What drove the surge in operating profit for Q3 2024?

The surge in operating profit for Q3 2024 can be attributed to several key factors: 1. **Strategic Alternatives Exploration**: Portage Biotech is actively exploring strategic alternatives, which may include finding a partner for its assets or a sale of the company. This strategic positioning could have led to a reevaluation of the company's operations, potentially resulting in more efficient management and reduced costs. 2. **Clinical Trial Costs Reduction**: The company has reduced clinical trial costs, which has led to a decrease in research and development (R&D) expenses. This reduction in costs, coupled with a decrease in general and administrative (G&A) expenses, has contributed to the improvement in operating profit. 3. **Financial Discipline**: Portage Biotech has demonstrated financial discipline, as evidenced by a decrease in R&D costs, which has significantly impacted the operating profit. This reduction is primarily due to the winding down of clinical trial costs, which has resulted in a more streamlined and cost-effective operation. In conclusion, the surge in operating profit for Q3 2024 can be attributed to a combination of strategic initiatives, cost management, and financial discipline. These factors have collectively contributed to the company's improved operating performance during the quarter.