Protagenic 2026 Q1 Earnings Deepened Losses with 2183.3% Wider Net Loss

Protagenic (PTIX) reported its Q1 2026 earnings on September 10, 2025, with results missing on both the top and bottom lines. The company posted no revenue for the quarter, consistent with the prior year, and saw its net loss widen to $5.06 million, a 1459.3% increase from the previous year’s $-324,355. These results fall in line with the company’s long-term trend of sustained losses, with no improvement in profitability. Protagenic also provided full-year guidance, indicating continued net losses and no near-term revenue.

Revenue

The total revenue for Protagenic remained unchanged at $0 for Q1 2026 compared to Q1 2025, reflecting the company’s continued reliance on early-stage R&D and absence of commercialized products or revenue-generating activities.

Earnings/Net Income

Protagenic’s losses widened significantly in Q1 2026, with a net loss of $5.06 million, representing a 1459.3% increase from $-324,355 in the prior year period. On a per-share basis, the loss expanded from $0.06 to $1.37, a 2183.3% deterioration. The company has now recorded losses for seven consecutive years during the corresponding quarter, underscoring the ongoing financial challenges it faces.

Price Action

The stock price of Protagenic edged up 0.70% during the latest trading day, but declined sharply by 12.27% during the most recent full trading week. However, the stock gained 1.06% month-to-date, reflecting mixed investor sentiment amid the earnings miss and lack of commercial progress.

Post-Earnings Price Action Review

Following the earnings release, Protagenic’s shares remained under pressure, weighed down by the significant deterioration in its financial performance. The stock’s recent volatility—marked by a 12.27% weekly decline—reflects the broader challenges in gaining traction with investors, despite the company’s strategic focus on R&D. The lack of revenue generation and deepening losses continue to cast a shadow over the stock’s near-term outlook, though the modest month-to-date gain suggests some level of cautious optimism remains among investors.

CEO Commentary

John L. Miller, CEO of Protagenic Therapeutics, emphasized the company’s commitment to advancing its pipeline of therapies targeting stress-related neuropsychiatric and mood disorders. He noted that while the business remains in the early stages of clinical development, the team is prioritizing strategic investments in R&D to position the company for long-term growth. Miller acknowledged the first-quarter results as a continuation of operational and financial challenges but expressed cautious optimism about the potential of Protagenic’s novel therapeutic approaches and the strength of its scientific foundation.

Guidance

Protagenic expects to continue operating with no revenue generation in the near term due to the early-stage nature of its therapeutic pipeline. The company anticipates maintaining a net loss in the range of $4.5 million to $5.5 million for the remainder of 2026, driven by ongoing R&D expenditures. Capital expenditures are expected to remain limited and fully funded through existing cash reserves. The company also aims to advance at least one key clinical candidate into Phase II trials by year-end, though it provided no guidance on future revenue expectations.

Additional News

On May 16, 2025, Protagenic completed a transformative all-stock merger with Phytanix Bio, a private biotech company, and the combined entity now operates as Phytanix Ltd. The merger created a diversified biotech platform with one clinical-stage drug candidate and five preclinical assets, covering anxiety, depression, epilepsy, obesity, and other CNS and metabolic conditions. The deal, which saw Phytanix shareholders take a 65% stake in the new entity, triggered a 306% intraday surge in PTIX shares, marking one of the most dramatic moves in small-cap biotech. The merger was driven by the strategic synergy between Protagenic’s peptide-based platform and Phytanix’s novel cannabinoid and metabolic disease treatments. With additional capital raised from warrant exercises and a de-risked asset base, the newly formed Phytanix Ltd. is positioned for growth and multiple development milestones in 2025.