NEWARK, Calif., Oct. 11, 2017 /PRNewswire/ -- Protagonist
Therapeutics, Inc. (Nasdaq: PTGX), a biopharmaceutical company that discovers and develops novel peptide-based drugs, announced
today that it has priced an underwritten public offering of 3,530,000 shares of its common stock at a price to the public of
$17.00 per share. The gross proceeds to Protagonist from the offering, before underwriting
discounts and commissions and offering costs, are expected to be $60,010,000. Protagonist has
granted the underwriters a 30-day option to purchase up to an additional 529,500 shares of common stock. All of the shares to be
sold in the offering are being sold by Protagonist. The offering is expected to close on or about October
16, 2017, subject to satisfaction of customary closing conditions. Protagonist intends to use the net proceeds from the
proposed offering to fund clinical research and development of the company's three therapeutic candidates, PTG-100, PTG-200, and
PTG-300, including the completion of ongoing clinical trials, discovery programs and platform development, and for working
capital and general corporate purposes.
Leerink Partners LLC and Barclays Capital Inc. are acting as joint lead book-running managers for the offering. BMO
Capital Markets Corp. and Stifel are acting as passive joint book-running managers for the offering. BTIG LLC and Nomura
Securities International, Inc. are acting as co-lead managers for the offering.
The securities described above are being offering by Protagonist pursuant to a shelf registration statement, including a base
prospectus, filed by Protagonist with the Securities and Exchange Commission (SEC) and declared effective by the SEC on
October 5, 2017. A preliminary prospectus supplement and the accompanying prospectus relating to
this offering has been filed with the SEC and a final prospectus supplement and accompanying prospected related to the offering
will be filed with the SEC and will be available on the SEC's website at www.sec.gov. The offering is being made only by means of a prospectus supplement and accompanying prospectus. When
available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained
from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by email at syndicate@leerink.com, or by telephone at (800) 808-7525, ext. 6132; from Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847,
email: Barclaysprospectus@broadridge.com;
from BMO Capital Markets Corp., by telephone at 800-414-3627 or by email at bmoprospectus@bmo.com ; or from Stifel, Nicolaus & Company,
Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at 415-364-2720 or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale
of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
About Protagonist Therapeutics
Protagonist is a clinical development-stage biopharmaceutical company that utilizes a proprietary technology platform to
discover and develop novel peptide-based drugs to address significant unmet medical needs. Its primary focus is on developing
potential first-in-class oral targeted therapy-based peptide drugs that work by blocking biological pathways that are currently
targeted by marketed injectable antibody drugs. Protagonist's lead peptide candidates, PTG-100 and PTG-200, are based on this
approach. PTG-100 is currently in Phase 2b clinical trials for moderate-to-severe ulcerative colitis, and the company plans to
initiate clinical trials of PTG-200 in 2017 as a potential treatment for Crohn's disease. The company recently entered into
a worldwide collaboration with Janssen Biotech, Inc. to co-develop and commercialize PTG-200. Protagonist is also
developing an injectable hepcidin mimetic, PTG-300, for the treatment of rare diseases such as beta-thalassemia and
myelodysplastic syndromes, currently in a Phase 1 clinical trial.
Protagonist is headquartered in Newark, California with pre-clinical and clinical staff in
California, and discovery operations both in California and
Brisbane, Queensland, Australia.
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 completion of the proposed public offering. In some cases, you can identify these statements
by forward-looking words such as "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, the satisfaction of customary closing conditions and the anticipated use of proceeds. We discuss many of these
risks in greater detail under the heading "Risk Factors" contained in the preliminary prospectus supplement, and accompanying
prospectus, related to the offering filed with the SEC on October 11, 2017, and other filings with
the SEC. 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.
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SOURCE Protagonist Therapeutics, Inc.