Panbela Announces Closing of Approximately $9.0 Million Public Offering
01 2월 2024 - 9:00PM
Panbela Therapeutics, Inc. (Nasdaq: PBLA), a
clinical stage company developing disruptive therapeutics for the
treatment of patients with urgent unmet medical needs, today
announced the closing of its previously announced public offering
of (i) 4,375,000 shares of its common stock or pre-funded warrants
in lieu thereof and (ii) two classes of warrants to purchase up to
an aggregate of 8,750,000 shares of its common stock (the “Public
Warrants”) at a purchase price of $2.06 per share and associated
Public Warrants and $2.059 per pre-funded warrant and associated
Public Warrants. The pre-funded warrants have an exercise price of
$0.001 per share. The Public Warrants have an exercise price of
$2.06 per share, are exercisable upon issuance, and will expire
five years following the date of issuance. The Public Warrants do
not have any alternative cashless exercise or other provisions to
adjust their exercise price beyond customary proportionate
adjustments for recapitalizations and similar events.
Roth Capital Partners acted as sole placement agent of the
offering.
Gross proceeds, before deducting placement agent fees and
commissions and offering expenses, were approximately $9.0 million.
The Company intends to use the net proceeds from the proposed
offering for the continued clinical development of its product
candidates, working capital, business development and other general
corporate purposes, which may include repayment of debt.
The securities described above were offered pursuant to a
registration statement on Form S-1 (File No. 333-276367), as
amended, that was declared effective by the U.S. Securities and
Exchange Commission (“SEC”), on January 26, 2024. The
offering was made solely by means of a prospectus. Copies of the
accompanying prospectus relating to and describing the terms of the
offering may be obtained at the SEC’s website at www.sec.gov
or by contacting Roth Capital Partners, LLC, 888 San Clemente
Drive, Suite 400, Newport Beach, CA 92660 or by email at
rothecm@roth.com.
This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction. Any offer,
if at all, will be made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement.
About PanbelaPanbela Therapeutics, Inc. is a
clinical-stage biopharmaceutical company developing disruptive
therapeutics for patients with urgent unmet medical needs.
Panbela’s lead assets are Ivospemin (SBP-101) and Flynpovi. Further
information can be found at
www.panbela.com. Panbela’s common
stock is listed on The Nasdaq Stock Market LLC under the symbol
“PBLA”.
Cautionary Statement Regarding Forward-Looking
StatementsThis press release contains “forward-looking
statements,” including within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements can be
identified by words such as: “anticipate,” “believe,” “can,”
“design,” “expect,” “focus,” “intend,” “looking forward,” “may,”
“plan,” “positioned,” “potential,” and “will.” All statements other
than statements of historical fact are statements that should be
deemed forward-looking statements. Forward-looking statements are
neither historical facts nor assurances of future performance.
Instead, they are based only on our current beliefs, expectations,
and assumptions regarding the future of our business, future plans
and strategies, projections, anticipated events and trends, the
economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict and many of which are outside of our control.
Our actual results and financial condition may differ materially
and adversely from the forward-looking statements. Therefore, you
should not rely on any of these forward-looking statements.
Important factors that could cause our actual results and financial
condition to differ materially from those indicated in the
forward-looking statements include, among others, the following:
(i) our ability to obtain additional funding to execute our
business and clinical development plans; (ii) progress and success
of our clinical development program; (iii) the impact of the
current COVID-19 pandemic on our ability to conduct our clinical
trials; (iv) our ability to demonstrate the safety and
effectiveness of our product candidates: ivospemin (SBP-101) and
eflornithine (CPP-1X); (v) our reliance on a third party for the
execution of the registration trial for our product candidate
Flynpovi ; (vi) our ability to obtain regulatory approvals for our
product candidates, SBP-101 and CPP-1X in the United States, the
European Union or other international markets; (vii) the market
acceptance and level of future sales of our product candidates,
SBP-101 and CPP-1X; (viii) the cost and delays in product
development that may result from changes in regulatory oversight
applicable to our product candidates, SBP-101 and CPP-1X; (ix) the
rate of progress in establishing reimbursement arrangements with
third-party payors; (x) the effect of competing technological and
market developments; (xi) the costs involved in filing and
prosecuting patent applications and enforcing or defending patent
claims; (xii) our ability to maintain the listing of our common
stock on a national securities exchange; and (xiv) such other
factors as discussed in Part I, Item 1A under the caption “Risk
Factors” in our most recent Annual Report on Form 10-K, any
additional risks presented in our Quarterly Reports on Form 10-Q
and our Current Reports on Form 8-K. Any forward-looking statement
made by us in this press release is based on information currently
available to us and speaks only as of the date on which it is made.
We undertake no obligation to publicly update any forward-looking
statement or reasons why actual results would differ from those
anticipated in any such forward-looking statement, whether written
or oral, whether as a result of new information, future
developments or otherwise.
Contact Information:
Investors:James CarbonaraHayden IR(646)
755-7412james@haydenir.com
Media:Tammy GroenePanbela Therapeutics, Inc.(952)
479-1196IR@panbela.com
Panbela Therapeutics (NASDAQ:PBLA)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Panbela Therapeutics (NASDAQ:PBLA)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024