Purple Biotech Ltd Stock Price, News & Analysis

Purple Biotech Ltd. (NASDAQ/TASE: PPBT) announced on February 14, 2023, that the first patient has been dosed in the randomized segment of its Phase 2 clinical trial for CM24 targeting advanced metastatic pancreatic cancer (PDAC). This trial evaluates the efficacy of CM24, a first-in-class monoclonal antibody, in combination with nivolumab and standard chemotherapy versus standard chemotherapy alone. The study aims to enroll around 60 patients across 11 sites in the US, Spain, and Israel, with interim results expected in the second half of 2023 and a topline report by the end of 2024. No dose-limiting toxicities were reported during the safety run-in phase.

Purple Biotech announced its financial results for the year ended December 31, 2022, reporting a net loss of $21.8 million, or $1.20 per share, an increase from $18.5 million in 2021. R&D expenses grew to $16.3 million, a 38.1% increase due to ongoing clinical trials. The company enhanced its product pipeline by acquiring Immunorizon, expanding its tri-specific antibody portfolio, and anticipates data readouts from its CM24 and NT219 programs in 2023. As of year-end 2022, Purple Biotech had cash reserves of $31.7 million, sufficient to finance operations into the second half of 2024.

Purple Biotech Ltd. (NASDAQ/TASE: PPBT) announced the acquisition of Immunorizon Ltd., a clinical-stage company focused on multi-specific T and NK cell engager oncology therapies. The deal involves an upfront payment of $3.5 million in cash and another $3.5 million in American Depository Shares, with potential additional payments reaching $100 million based on future milestones. The acquisition enhances Purple Biotech's portfolio with Immunorizon’s tri-specific antibody targeting the 5T4 antigen, promising improved therapeutic outcomes for cancer patients. The closing of the transaction is pending customary conditions within 10 business days.

Purple Biotech (NASDAQ/TASE: PPBT) has announced a collaboration with Mor Research Applications, enabling access to oncology research from 14 hospitals under Clalit Healthcare Services, Israel’s largest HMO. This partnership allows Purple Biotech to explore early-stage oncology assets for potential in-licensing and development, expanding its pipeline of novel therapies. CEO Gil Efron emphasized the importance of this collaboration for accessing innovative treatments, aiming to bring first-in-class options to cancer patients globally.

Purple Biotech (NASDAQ/TASE: PPBT) announced promising preclinical results for CM24, an innovative monoclonal antibody targeting CEACAM1, presented at the AACR Special Conference in Portland, Oregon, from November 14-17, 2022. The data reveal CM24's capability to significantly suppress neutrophil extracellular trap (NET)-induced cancer cell migration and metastasis. Currently in Phase 2 for metastatic pancreatic cancer, CM24 exhibits potential as an anti-cancer and anti-metastatic treatment. CEO Gil Efron highlighted CM24's unique mechanism as a promising advancement in cancer therapy.

Purple Biotech (NASDAQ/TASE: PPBT) announced a corporate overview presentation at the Jefferies London Healthcare Conference on November 16, 2022, at 7:25 am GMT. The presentation will cover the Company’s clinical development programs, including therapies targeting tumor immune evasion and drug resistance. Noteworthy projects include NT219, a dual inhibitor currently in Phase 1/2 trials, and CM24, a monoclonal antibody in Phase 2 studies. Both therapies are key components of Purple Biotech's oncology pipeline aimed at enhancing cancer treatment effectiveness.

Purple Biotech (NASDAQ/TASE: PPBT) announced its Q3 2022 financial results, revealing a net loss of $4.8 million, or $0.27 per ADS, compared to a net loss of $3.1 million in Q3 2021. Research and development expenses surged 118.8% to $3.5 million, primarily due to increased clinical trial costs. The company maintains a strong cash position with $35.7 million on hand, ensuring operational stability through 2024. Key clinical updates include amendments to the CM24 trial design and ongoing evaluations for NT219.

Purple Biotech Ltd. (NASDAQ/TASE: PPBT) announces the appointment of Lior Fhima as Chief Financial Officer. With extensive experience in the pharmaceutical industry, Fhima aims to enhance the company's growth and maintain investor relationships. The firm currently has a robust financial position, projected to last through 2024. Under Fhima's leadership, Purple Biotech seeks to advance its clinical development programs for its oncology pipeline, including NT219 and CM24, targeting tumor immune evasion and drug resistance.

Purple Biotech (PPBT) reported Q2 financial results on August 4, 2022. The company maintains a cash position of $38.7 million, ensuring a cash runway through late 2024. Operating loss for Q2 remained at $3.6 million, consistent with 2021, while net loss also held steady at $3.6 million, or $0.20 per ADS. R&D expenses rose 15.9% year-over-year to $8 million for the first half of 2022. Key developments include advances in clinical trials for lead assets NT219 and CM24, aiming to expand treatment indications while maintaining financial stability.