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.
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.
Purple Biotech Ltd. (NASDAQ/TASE: PPBT) reported its financial results for 2021, highlighting significant advancements in its oncology pipeline. The company is currently conducting Phase 1/2 trials for NT219 and CM24, with encouraging preliminary data. Financially, Purple Biotech experienced a net loss of $18.5 million, or $1.05 per share, a decrease from a net loss of $28 million in 2020. Cash reserves totaled $47.4 million, providing a runway into 2024. However, the discontinuation of Consensi, due to low revenue prospects, impacted 2021 results, reporting a loss of $0.6 million from discontinued operations.
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.
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