Why Panbela Therapeutics Shares Are Trading Lower By 65%? Here Are Other Stocks Moving In Monday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Panbela Therapeutics, Inc. (NASDAQ:PBLA) shares plummeted by 65.5% to $1.47 after announcing a public offering priced at approximately $9 million. Other stocks experienced significant movements in Monday's mid-day session, with various companies showing notable gains and losses. Gainers included Palisade Bio, Inc. (NASDAQ:PALI), OneMedNet Corporation (NASDAQ:ONMD), and Revelation Biosciences, Inc. (NASDAQ:REVB), among others. Losers featured SMX (Security Matters) Public Limited Company (NYSE:SMX), Inspire Veterinary Partners, Inc. (NASDAQ:IVP), and Bullfrog AI Holdings, Inc. (NASDAQ:BFRG), among others.
January 29, 2024 | 7:09 pm
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Panbela Therapeutics shares dropped significantly due to the pricing of a large public offering, diluting existing shareholders.
The sharp decline in PBLA's stock price is a direct reaction to the public offering announcement, which typically leads to dilution of shares and can negatively impact short-term stock price.
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