波士顿生物科技公司美股招股说明书(2025-07-25版)

be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. Thisprospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information inthe Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement. Investing in the securities offered in the Prospectus involves a high degree of risk. Before making any investment in thesesecurities, you should consider carefully the risks and uncertainties in the section entitled “Risk Factors” beginning on page 9of the Prospectus, and in the other documents that are incorporated by reference into the Prospectus. of the securities offered in the Prospectus or passed upon the accuracy or adequacy of the Prospectus or this prospectussupplement. Any representation to the contrary is a criminal offense.___________________________ The date of this prospectus supplement is July 25, 2025 REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 Commission File Number:001-40086 PORTAGE BIOTECH INC.(Translation of registrant's name into English) Press Release dated July 25, 2025* Filed herewith behalf by the undersigned, thereunto duly authorized.Date: July 25, 2025 PORTAGE BIOTECH INC./s/ Andrea ParkAndrea ParkChief Financial Officer Portage Biotech Reports Results for Fiscal Year Ended March 31, 2025DOVER, Del., July 25, 2025 (GLOBE NEWSWIRE) -- Portage Biotech Inc. (“Portage” or the “Company”) (NASDAQ: PRTG), aclinical-stage immuno-oncology company formed under the laws of the British Virgin Islands, with a portfolio of novel multi-targetedtherapies for use as monotherapy and in combination, today reported its financial results for the fiscal year ended March 31, 2025. approximately $4.3 million in Fiscal 2025. The decreases are attributable to decreases in: non-cash share-based compensation expenseallocable to G&A expenses by $0.9 million, from $1.2 million in Fiscal 2024 to $0.3 million in Fiscal 2025, primarily due to thevesting of certain share options granted in prior years fully vesting by Fiscal 2024 and lower fair value associated with more recentgrants; professional fees by $0.7 million, from $2.3 million in Fiscal 2024, compared to $1.6 million in Fiscal 2025, primarily due todecline in public relations and accounting services related expenses; directors’ fees by $0.1 million, from $0.3 million in Fiscal 2024,compared to $0.2 million Fiscal 2025 due to the adoption of a new director compensation policy in March 2025; and general officerelated supplies and expenses by $0.1 million, from $0.2 million in Fiscal 2024, compared to $0.1 million in Fiscal 2025. These liabilities under the Master Services Agreement between iOx and Parexel partially offset to some extent by the $0.4 million non-cashloss from the change in the fair value of certain warrants accounted for as liabilities, issued in connection with a private placementoffering in October 2023 in Fiscal 2025. In Fiscal 2024, the recognized full impairment of the carrying value of in-process researchand development of $57.9 million for iOx and $23.6 million for Tarus, as well as a $1.0 million loss on the impairment of theCompany’s investment in Stimunity and the Stimunity convertible note. These expenses were partially offset by the non-cash gains Forward-Looking StatementsAll statements in this news release, other than statements of historical facts, including without limitation, statements regarding theCompany’s business strategy, plans and objectives of management for future operations and those statements preceded by, followed by financing, the uncertainty of the Company’s ability to continue as a going concern, scientific results may not be as expected, and otherfactors set forth in “Item 3 - Key Information-Risk Factors” in the Company’s Annual Report on Form 20-F for the year ended March31, 2025. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, unduereliance should not be placed on them as actual results may differ materially from these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to updatepublicly or revise any forward-looking statements or information, except as required by law.FOR MORE INFORMATION, PLEASE CONTACT: