Summary by Moomoo AI
Panbela Therapeutics has filed a prospectus supplement on July 30, 2024, to update information related to the resale of 255,600 shares of common stock by selling securityholders, as part of its registration statement on Form S-1. The supplement follows a current report on Form 8-K filed on the same date, detailing a new loan agreement entered into on July 24, 2024, between Panbela Therapeutics and its subsidiary, Cancer Prevention Pharmaceuticals, Inc., with USWM, LLC. The loan agreement provides a term loan of $1.5 million with specific interest and premium terms, maturing on the earliest of a qualifying financing or transaction closing, or December 31, 2024. The proceeds are designated for payment of fees and expenses to a contract research organization, working capital purposes, and related fees or expenses. The company has also entered into a security agreement granting USWM, LLC a first priority security interest in all rights, title, and interest in the Asset Purchase Agreement to secure the obligations under the loan.