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Panbela Therapeutics | 10-Q: Q2 2024 Earnings Report

Panbela Therapeutics | 10-Q: Q2 2024 Earnings Report

Panbela Therapeutics | 10-Q:2024财年二季报
美股SEC公告 ·  2024/08/14 05:13

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Panbela Therapeutics reported a net loss of $7.1 million in Q2 2024, up from $5.8 million in Q2 2023, as research and development expenses increased 65.3% to $7.0 million due to expansion of the ASPIRE clinical trial. The company ended the quarter with cash of $59,000 and a working capital deficit of $16.0 million.The company's ASPIRE trial for pancreatic cancer treatment has expanded to 89 sites across 10 countries, with over 50% enrollment completed. Management projects full enrollment by Q1 2025, with interim analysis expected in early 2025. However, the trial faces uncertainty as the contract research organization has threatened termination by August 19, 2024, unless the remaining balance of $11.2 million is paid.To address immediate funding needs, Panbela secured a $1.5 million loan from USWM, LLC in July 2024 and completed a $9.0 million public offering in January 2024. The company's stock was delisted from Nasdaq in March 2024 and now trades on OTCQB, though it has applied for relisting on Nasdaq.
Panbela Therapeutics reported a net loss of $7.1 million in Q2 2024, up from $5.8 million in Q2 2023, as research and development expenses increased 65.3% to $7.0 million due to expansion of the ASPIRE clinical trial. The company ended the quarter with cash of $59,000 and a working capital deficit of $16.0 million.The company's ASPIRE trial for pancreatic cancer treatment has expanded to 89 sites across 10 countries, with over 50% enrollment completed. Management projects full enrollment by Q1 2025, with interim analysis expected in early 2025. However, the trial faces uncertainty as the contract research organization has threatened termination by August 19, 2024, unless the remaining balance of $11.2 million is paid.To address immediate funding needs, Panbela secured a $1.5 million loan from USWM, LLC in July 2024 and completed a $9.0 million public offering in January 2024. The company's stock was delisted from Nasdaq in March 2024 and now trades on OTCQB, though it has applied for relisting on Nasdaq.
Panbela Therapeutics在2024年第二季度报告了710万美元的净亏损,较2023年第二季度的580万美元有所增加,因为由于ASPIRE临床试验的扩展,研发费用增加了65.3%,达到700万美元。该公司在本季度末现金为59000美元,流动资本赤字为1600万美元。该公司的ASPIRE试验用于治疗胰腺癌,已扩展到10个国家的89个地点,超过50%的入组已完成。管理层预计到2025年第一季度将完成全部入组,预计在2025年初进行中期分析。然而,由于合同研究组织威胁在2024年8月19日前终止合同,试验面临不确定性,除非支付剩余的1120万美元。为了应对紧急资金需求,Panbela在2024年7月从USWm, LLC获得了150万美元的贷款,并在2024年1月完成了900万美元的公开发行。该公司的股票于2024年3月从纳斯达克退市,目前在OTCQb交易,尽管它已申请在纳斯达克重新上市。
Panbela Therapeutics在2024年第二季度报告了710万美元的净亏损,较2023年第二季度的580万美元有所增加,因为由于ASPIRE临床试验的扩展,研发费用增加了65.3%,达到700万美元。该公司在本季度末现金为59000美元,流动资本赤字为1600万美元。该公司的ASPIRE试验用于治疗胰腺癌,已扩展到10个国家的89个地点,超过50%的入组已完成。管理层预计到2025年第一季度将完成全部入组,预计在2025年初进行中期分析。然而,由于合同研究组织威胁在2024年8月19日前终止合同,试验面临不确定性,除非支付剩余的1120万美元。为了应对紧急资金需求,Panbela在2024年7月从USWm, LLC获得了150万美元的贷款,并在2024年1月完成了900万美元的公开发行。该公司的股票于2024年3月从纳斯达克退市,目前在OTCQb交易,尽管它已申请在纳斯达克重新上市。
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