What's Going On With Panbela Therapeutics (PBLA) Stock?
Portfolio Pulse from Henry Khederian
Panbela Therapeutics Inc (NASDAQ:PBLA) stock rose by 9.7% to $0.50 after announcing FDA approval of eflornithine, a drug they divested to US WorldMeds, for high-risk neuroblastoma patients. Panbela may receive up to $9.5 million based on milestones from USWM. The approval is the first for a polyamine targeted therapy in cancer, with potential implications for other cancers. PBLA's 52-week range is $0.45 to $225.71.
December 18, 2023 | 3:18 pm
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POSITIVE IMPACT
Panbela Therapeutics' stock increased following the FDA approval of eflornithine for neuroblastoma, a drug they previously divested. The company may receive milestone payments up to $9.5 million from US WorldMeds.
The FDA approval of eflornithine is a significant positive catalyst for PBLA as it validates the company's research and could lead to substantial milestone payments. This news is likely to be viewed positively by investors, potentially increasing the stock's value in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100