Panbela Therapeutics (PBLA) Stock Is Down 25%: What's Going On?
Portfolio Pulse from Henry Khederian
Panbela Therapeutics Inc (NASDAQ:PBLA) stock dropped 25% to $1.18 after a recent surge. The decline follows the FDA approval of eflornithine, a drug Panbela divested to US WorldMeds, for high-risk neuroblastoma patients. Despite the approval being a positive development, the stock has retreated from its recent highs. Panbela could earn $9.5 million based on milestones from US WorldMeds. The company sees the approval as a significant step for polyamine targeted therapy in cancer treatment.
December 20, 2023 | 6:37 pm
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Panbela Therapeutics' stock has fallen by 25% to $1.18, despite the FDA approval of a drug they previously divested, which could bring potential earnings from milestones.
The stock price decline despite the FDA approval suggests that the market had already priced in the positive news, or there may be concerns about the company's future revenue streams and growth prospects. The potential earnings from milestones are positive, but the immediate market reaction has been negative, indicating a bearish short-term sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100