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No impact at this time on the listing of the Company’s Ordinary Shares on Nasdaq Company intends to submit to Nasdaq a compliance plan WESTPORT, Conn., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Portage Biotech Inc. (“Portage” or the “Company”) (NASDAQ: PRTG), a clinical-stage immuno-oncology company with a portfolio of novel multi-targeted therapies for use as monotherapy and in combination, announced today that it received written notice (the “Notice”) from The Nasdaq Stock Market, LLC (“Nasdaq”) on December 10, 2024 indicating that the Company was not in compliance with the minimum shareholders’ equity requirement for continued listing on The Nasdaq Capital Market (the “Capital Market”) as set forth in Nasdaq Listing Rule 5550(b)(1) (the “Shareholders’ Equity Requirement”), because the Company’s shareholders’ equity of $695,000 as of September 30, 2024, as reported in the Company’s Report on Form 6-K containing unaudited condensed consolidated interim financial statements for the three and six months ended September 30, 2024, filed with the United States Securities and Exchange Commission (the “SEC”) on November 26, 2024, was below the required minimum of $2.5 million, and because, as of the date of the Notice (and as of the date of this press release), the Company did not meet either of the alternative continued listing standards for the Capital Market, relating to market value of listed securities of at least $35 million or net income from continuing operations of at least $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. The Notice has no effect at this time on the listing of the Company’s ordinary shares (the “Ordinary Shares”), which continue to trade on the Capital Market under the symbol “PRTG”. As indicated in the Notice, the Company has a period of 45 calendar days from the date of the Notice, or until January 24, 2025, to submit to Nasdaq a plan to regain compliance with the Shareholders’ Equity Requirement or achieve compliance with an alternative continued listing standard for the Capital Market (the “Compliance Plan”). If Nasdaq accepts the Compliance Plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice, or until June 8, 2025, to evidence compliance. If Nasdaq does not accept the Compliance Plan, then Nasdaq will provide written notice to the Company that the Ordinary Shares will be subject to delisting. At such time, the Company may appeal the delisting determination to a Nasdaq hearings panel. The Company intends to submit a Compliance Plan by the January 24, 2025 deadline. There can be no assurance that the Company will be able to regain compliance with the Shareholders’ Equity Requirement, achieve compliance with an alternative continued listing standard for the Capital Market or maintain compliance with any other listing requirements under the Nasdaq Listing Rules. About Portage Biotech Inc. Portage is a clinical-stage immuno-oncology company with a portfolio of multi-targeted therapies to extend survival and significantly improve the lives of patients with cancer. The Company has made the decision to discontinue its sponsored trial for its the invariant natural killer T-cell (iNKT) program and pause further patient accrual to its sponsored adenosine trial program (ADPORT-601 trial) for its potentially best-in-class adenosine antagonists PORT-6 (adenosine 2A inhibitor) and PORT-7 (adenosine 2B inhibitor). The Company is exploring strategic alternatives, which may include finding a partner for one or more of its assets, a sale of the company, a merger, restructurings, both in and out of court, a company wind down, further financing efforts or other strategic actions. For more information, please visit www.portagebiotech.com or find us on LinkedIn at Portage Biotech Inc. Forward-Looking Statements This press release contains forward-looking statements, including, but not limited to, statements regarding the Company’s ability to regain compliance with the Shareholders’ Equity Requirement, achieve compliance with an alternative continued listing standard for the Capital Market or maintain compliance with any other listing requirements under the Nasdaq Listing Rules, the Company’s intentions to submit a Compliance Plan by the deadline, and the Company’s intention to take actions to regain compliance with the Shareholders’ Equity Requirement or achieve compliance with an alternative continued listing standard for the Capital Market. The Company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, including the risk that the Company may not meet the Shareholders’ Equity Requirement during any compliance period or in the future, the risk that the Company may not otherwise meet the requirements for continued listing for the Capital Market or maintain compliance with any other listing requirements under the Nasdaq Listing Rules, the risk that Nasdaq may not grant the Company relief from delisting if necessary, the risk that the Company may not ultimately meet applicable Nasdaq requirements if any such relief is necessary, and other factors set forth in “Item 3 – Key Information – Risk Factors” in the Company’s Annual Report on Form 20-F for the year ended March 31, 2024, filed with the SEC on August 14, 2024, and “Business Environment – Risk Factors” in the Company’s Management’s Discussion and Analysis for the Three and Six Months ended September 30, 2024 filed as Exhibit 99.2 to the Company’s Form 6-K, filed with the SEC on November 26, 2024. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. FOR MORE INFORMATION, PLEASE CONTACT: Investor Relations: ir@portagebiotech.com Media Relations: media@portagebiotech.comBy Boston.com Staff Take a deeper look at the stories impacting our community from the award-winning Boston Globe Media newsrooms. Hear directly from our journalists as they talk news politics, culture, and lifestyle with Segun Oduolowu and everything sports with Chris Gasper. Boston.com Today Sign up to receive the latest headlines in your inbox each morning. Be civil. Be kind.
