SCHEDULE: Deep Track Capital Discloses 2.76% Stake in Protagonist
Beneficial Ownership Report
Deep Track Capital, LP, along with Deep Track Biotechnology Master Fund, Ltd. and David Kroin, reported a 2.76% beneficial ownership stake in Protagonist Therapeutics, Inc. as of September 30, 2025.
Summary
- Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin collectively reported beneficial ownership of 1,715,691 shares of Protagonist Therapeutics, Inc. Common Stock.
- This ownership represents 2.76% of Protagonist Therapeutics, Inc.'s outstanding Common Stock.
- The percentage of class was calculated based on 62,211,318 Common Stock outstanding as of July 31, 2025, as reported in the issuer's 10-Q filed on August 6, 2025.
- The reporting persons, including Deep Track Capital, LP (a Delaware entity), Deep Track Biotechnology Master Fund, Ltd. (Cayman Islands), and David Kroin (United States citizen), share both voting and dispositive power over all 1,715,691 beneficially owned shares.
- This filing is an Amendment No. 1 to a Schedule 13G, indicating a passive investment position.
- The event date requiring this filing was September 30, 2025.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would significantly alter sentiment positively or negatively.
Positives
- The presence of institutional investor Deep Track Capital, LP, and its related entities, holding a stake in Protagonist Therapeutics, Inc., indicates institutional interest in the company.
Negatives
- No specific negative information is disclosed in this beneficial ownership report.
Risks
- No specific risks are disclosed in this beneficial ownership report.
Future Outlook
This filing does not contain any forward-looking statements or guidance.
Industry Context
This filing reflects an institutional investment fund's position in a biotechnology company, a common occurrence in the sector where specialized funds often take stakes in promising firms.
Stakeholder Impact
- Shareholders: The disclosure of an institutional investor's stake may be viewed positively, indicating confidence in the company, though a 2.76% stake is not typically considered a controlling or highly influential position.
Key Dates
| Date | Description |
|---|---|
| 2025-07-31 | Date for the calculation of outstanding Common Stock (62,211,318 shares) used to determine percentage of class. |
| 2025-08-06 | Date Protagonist Therapeutics, Inc. filed its 10-Q with the SEC, which provided the outstanding share count. |
| 2025-09-30 | Date of the event requiring the filing of this Schedule 13G Amendment No. 1, reflecting the reported beneficial ownership. |
| 2025-11-14 | Date the Schedule 13G Amendment No. 1 was signed by the reporting persons. |
Keywords
Protagonist Therapeutics, Deep Track Capital, Deep Track Biotechnology Master Fund, David Kroin, Common Stock, Beneficial Ownership, SEC Filing, Schedule 13G, Biotechnology, Investment Fund
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