Purple Biotech Ltd Stock Price, News & Analysis

Purple Biotech (NASDAQ: PPBT) reported a successful 2021, laying a foundation for future growth in cancer therapies. CEO Isaac Israel highlighted advancements in their clinical pipeline, especially with lead assets CM24 and NT219, which are poised for significant data readouts in 2022. The company maintains a robust financial position with $47.5 million in cash reserves. Collaborations with Bristol Myers-Squibb and The University of Texas MD Anderson Cancer Center enhance their development strategy. Overall, 2022 is projected to be a pivotal year for Purple Biotech as they continue progressing in oncology.

Purple Biotech announced the appointment of Ori Hershkovitz to its Board of Directors, aiming to leverage his extensive experience in life sciences investment. Hershkovitz has a successful history in managing substantial healthcare assets, and he expressed enthusiasm for the company’s oncology pipeline, which includes NT219 and CM24. These therapies are designed to target tumor immune evasion and drug resistance, promising potential benefits for cancer patients. The leadership change is expected to enhance corporate growth initiatives and shareholder value.

Purple Biotech announced the appointment of Fabien Sebille, Ph.D., as its Chief Business Officer. Dr. Sebille, with over 15 years in the biotechnology sector and a proven track record in oncology licensing deals, will lead the company’s business development. His experience includes senior roles at Debiopharm and co-founding TcLand Expression. The appointment aims to enhance strategic partnerships and advance Purple Biotech’s oncology pipeline, notably CM24 and NT219. The company is in a strong financial position and focused on driving long-term shareholder value.

Purple Biotech (NASDAQ/TASE: PPBT) announced the initiation of Part 2 of its Phase 1/2 clinical trial for NT219, a dual inhibitor targeting IRS1/2 and STAT3, in combination with cetuximab for treating recurrent or metastatic squamous cell carcinoma of the head and neck or colorectal adenocarcinoma. Part 1 has progressed well, with good safety and promising efficacy signals. Initial data support expanding the study, with further efficacy results expected in mid-2022, and potential new indications anticipated in the latter half of 2022.

Purple Biotech (NASDAQ/TASE: PPBT), a clinical-stage company focused on innovative cancer therapies, will present a corporate overview at the Jefferies London Healthcare Conference on November 17, 2021, at 12:20 pm GMT. The conference runs from November 16-19, 2021, with opportunities for one-on-one meetings. Purple Biotech is advancing therapies to overcome tumor immune evasion and drug resistance, including NT219 and CM24, which target various cancer indications. A replay of the presentation will be available on the company’s website.

Purple Biotech (NASDAQ/TASE: PPBT) has announced the expansion of its research collaboration with The University of Texas MD Anderson Cancer Center to assess the efficacy of NT219 combined with immuno-oncology agents. NT219, a dual inhibitor targeting IRS1/2 and STAT3, has shown promise in overcoming treatment resistance in preclinical studies. This collaboration aims to translate these findings into clinical applications, potentially converting resistant tumors into responsive ones. Positive initial clinical data from NT219 monotherapy was also presented at ASCO 2021, further supporting its advancement.

Purple Biotech (NASDAQ: PPBT) announced a publication in Nature Cancer, revealing insights into cancer cell resistance mechanisms linked to IRS1. The study demonstrated that NT219, a dual inhibitor targeting IRS1/2 and STAT3, combined with anti-EGFR therapy, enhances tumor regression and delays recurrence. The publication outlines how IRS1 phosphorylation influences EGFR inhibition persistence, indicating NT219's potential in overcoming drug resistance. This supports ongoing Phase 1/2 clinical trials of NT219 in treating squamous cell carcinoma of the head and neck and colorectal adenocarcinoma.

Purple Biotech (NASDAQ/TASE: PPBT) announced encouraging results from its ongoing Phase 1b/2 clinical trial of CM24, a monoclonal antibody for advanced cancer treatment. One patient with refractory pancreatic cancer showed a partial response with a 40% reduction in tumor size after two courses of CM24 combined with nivolumab, alongside a 56% decrease in CA19-9 tumor marker levels. The second dose cohort has completed enrollment, and the study is expanding to new U.S. and Israeli sites. Top-line data suggests that CM24 is both safe and potentially effective.

Purple Biotech (PPBT) reported no revenue for the six months ended June 30, 2021, compared to $1 million in the same period of 2020. Operating loss increased by 139% to $10.3 million, driven by rising research and development costs related to ongoing clinical trials for NT219 and CM24. Despite these challenges, the company has a solid financial position with $53.4 million in cash, projected to last through 2024. Initial clinical trial results for NT219 showed promising safety and efficacy, including a complete remission in one patient. The company aims to provide additional trial data later this year.