Why Are Panbela Therapeutics Shares Trading Higher Today?
Portfolio Pulse from Vandana Singh
Panbela Therapeutics Inc (NASDAQ:PBLA) has divested certain assets in its eflornithine pediatric neuroblastoma program to US WorldMeds 1 (USWM). Panbela is set to receive up to approximately $9.5 million in non-dilutive funding for the sale. Payments will be made upon USWM's successful completion of milestones related to eflornithine's clinical development, regulatory approval, and commercial sales. Following the news, PBLA shares rose by 24.90%.
July 19, 2023 | 4:18 pm
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Panbela's divestment of assets to USWM and the potential to receive up to $9.5 million in non-dilutive funding has led to a significant increase in its share price.
The divestment of assets is a positive move for Panbela as it allows the company to receive non-dilutive funding, which does not dilute the ownership of existing shareholders. This is seen as a positive move by the market, leading to an increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100