Welcome to our dedicated page for Purple Biotech news (Ticker: PPBT), a resource for investors and traders seeking the latest updates and insights on Purple Biotech stock.
Purple Biotech Ltd (PPBT) is a clinical-stage oncology innovator developing therapies to combat tumor resistance mechanisms. This hub provides investors and researchers with timely updates on the company’s pipeline progress, including its dual inhibitor NT219, CEACAM1-targeting CM24 antibody, and tri-specific antibody platform.
Key resources include: Press releases detailing clinical trial milestones for lead candidates, partnership announcements with pharmaceutical collaborators, and regulatory filings related to drug development. Users will find analysis of preclinical data alongside updates on combination therapy strategies involving immunotherapies.
Bookmark this page to efficiently track PPBT’s advancements in overcoming immune evasion through novel mechanisms like STAT3 inhibition and localized immune activation. Check regularly for new insights into trial designs, biomarker analyses, and strategic initiatives shaping the future of precision oncology.
Purple Biotech (NASDAQ/TASE: PPBT) has been selected to present data on its CAPTN-3 platform at the 36th EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in Barcelona, Spain, from October 23-25, 2024. The poster, titled "CAPTN-3: A novel platform of conditionally activated T cell and NK cell engagers," will be presented by Dr. Hadas Reuveni, VP R&D of Purple Biotech.
CAPTN-3 is a first-in-class platform of conditionally activated tri-specific antibodies that engage both T cells and NK cells with tumors, creating an enhanced immune response against cancer. The company's lead candidate, IM1240, targets 5T4, a tumor-associated antigen overexpressed in various solid tumors and linked to poor clinical outcomes. 5T4's specific expression pattern in cancer cells makes it an ideal target for therapeutic approaches in lung, gastric, head and neck, and other cancers.
Purple Biotech (NASDAQ/TASE: PPBT) reported positive interim data from its Phase 2 study of CM24, its lead oncology therapeutic candidate, for pancreatic ductal adenocarcinoma (PDAC) treatment. Key findings include:
1. High CEACAM1 and low PDL1 expression in tumors associated with improved overall survival (OS).
2. Improved OS for patients with serum neutrophil extracellular trap (NET) marker myeloperoxidase (MPO).
3. NETs proposed as a novel mechanism of action and potential biomarker for CM24-based therapy.
4. Data supports potential for biomarker-led studies and exploration of CM24's efficacy in other cancers.
The study evaluates CM24 combined with nivolumab and chemotherapy as a second-line PDAC treatment. Topline data expected in Q4 2024.
Purple Biotech (NASDAQ/TASE: PPBT) has been selected to present data on its lead oncology drug CM24 at the AACR Special Conference on Advances in Pancreatic Cancer Research in Boston, Massachusetts, from September 15-18, 2024. The poster presentation, scheduled for September 17, will focus on exploratory biomarker evaluation from the randomized Phase 2 study of CM24 in combination with nivolumab and chemotherapy for advanced/metastatic pancreatic cancer.
The ongoing Phase 2 study involves 63 patients across 18 centers in the U.S., Spain, and Israel. Interim data presented at the 2024 ASCO Annual Meeting showed improvements in overall survival, progression-free survival, and objective response rate in the experimental arm compared to standard of care. Topline data from this study are expected in Q4 2024.
Purple Biotech (NASDAQ/TASE: PPBT), a clinical-stage company developing first-in-class therapies for tumor immune evasion and drug resistance, will participate in the H.C. Wainwright 26th Annual Global Investment Conference from September 9-11, 2024. The company's executive management will engage in a virtual Fireside Chat presentation and one-on-one meetings with institutional investors.
