Panbela Therapeutics shares are trading lower after the company announced the publication of clinical data from studies of CPP-1X in neuroblastoma. Also, the company's previously-announced 1-for-20 reverse stock split was effected today.
Portfolio Pulse from Benzinga Newsdesk
Panbela Therapeutics' stock is trading lower following the announcement of clinical data from CPP-1X studies in neuroblastoma and the effectuation of a 1-for-20 reverse stock split.
January 18, 2024 | 4:13 pm
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Panbela Therapeutics' shares are down after the release of CPP-1X neuroblastoma study results and a 1-for-20 reverse stock split.
The trading lower of Panbela Therapeutics' shares is likely due to the market's reaction to the clinical study results, which may not have met investor expectations. Additionally, reverse stock splits are often viewed negatively as they can be indicative of a company trying to boost its stock price to meet exchange listing requirements and can dilute shareholder value.
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