting to the NASDAQ Capital Market.
On the other hand, it should be noted that the company suffered a net loss of $1.5 million in the quarter. In the prior year period, the net losses had been $0.6 million. The research and development expenses remained flat at around $0.1 million. However, administrative and general expenses went up from around $0.4 million in the prior year period to $1.2 million in Q2 2021. It might be a good time for investors to start tracking the stock.