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Panbela Therapeutics (PBLA) investor relations material

Panbela Therapeutics Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary14 Nov, 2024

Executive summary

  • Secured up to $12M in strategic financing from Nant Capital, with $2.85M funded and $9.15M pending, supporting clinical and operational activities and enabling potential immunotherapy collaborations.

  • Advanced multiple clinical programs, including the pivotal Phase 3 ASPIRE trial in metastatic pancreatic cancer, and initiated a Phase I study in STK11 mutant NSCLC.

  • Achieved milestones such as FDA approval of Aflornithine for pediatric neuroblastoma and completion of enrollment in the Phase 3 PACE's trial for colorectal cancer prevention.

  • Delisted from Nasdaq in April 2024; shares now quoted on OTCQB, with relisting application pending.

  • CRO for ASPIRE trial terminated in August 2024 due to payment delays; company assumed direct trial management.

Financial highlights

  • Q3 2024 net loss was $7.2M ($1.48 per share), compared to $7.8M ($53.74 per share) in Q3 2023; nine-month net loss was $21.4M, up from $18.8M year-over-year.

  • R&D expenses for Q3 2024 were $6.0M–$6.1M, down from $6.7M in Q3 2023; G&A expenses were flat at $1.1M.

  • Cash as of September 30, 2024, was $142K–$0.1M, not including Nant Capital funding; current assets $5.2M, current liabilities $20.1M.

  • Cash used in operations for the nine months ended September 30, 2024, totaled $12.5M, down from $22.2M in the prior year.

  • Net loss per share for nine months ended September 30, 2024, was $(5.00), reflecting a higher share count.

Outlook and guidance

  • Full enrollment of the Phase 3 ASPIRE trial (~600 patients) expected by Q2 2025; interim analysis planned for Q1 2025 due to lower-than-expected event rates.

  • Data readout for the Phase 3 PACE's trial anticipated in the second half of 2026.

  • Interim analysis for the Type 1 diabetes trial expected next year; Phase 2 ovarian cancer and neoadjuvant pancreatic trials to open in early 2025.

  • Company expects to continue incurring substantial losses and negative cash flows as it advances clinical programs; additional capital is required to fund operations.

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Frequently asked questions

Panbela Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for the treatment of cancer. The company's lead programs target pancreatic cancer and other gastrointestinal cancers, with an emphasis on inhibiting tumor growth and improving patient outcomes. Panbela’s approach involves advancing small-molecule therapeutics that address significant unmet medical needs in oncology, aiming to provide more effective treatment options for aggressive cancers. The company is headquartered in Waconia, Minnesota, USA, and its shares are listed on the NASDAQ.

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