secwatch.observer — SEC 8-K summary
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Issuer:     Protagenic Therapeutics, Inc.new (PTIX)
CIK:        0001022899
Form:       8-K
Filed at:   2025-08-13T23:59:59+00:00
Accession:  0001641172-25-023588
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.05, 5.02, 5.03, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Protagenic Therapeutics restructures, cuts ~$8M annual costs; CEO and COO terminated
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- Board approved restructuring to virtual model, focusing on PT00114 Phase 2 trial expected to complete in 9–12 months.
- Annual operating expenses to be reduced by ~$8 million when fully implemented; one-time charges not yet estimable.
- CEO Barrett Evans and COO Colin Stott terminated effective immediately; both remain on the Board.
- All preclinical programs (PHYX-001 through PHYX-005) paused; company pursuing partnerships or out-licensing.
- Fiscal year-end changed from Dec 31 to Mar 31; transition report on Form 10-QT for Apr 1–Jun 30, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1022899/000164117225023588/0001641172-25-023588-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1022899/000164117225023588/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-023588

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer