Panbela Therapeutics Inc., a clinical stage company developing groundbreaking therapeutics for the treatment of patients with urgent unmet medical needs, has announced the pricing of a public offering of 6,675,000 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 13,350,000 shares of its common stock (the “Public Warrants”) at a purchase price of $2.25 per share and associated Public Warrant. These Public Warrants are exercisable upon issuance and will have an exercise price of $2.75 per share, expiring five years after the date of issuance. This offering is expected to close on or about January 30, 2023, pending customary closing conditions.
Roth Capital Partners is taking the lead and Maxim Group LLC is joining forces as co-placement agents for a highly anticipated offering.
The Company is excited to announce the proposed offering of approximately $15.0 million to be used for the continued clinical development of its product candidates ivospemin (SBP-101) and eflornithine (CPP-1X), working capital, business development and other general corporate purposes, such as debt repayment. This is an opportunity for the Company to take a major step forward in its growth and development.
The securities described in this offering are available for purchase now that the registration statement on Form S-1, as amended, has been declared effective by the U.S. Securities and Exchange Commission (“SEC”) on January 25, 2023, and the additional registration statement filed with the SEC on January 26, 2023 pursuant to Rule 462(b) of the Securities Act of 1933, as amended. To find out more about the terms of the offering, be sure to check out the accompanying prospectus, which can be obtained from the SEC’s website. Don’t miss out on this great opportunity to invest in these securities!
About Panbela’s Pipeline
Our pipeline is brimming with innovative treatments in clinical trials, with a primary focus on familial adenomatous polyposis (FAP), first-line metastatic pancreatic cancer, neoadjuvant pancreatic cancer, colorectal cancer prevention and ovarian cancer. With a steady stream of upcoming catalysts and programs spanning from pre-clinical to registration studies, we are tirelessly working to develop treatments that can make a real difference in improving patient outcomes.
SBP-101 Ivospemin
Ivospemin, a proprietary polyamine analogue, has shown potential to inhibit tumor growth in metastatic pancreatic cancer patients. In clinical trials, the median overall survival rate and objective response rate were 14.6 months and 48% respectively, outperforming the FDA-approved standard chemotherapy regimen of gemcitabine + nab-paclitaxel. In addition, the drug has not been associated with exacerbation of bone marrow suppression or peripheral neuropathy, two common side effects of chemotherapy. Serious visual adverse events have been considered and patients with a history of retinopathy or at risk of retinal detachment will be excluded from future clinical trials. The promising safety data and PMI profile make ivospemin a promising candidate for further evaluation in the ASPIRE trial.
Flynpovi ™
Flynpovi, a combination of CPP-1X (eflornithine) and sulindac, has demonstrated in Phase 3 clinical trials that it can successfully prevent pre-cancerous conditions in sporadic large bowel polyps with over 90% efficacy. In a recent Phase 3 trial comparing Flynpovi to single agent eflornithine and single agent sulindac, FAP patients with lower GI anatomy experienced statistically significant benefit when using Flynpovi over the single agents, delaying surgical events in the lower GI for up to four years. Not only is Flynpovi effective, but its safety profile is comparable to the single agents, making it a viable option for those with FAP.
CPP-1X
CPP-1X (eflornithine) is a promising new treatment option being developed as a single agent tablet or high dose power sachet for a variety of indications. Early trials have revealed that CPP-1X may be a safe and effective treatment for gastric cancer prevention, neuroblastoma and recent onset Type 1 diabetes. With further research, CPP-1X could become an important therapeutic option for many ailments.
About Panbela
At Panbela Therapeutics, Inc., we are committed to developing innovative, life-saving treatments for patients with urgent, unmet medical needs. Our lead assets, Ivospemin (SBP-101) and Flynpovi, have the potential to revolutionize healthcare and provide hope to those in need. With our cutting-edge therapeutics, we are striving to make a meaningful difference in patients’ lives.