ST. SIMONS ISLAND, Ga. (AP) — Maverick McNealy has learned in his five years on the PGA Tour that trying to win a tournament is “designed to make you feel as uncomfortable as you possibly can.” Standing in the 18th fairway Sunday in the RSM Classic, part of a four-way tie for the lead that included Florida State sophomore Luke Clanton, the 29-year-old McNealy had every reason to be uncomfortable. He had gone nine hole without a birdie. From 185 yards away he chose a 6-iron, a club that had gone anywhere from 120 yards to 240 yards during a week of big wind and cold weather, and at that moment as warm as it had been all tournament. The shot made it look like he had been there before, covering the flag and landing 5 feet away for a birdie and his first PGA Tour victory in his 134th start as a pro. It sends him to Maui to start next year and to the Masters in April for the first time. “A moment I'll never forget,” he said. Daniel Berger missed a 20-foot birdie attempt on the 18th that preceded McNealy's winner. He tied for second with Nico Echavarria and Clanton, both of whom missed par putts from inside 8 feet on the final hole that created the four-way tie. Berger got a small consolation prize, moving inside the top 125 to keep a full PGA Tour card for 2025 when the fields will be smaller and only the top 100 keep cards. Henrik Norlander, who was No. 126 in the FedEx Cup last year, had a 63-68 weekend and joined Berger as the two players who moved into the top 125. For Joel Dahmen, it was a matter of staying there. He was at No. 124 coming into the final tournament, had to make a 5-foot par putt just to make the cut on the number and then delivered a tee-to-green clinic — along with holing a 113-yard sand wedge for eagle early in his round — for a closing 64. It was enough to stay at No. 124 with nine points to spare. “Two of the biggest pressure moments of my career I showed up, and I can take that going forward,” Dahmen said. Clanton was a shot away from joining Nick Dunlap as amateur winners on the PGA Tour this year. Clanton, who has taken over as the top-ranked amateur in the world, now has two runner-up finishes and four top 10s in the seven PGA Tour starts the last five months. He had the look of a winner, especially with McNealy stuck in neutral, when he poured in birdie putts on the 14th and 16th holes to tie for the lead. But he tugged his approach to the 18th into bunker, blasted out to 7 feet and missed his par putt. He shot 66. “It’s going to be a tough one to definitely take, for sure, after bogeying the last,” Clanton said. “But I think it’s proven to me that out here I can win, so I’ll be training for that.” Echavarria, who won in Japan a month ago, had not made a bogey all day until going long on the 18th, chipping to 9 feet and catching the lip with his par putt. Michael Thorbjornsen was poised to move into the top 125 until he pulled his approach into the water on the par-5 15th hole and made bogey, closing with three pars for a 69. He tied for eighth and finished at No. 129. Thorbjornsen still has a full card next year from being No. 1 in PGA Tour University, but his status won't be as high. McNealy, son of Sun Microsystems co-founder Scott McNealy, had been doing some of his best work outside the ropes, particularly effecting a change in FedEx Cup points distribution to make it more equitable. Missing was a victory, and this one came down to the wire. He went out in 33 and led by two going to the back nine, and then it became a grind. He holed a 15-foot par putt from the fringe on the 11th to stay in the lead, and saved par after going bunker-to-bunker on the 13th. But he dropped a shot with an errant drive on the 14th, and when Echavarria birdied the 15th ahead of him, McNealy was out of the lead for the first time all day. He answered at just the right time, a 6-iron that covered the flag and settled just over 5 feet away. The victory gets him into three $20 million events over the first two months of the year starting with The Sentry at Kapalua, along with his first trip to Augusta National. AP golf: https://apnews.com/hub/golf
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The NATO Parliamentary Assembly’s resolution on Wednesday calling for Ukraine to be supplied with medium-range missiles — defined by the now-defunct INF Treaty as those with ranges between 1,000 and 5,500 kilometers — is a significant development, though not a final decision by the bloc or any national government. If such a decision is made, the options for providing these missiles to Ukraine remain limited. The only readily available medium-range missile system in the West is the US-made Tomahawk, a weapon that has already been used in various global conflicts. Currently, the only ground-based launcher systems capable of firing these missiles are the Mk 70 and the MRC Typhon, both based on the Mk 41 shipborne launching system, with only minor operational differences between them. But will these systems be transferred to Ukraine? The likely goal of America’s Biden administration