What's Going On With Panbela Therapeutics Stock Today?

Panbela Therapeutics Inc Ordinary Shares 0.00%

PBLA

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Panbela Therapeutics, Inc. (NASDAQ:PBLA) shares are trading lower over 2% on Tuesday, ending Monday’s session with a whopping 65.3% decline on the bourses. 

On Tuesday, the company said that an abstract for SBP-101, a proprietary polyamine analogue, had been accepted for poster presentation at the American Association for Cancer Research.

The work reflects the company’s ongoing collaboration with Johns Hopkins University School of Medicine, Panbela said in a press release.

Yesterday, the company announced the pricing of a public offering of 4.38 million shares of its common stock or pre-funded warrants.

The company also disclosed two classes of warrants to purchase up to an aggregate of 8.75 million shares of its common stock.

The common warrants will have an exercise price of $2.06 per share, are exercisable upon issuance, and will expire five years following the date of issuance. 

Gross proceeds are expected to be approximately $9.0 million. The offering is expected to close on or about January 31, 2024.

Last week, the company was in the headlines for enrollment for its ASPIRE global clinical trial in the first-line treatment of metastatic pancreatic cancer.

Price Action: PBLA shares are trading lower by 2.05% to $1.44 on the last check Tuesday.

Photo via Wikimedia Commons

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