Why Is Portage Biotech Stock Skyrocketing Friday?

Portage Biotech Inc. (NASDAQ:PRTG) on Thursday presented new preclinical data for PORT-7 (TT-4), a selective Adenosine A2B receptor inhibitor, at the 2025 European Lung Cancer Congress.

The new data demonstrate both single-agent activity for PORT-7 and a dramatic >90% inhibition of tumor growth when PORT-7 was combined with an anti-PD1 antibody in a murine mesothelioma animal model.

Mesothelioma is a rare and aggressive cancer that develops in the thin tissue lining the lungs, abdomen, heart or testicles, strongly linked to asbestos exposure.

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Immunohistochemistry of the tumors revealed a significant infiltration of CD3 and CD45 positive immune effector cells.

According to the company, this is the first report of antitumor activity against mesothelioma using a selective A2B receptor inhibitor.

Portage is making preparations to commence a first-in-human clinical trial with PORT-7.

In parallel, Portage is advancing the dose escalation of PORT-6, a potent and selective inhibitor of the A2A adenosine receptor.

Portage’s plan is to ultimately co-administer PORT-6 with PORT-7 in the ongoing ADPORT-601 trial.

This will mark the first time two highly selective A2A and A2B antagonists are combined in patients to achieve a complete blockade of adenosine-induced immunosuppression in the tumor microenvironment.

This innovative approach is designed to fully neutralize adenosine-mediated immune suppression, enhance antitumor responses and broaden the impact of immunotherapy in solid tumors.

In December, Portage and Immunova LLC agreed to negotiate a definitive option agreement for Immunova to acquire Portage's subsidiary, iOx Therapeutics, Ltd.

iOx specializes in developing liposomal iNKT agonists, with its lead candidate, PORT-2, showing encouraging early clinical results.

PRTG Price Action: Portage Biotech stock is up 102.93% at $9.60 at publication Friday.

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