Panbela Therapeutics
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Panbela Therapeutics (PBLA) investor relations material

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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 $12 million in strategic financing from Nant Capital, with $2.85 million funded and $9.15 million expected by November 15, 2024, supporting financial stability, clinical alliances, and potential immunotherapy collaborations.

  • Advanced multiple clinical programs, including the pivotal Phase III ASPIRE trial in metastatic pancreatic cancer, with full enrollment expected by Q2 2025 and interim analysis in Q1 2025.

  • Achieved milestones in the Flynpovi PACES trial for colorectal cancer prevention, with data readout anticipated in the second half of 2026.

  • Expanded research collaborations and preclinical programs, including partnerships with MD Anderson, Vanderbilt, and ImmunityBio, and initiated new trials in ovarian, lung, and STK11 mutant NSCLC.

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

Financial highlights

  • Net loss for Q3 2024 was $7.2 million ($1.48 per diluted share), compared to $7.8 million ($53.74 per diluted share) in Q3 2023; net loss for the nine months ended September 30, 2024, was $21.4 million.

  • Research and development expenses were $6.0 million in Q3 2024, down from $6.7 million year-over-year; general and administrative expenses were flat at $1.1 million.

  • Cash as of September 30, 2024, was $142,000, not including the Nant Capital funding; cash position declined from $2.6 million at year-end 2023.

  • Total current assets were $5.2 million; current liabilities were $20.1 million at quarter end.

  • Cash used in operations for the nine months ended September 30, 2024, was $12.5 million.

Outlook and guidance

  • Interim analysis for the ASPIRE trial is expected in Q1 2025, with full enrollment by Q2 2025.

  • Data readout for the PACES trial is anticipated in the second half of 2026.

  • Phase II ovarian and neoadjuvant pancreatic cancer trials are planned 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 immediately to fund operations and complete clinical trials; no assurance of obtaining financing.

How long will Nant Capital funds extend runway?
What does ASPIRE's lower event rate imply?
Explain the strategic value of Nant Capital alliance
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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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