needs careful consideration. The aim cannot be to decisively end the war in Ukraine, as the existing stock of Tomahawks is insufficient to achieve that objective. Even with a few dozen Tomahawks potentially being transferred to Kiev, such an action would lead to a significant escalation, likely provoking a strong response from Russia — possibly bringing the US and NATO into direct confrontation with Moscow, especially given the inevitable involvement of US military personnel in deploying these weapons. Some experts speculate that this move is part of a larger strategy by the Biden administration to “complicate matters as much as possible” in an effort to make any future peace talks — particularly those under a potential Trump administration — more difficult to pursue. As an alternative, Washington could consider providing JASSM-ER air-launched missiles, which have a range of about 1,000 kilometers and can be deployed from F-16 fighter jets. However, this too would do little to shift the balance of the conflict. The number of available JASSM-ERs would be far too small to lead to a Ukrainian victory, and their use would again risk escalating the conflict, with unpredictable consequences. Moreover, such a transfer would be impossible without continued US technical support. Do NATO’s leaders understand the risks of such actions? Surely they must. So why push for such a resolution? The NATO Parliamentary Assembly, though influential, is one of the least powerful branches of the alliance. Nonetheless, its actions appear to follow the larger direction set by NATO’s leadership, often without the full weight of strategic consequences being considered.Clemson 75, Penn St. 67Europa League: Rangers (Igamane 47') Tottenham 1 (Kulusevski 75') Dejan Kulusevski's 75th minute equaliser was enough to stop the rot but Tottenham's poor form continued as they drew 1-1 with Rangers at Ibrox. After a subdue first half, Rangers had taken the lead in the 47th minute through Hamza Igamane's superb volleyed strike, but substitute Kulusevski's calmly placed effort into the bottom corner ensured Ange Postecoglou's men did not return to England empty handed. The draw halts Tottenham's run of defeats, but they have now won only once in their last eight matches, with the pressure continuing to mount of manager Postecoglou. Ibrox was a cauldron of noise as the teams entered the pitch, the deafening sound drowned out the usually pre-match drumming of the Europa League anthem. Spurs entered the match on a run of one win in seven games, with the 4-0 drubbing of Manchester City the only exception. Rangers had won four times since Spurs last tasted victory, with both sides' confidences at the opposite sides of the spectrum. It had been six matches and 32 years since Rangers last defeated an English team, with the previous visit of Liverpool in 2022 resulting in a 7-1 battering. Spurs carried little attacking threat during then first half, as Postecoglou's front line struggled to click with Dejan Kulusevski and Dominic Solanke on the bench. Philippe Clement promised changes ahead of the Gers' Scottish League Cup final against Celtic on Sunday and he delivered, with the Belgian making four changes to his side. The banner "Make Rangers Great Again" covered the lower tier of the Copland Stand before the match, and Nicolas Raskin embodied the fans' attitude with the Tottenham midfield. First the Belgian barged Rodrigo Bentancur out the way, then made light work of Yves Bissouma before swiping James Maddison to the ground, all in the first half. But the opening 20 minutes was a less illicit affair than the pre-match proceedings had suggested, with both teams struggled to take control. Václav Cerny had the first meaningful effort at goal 25 minutes in, but Fraser Forster got enough behind the ball to keep the scores level. Cerny looked the most likely to penetrate the patched up defence from the visitors, with Forster denying the Czech international at the end of the first period after a subdued 45 minutes from Postecoglou's men. With an evident sense of fear amongst his players, Postecoglou sent his team out early after the break, as well as introducing Kulusevski into the fold. However only two minutes into the second half, queue Ibrox bedlam as the home side went in front. Captain James Tavernier floated an inviting ball towards the back post and the unmarked Igamane was on hand to volley in the opening goal. Roars reverberated around Ibrox as the joyous home supporters took aim at former foe Postecoglou, with symphonies of "You're getting sacked in the morning" towards the former Celtic boss. One way traffic followed the goal, with the north Londoners suffocated into their own third by the Rangers attack as the Scots smelled blood. Mohamed Diomande's deflected volley had Forster wrong-footed moments later, but fortunately for the former Celtic goalkeeper he watched the ball narrowly roll wide. But for all the pressure that the hosts put on Tottenham in an attempt to extend their advantage, it was the visitors