Protagenic swings to FY26 net income of $1.37 million; operating expenses rise 74% to $4.5 million
PTIX•PTIX•PTIX•PTIX•Protagenic posted GAAP net income of $1.37 million, swinging from a net loss a year earlier.
Pipeline reset followed an unwind of the Phytanix Bio reverse merger; the company paid $300,000 at closing plus $10,000 later.
Management sees cash funding operations until about the end of Q3 2026; PT00114 timelines target Phase Ib in Q4 2026.
Total operating expenses rose 74% to $4.5 million, led by higher R&D spending and legal fees.
Net cash used in operating activities widened 59% to $2.81 million; cash was $1.51 million with working capital of $511,107.
