Protagenic Therapeutics (PTIX) Stock Soars 240% On Phytanix Merger

Shares of Protagenic Therapeutics Inc (NASDAQ:PTIX) surged 306% to $12.32 Monday morning following news of a definitive all-stock merger agreement with Phytanix Bio.

What To Know: The combined company, to be named Phytanix, will focus on treatments for central nervous system and stress-related disorders, boasting five preclinical assets and one clinical-stage peptide (PT-00114) already in the BLA pathway.

Phytanix's pipeline includes PHYX-001, a potassium channel modulator akin to XEN1101, and cannabinoid- and stilbenoid-based compounds targeting CNS, cardiometabolic, and anticonvulsant indications.

Under the deal, Phytanix shareholders received a mix of Protagenic common and preferred shares, plus warrants, in exchange for their equity. Post-merger, Phytanix shareholders will own 65% of the combined entity on a fully diluted basis.

The transaction closed May 16, with share conversions subject to Nasdaq stockholder approval.

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How To Buy PTIX Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Protagenic Therapeutics’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, PTIX has a 52-week high of $26.18 and a 52-week low of $2.35.