who struck the most crucial of equalisers with 15 minutes to go. Substitute Solanke's cross into the box was dummied by the onrushing Maddison, with fellow inductee Kulusevski latching onto to the loose ball before firing low past Gers stopper Jack Butland to bring Spurs level. With five minutes left on the clock substitute Cyriel Dessers then almost took the roof off Ibrox after he spun past the makeshift Spurs defence of 18-year-old Archie Gray and Radu Dragusin, but his shot was brilliant saved at point blank by Forster. After both sides traded blows in the closing stages, the draw ensures Rangers remain in the top eight of the Europa League table, with Tottenham one place behind them in ninth. Rangers : Butland 6; Tavernier 6, Ridvan (Fraser, 79') 6, Propper 5, Souttar (Balogun, 35') 5, Diomade 7, Bajrami (Barron, 68') 6, Cerny (Sterling, 68') 7, Jefte 6, Igamane (Dessers, 79') 7, Raskin 7. Subs not used : Kelly, Cortes, Dowell, King, McCausland, Rice, Curtis. Tottenham : Forster 8; Porro 5, Dragusin 4, Gray 5, Udogie 5, Bentancur (Sarr, 60') 5, Bissouma (Bergvall, 60') 5, Maddison 6, Son 6, Johnson (Solanke, 60') 6, Werner (Kulusevski, HT) 3. Subs not used: Austin, Whiteman, Dorrington, Hardy, Williams-Bennett, Olusesi, Lankshear. Referee: Sandro Schärer
Anadolu’s documentary The Evidence on Gaza gains global interest, acclaim
MALAGA, Spain (AP) — No. 1-ranked Jannik Sinner won matches in singles and doubles to lead defending champion Italy to a 2-1 comeback victory over Argentina on Thursday, earning a return trip to the Davis Cup semifinals. “I’m here trying to do the best I can in the singles,” Sinner said. “If they put me on the court in doubles, I’ll also try my best.” On Saturday, Italy will face Australia in a rematch of last year's final, but this time it will only be for a chance to play for the championship. Australia eliminated the U.S. 2-1 earlier Thursday to reach the final four at the team competition for the third consecutive year. The other semifinal, to be contested Friday, is the Netherlands against Germany. The Dutch got past Rafael Nadal and Spain in the quarterfinals earlier in the week, sending the 22-time Grand Slam champion into retirement. Italy fell behind 1-0 in the quarterfinals when Argentina’s Francisco Cerúndolo defeated Lorenzo Musetti 6-4, 6-1 on an indoor hard court at the Palacio de Deportes Jose Maria Martina Carpena in southern Spain. But then in stepped Sinner, whose season already includes two Grand Slam trophies — at the Australian Open and U.S. Open — plus the title at the ATP Finals last weekend in Turin, Italy. First he overwhelmed Sebastián Báez 6-2, 6-1. Then Sinner teamed with 2021 Wimbledon runner-up Matteo Berrettini in the deciding doubles match to win 6-4, 7-5 against Andres Molteni and Maximo Gonzalez. “He carried me today,” Sinner said about Berrettini. After arriving late to Malaga from Turin, Sinner did not get a chance to practice on the Davis Cup competition court before taking on Báez and stretching his streak to 22 sets won in a row. “In three minutes, he was perfectly comfortable on court,” Italy captain Filippo Volandri said. “He’s a special one.” Volandri swapped out his original doubles team, Simone Bolelli and Andrea Vavassori, for Sinner and Berrettini, and the change paid dividends. Australia, the Davis Cup runner-up the last two years, advanced when Matt Ebden and Jordan Thompson beat the surprise, last-minute American pairing of Ben Shelton and Tommy Paul 6-4, 6-4 in that quarterfinal's deciding doubles match. The Shelton-Paul substitution for Paris Olympics silver medalists Austin Krajicek and Rajeev Ram was announced about 15 minutes before the doubles match began. Ebden and John Peers beat Krajicek and Ram in the Summer Games final in August. The Australians broke once in each set of the doubles. In the second, they stole one of Shelton’s service games on the fourth break opportunity when Ebden’s overhead smash made it 5-4. Thompson then served out the victory, closing it with a service winner before chest-bumping Ebden. The 21st-ranked Shelton made his Davis Cup debut earlier Thursday in singles against 77th-ranked Thanasi Kokkinakis, who emerged from a tight-as-can-be tiebreaker by saving four match points and eventually converting his seventh to win 6-1, 4-6, 7-6 (14). No. 4 Taylor Fritz , the U.S. Open runner-up, then pulled the Americans even with a far more straightforward victory over No. 9 Alex de Minaur , 6-3, 6-4. When their match finally ended, on a backhand by Shelton that landed long, Kokkinakis dropped onto his back and pounded his chest. After he rose, he threw a ball into the stands, then walked over to Australia’s sideline, spiked his racket and yelled, before hugging captain Lleyton Hewitt. “I don’t know if I’ve been that pumped up in my life. I wanted that for my team,” said Kokkinakis, who won the 2022 Australian Open men’s doubles title with Nick Kyrgios. “It could have gone either way, but I kept my nerve.” AP tennis: https://apnews.com/hub/tennis
Bryant 97, Tennessee St. 85None