Key points:
- Virtual Fireside Chat available on-demand from September 9 at 7:00 AM ET
- Presentation accessible for 30 days on Purple Biotech's website
- CEO Gil Efron to conduct in-person meetings at the Lotte New York Palace Hotel
- Investors can register for the conference at www.hcwevents.com/annualconference
Purple Biotech (NASDAQ/TASE: PPBT) reported positive interim data from its Phase 2 CM24 pancreatic cancer study at ASCO 2024. The CM24+nivolumab+NAL-IRI/5FU/LV combination showed improvements in overall survival, progression-free survival, and objective response rate compared to standard-of-care. The company is evaluating expanding CM24's clinical program based on its novel CEACAM1 target on Neutrophil Extracellular Traps.
Financial highlights for Q2 2024 include:
- R&D expenses decreased 35.1% to $2.4 million
- Operating loss decreased 31.4% to $3.5 million
- Net loss decreased to $2.4 million ($0.09 per ADS)
- Cash runway extended to Q3 2025
Purple Biotech expects additional interim data in Q3 2024 and final topline results in Q4 2024.
Purple Biotech (NASDAQ/TASE: PPBT), a clinical-stage oncology company, has received a 180-day extension from Nasdaq to regain compliance with the minimum $1.00 bid price requirement. The company now has until January 21, 2025, to meet this requirement, which involves maintaining a closing bid price of at least $1.00 for its American Depositary Shares (ADSs) for a minimum of 10 consecutive business days. This extension does not immediately affect Purple Biotech's listing on Nasdaq or the Tel Aviv Stock Exchange. The company will monitor its ADS price and consider options to regain compliance within the given timeframe.
Purple Biotech (NASDAQ/TASE: PPBT) will host a virtual event on July 11, 2024, to discuss positive interim results from its Phase 2 study of CM24 in treating second-line metastatic pancreatic ductal adenocarcinoma (PDAC). The event will feature key opinion leaders Dr. Michael Cecchini from Yale School of Medicine and Dr. E. Gabriela Chiorean from the University of Washington School of Medicine. They will present data showing a reduction in the risk of death and disease progression, improved overall survival (OS) and progression-free survival (PFS), higher objective response rate (ORR), and disease control rate (DCR). The study also revealed that baseline serum myeloperoxidase (MPO) might be a predictive biomarker for the treatment's effectiveness. CM24, combined with nivolumab and standard chemotherapy, showed promising results. Management will outline future plans for CM24, followed by a Q&A session.
Purple Biotech announced the closing of an exercise of existing warrants, resulting in gross proceeds of approximately $2 million. The company issued new unregistered Series A-1 and A-2 warrants in consideration for the exercise of the existing ones.
The new warrants are exercisable immediately, with varying terms of twenty-four months to five years, and an exercise price of $0.40 per ADS. Net proceeds will fund oncology therapeutic candidates' development and general corporate purposes.
Purple Biotech announced the exercise of existing warrants, generating approximately $2 million in gross proceeds. The exercised warrants, initially priced between $1.25 to $20.00 per ADS, were reduced to $0.36 per ADS. This exercise involves 5,633,509 ADSs. In return, Purple Biotech will issue new Series A-1 and A-2 warrants, allowing the purchase of an additional 4,979,383 and 6,287,635 ADSs at $0.40 per ADS. The A-1 warrants have a five-year term, and the A-2 warrants have a 24-month term. The proceeds will fund oncology therapeutic development and general corporate purposes. The offering is compliant with regulatory standards, closing expected by July 2, 2024, with H.C. Wainwright & Co. as the exclusive placement agent.
Purple Biotech announced positive interim results from its Phase 2 pancreatic cancer study with CM24, nivolumab, and standard chemotherapy. The data, presented at the 2024 ASCO meeting, showed a 26% reduction in death risk and a 28% reduction in progression or death risk in the CM24 combination arm versus standard chemotherapy alone. Median overall survival (OS) was extended by 2.1 months, and median progression-free survival (PFS) was extended by 1.9 months. Additionally, the study found higher objective response rates (25% vs 7%) and disease control rates (63% vs 40%) in the combination arm. Baseline serum myeloperoxidase (MPO) levels may predict survival improvement. Further results are expected in the second half of 2024, with a KOL event scheduled for July 11, 2024.
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