Panbela Therapeutics, Inc. reported its financial performance for the quarter ended September 30, 2024, with a net loss of $7.2 million, a slight improvement from the $7.8 million loss in the same period the previous year. The company's R&D expenses decreased by 10.2% to $6.1 million, attributed to a reduction in activity by their ASPIRE CRO and reduced preclinical research. G&A expenses remained flat at $1.1 million. The company also reported an income tax benefit of $139,000 for the nine months ended September 30, 2024, down from $167,000 in the same period in 2023. Panbela's cash position decreased to $142,000 from $2.6 million at the end of 2023, with a working capital deficit of $15.0 million. The company has been working on developing therapeutics for urgent unmet medical needs, with its lead...Show More

Panbela Therapeutics, Inc. reported its financial performance for the quarter ended September 30, 2024, with a net loss of $7.2 million, a slight improvement from the $7.8 million loss in the same period the previous year. The company's R&D expenses decreased by 10.2% to $6.1 million, attributed to a reduction in activity by their ASPIRE CRO and reduced preclinical research. G&A expenses remained flat at $1.1 million. The company also reported an income tax benefit of $139,000 for the nine months ended September 30, 2024, down from $167,000 in the same period in 2023. Panbela's cash position decreased to $142,000 from $2.6 million at the end of 2023, with a working capital deficit of $15.0 million. The company has been working on developing therapeutics for urgent unmet medical needs, with its lead candidates being ivospemin (SBP-101), Flynpovi™, and eflornithine (CPP-1X). Panbela's future plans include continuing the ASPIRE trial for ivospemin, despite challenges with their CRO, and seeking regulatory guidance for Flynpovi. The company's ability to continue operations is dependent on obtaining additional financing and successful development and commercialization of its product candidates.