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Purple Biotech Ltd. American Depositary Shares - PPBT STOCK NEWS

Welcome to our dedicated page for Purple Biotech Ltd. American Depositary Shares news (Ticker: PPBT), a resource for investors and traders seeking the latest updates and insights on Purple Biotech Ltd. American Depositary Shares stock.

Purple Biotech Ltd. (NASDAQ/TASE: PPBT) is a clinical-stage company based in Rehovot, Israel, dedicated to developing innovative cancer therapies that harness the tumor microenvironment to overcome immune evasion and drug resistance. The company's oncology pipeline includes two main drug candidates, CM24 and NT219, along with a pioneering platform of conditionally-activated tri-specific antibodies.

CM24 is a multi-functional immune checkpoint inhibitor undergoing Phase 2 clinical trials for the treatment of pancreatic ductal adenocarcinoma (PDAC). This study, in collaboration with Bristol Myers Squibb, is evaluating CM24 combined with nivolumab and chemotherapy as a second-line treatment. The primary endpoint is overall survival, with interim results expected by mid-2024 and topline data by the end of the same year.

NT219 is a small molecule dual inhibitor targeting IRS1/2 and STAT3. It has shown promising results in a Phase 1/2 dose escalation study for recurrent/metastatic squamous cell carcinoma of the head and neck (R/M SCCHN). A Phase 2 study is planned for NT219 in combination with cetuximab, set to begin in the first half of 2024.

Additionally, Purple Biotech’s tri-specific antibody platform aims to conditionally activate T cells and natural killer (NK) cells within the tumor microenvironment. The platform's lead candidate, IM1240, targets 5T4, a tumor-associated antigen, and is designed to induce a localized immune response while minimizing off-tumor side effects.

Recent financial reports indicate that Purple Biotech has a solid cash runway into the first half of 2025, thanks to strategic funding and partnerships. The company’s research and development expenses have seen a slight increase due to ongoing clinical trials, while selling, general, and administrative expenses have decreased.

For more detailed information and the latest updates, visit Purple Biotech’s website.

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Purple Biotech Ltd. (NASDAQ/TASE: PPBT) announced that CEO Gil Efron is on medical leave due to an accident, with Isaac Israel appointed as acting CEO. The company emphasizes that its business plan and clinical development programs will proceed as scheduled. The announcement reassures stakeholders about continuity and stability during this transition. Purple Biotech focuses on developing therapies that tackle tumor immune evasion and drug resistance, with a pipeline including NT219 and CM24 in various clinical stages. The company remains committed to its 2023 objectives despite the leadership change.

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Purple Biotech Ltd. (NASDAQ/TASE: PPBT) announced results from a Phase 1 dose escalation study involving CM24 plus nivolumab, indicating promising potential in treating advanced cancers. The trial enrolled 14 patients, primarily with pancreatic adenocarcinoma, showing durable reductions in serum myeloperoxidase, a NETs biomarker. Higher CEACAM1+ lymphocyte levels correlated with improved survival rates. This study supports a biomarker-driven strategy for patient selection. CM24, a novel monoclonal antibody, targets immune evasion pathways, and is being evaluated in a Phase 2 study for metastatic pancreatic cancer. Further results will be shared at an upcoming conference.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of Purple Biotech Ltd. American Depositary Shares (PPBT)?

The current stock price of Purple Biotech Ltd. American Depositary Shares (PPBT) is $3.7 as of December 23, 2024.

What is the market cap of Purple Biotech Ltd. American Depositary Shares (PPBT)?

The market cap of Purple Biotech Ltd. American Depositary Shares (PPBT) is approximately 8.4M.

What is Purple Biotech Ltd. focused on?

Purple Biotech Ltd. focuses on developing first-in-class therapies to overcome tumor immune evasion and drug resistance, particularly for cancer treatment.

What are the main drug candidates in Purple Biotech's pipeline?

The main drug candidates are CM24 and NT219. CM24 is an immune checkpoint inhibitor for pancreatic cancer, while NT219 is a dual inhibitor targeting IRS1/2 and STAT3 for head and neck cancer.

What is CM24?

CM24 is a multi-functional immune checkpoint inhibitor currently in Phase 2 clinical trials for treating pancreatic ductal adenocarcinoma (PDAC).

What is NT219?

NT219 is a small molecule dual inhibitor targeting IRS1/2 and STAT3, currently being tested in combination with cetuximab for head and neck cancer.

What is unique about Purple Biotech’s tri-specific antibody platform?

This platform conditionally activates T cells and NK cells within the tumor microenvironment, aiming to induce a strong localized immune response while minimizing off-tumor side effects.

What recent milestones has Purple Biotech achieved?

Recent milestones include completing patient enrollment ahead of schedule for the Phase 2 CM24 study and determining the recommended Phase 2 dose for NT219 in combination with cetuximab.

What are Purple Biotech's financial highlights?

Purple Biotech has a cash runway into the first half of 2025, with increased research and development expenses due to ongoing trials and decreased selling, general, and administrative expenses.

Who are Purple Biotech's key partners?

Purple Biotech collaborates with Bristol Myers Squibb for the Phase 2 clinical trials of CM24.

Where is Purple Biotech headquartered?

Purple Biotech is headquartered in Rehovot, Israel.

Where can I find more information about Purple Biotech?

You can find more information on Purple Biotech’s website at https://purple-biotech.com/.

Purple Biotech Ltd. American Depositary Shares

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