Panbela Therapeutics (PBLA) Registration Filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on developing therapeutics for urgent unmet medical needs, primarily in oncology and rare diseases.

• Lead assets include ivospemin (SBP-101) for pancreatic cancer and Flynpovi (eflornithine and sulindac) for familial adenomatous polyposis (FAP) and colon cancer risk reduction.

• Pipeline includes multiple clinical and preclinical programs targeting pancreatic, ovarian, gastric, colorectal, and prostate cancers, as well as type 1 diabetes.

• Business model leverages partnerships, licensing, and collaborations with academic and research institutions.

Financial performance and metrics

• Accumulated deficit of $139.8 million since inception; net loss of $14.3 million for the six months ended June 30, 2024.

• Cash and cash equivalents of $59,000 as of June 30, 2024, with a working capital deficit of $16.0 million.

• Net cash used in operating activities was $10.4 million for the six months ended June 30, 2024.

• Negative operating cash flow and recurring losses have led auditors to express substantial doubt about the company’s ability to continue as a going concern.

Use of proceeds and capital allocation

• Estimated net proceeds of $20.9 million (up to $24.1 million if underwriter’s option is exercised) from the offering.

• Proceeds intended for continued clinical development of ivospemin and eflornithine, repayment of debt (including a $1.5 million USWM loan), and general corporate purposes.

• Management will have significant discretion in applying the net proceeds.