Purple Biotech Ltd Stock Price, News & Analysis

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.

Purple Biotech (NASDAQ/TASE: PPBT) announced the appointment of Gil Efron as Chief Executive Officer, effective July 10, 2022. This follows the transition of Isaac Israel to an advisory role while remaining a board member. Efron, previously the President and CFO, emphasized the company’s commitment to developing innovative cancer therapies, including its leading assets NT219 and CM24. The leadership change aims to drive growth as the company progresses through key clinical trials.

Purple Biotech (NASDAQ/TASE: PPBT) announced positive interim data from its Phase 1 study of NT219 for advanced solid tumors. The results showed a confirmed partial response in a patient with gastroesophageal junction cancer treated for 22 weeks, with stable disease observed in 75% of patients with mutated-KRAS colon cancer. The company is advancing plans to study NT219 in combination with cetuximab for metastatic cancers. As of May 12, 2022, 14 patients were enrolled, with no Grade 4 adverse events reported.

Purple Biotech (NASDAQ/TASE: PPBT) announced the initiation of the Phase 2 study for CM24, a monoclonal antibody targeting pancreatic cancer. This decision follows positive interim Phase 1b data, showing confirmed response rates and a favorable safety profile. The study will prioritize pancreatic ductal adenocarcinoma (PDAC) in collaboration with Bristol Myers Squibb, allowing for an increased number of participants and an accelerated timeline to complete the trial by 2023. This advancement is expected to extend Purple Biotech's cash runway through 2024.

Purple Biotech, listed as PPBT, reported Q1 2022 financial results, highlighting a net loss of $7.3 million, or $0.41 per ADS, compared to a loss of $6.6 million, or $0.38 per ADS, in Q1 2021. Research and Development expenses increased by 22% to $6.0 million, primarily due to CMC costs. However, Sales, General, and Administrative expenses decreased to $1.4 million. The company had $42.2 million in cash and equivalents at the end of Q1. Clinical advancements include completing enrollment for NT219 and initiating expansion arms for CM24.

Purple Biotech (NASDAQ/TASE: PPBT) has reported promising safety and efficacy results for CM24, a first-in-class monoclonal antibody, in combination with Opdivo® (nivolumab) for treating advanced solid tumors, including pancreatic cancer (PDAC). In a Phase 1b study presented at the AACR 2022 Annual Meeting, none of the 11 patients experienced dose-limiting toxicities. The treatment yielded one confirmed partial response and three stable disease results, indicating a 36% disease control rate. Pharmacokinetics showed dose-proportional exposure, paving the way for further clinical development.