Panbela Therapeutics, Inc. (OTCQB: PBLA) has announced a $12.0 million financing commitment from Nant Capital, alongside updates on its clinical programs, including the commencement of a Phase I study of CPP-1X-S in STK11 mutant non-small cell lung cancer (NSCLC) and the ongoing Phase III ASPIRE trial for ivospemin in metastatic pancreatic cancer. The investment from Nant Capital signals potential new scientific collaborations, including combining Panbela's polyamine pathway targeting approach with cutting-edge immunotherapy platforms.
Strategic Investment from Nant Capital
The $12 million investment from Nant Capital is expected to facilitate further development of Panbela's clinical programs. Jennifer K. Simpson, PhD, MSN, CRNP, President & CEO of Panbela, noted that the investment could lead to new scientific collaborations, potentially combining their polyamine pathway targeting approach with immunotherapy platforms.
Patrick Soon-Shiong, M.D., Founder of Nant Capital, expressed confidence in the potential of combining Panbela's polyamine metabolic inhibitor platform with immunotherapy approaches to address solid tumors. He highlighted the potential synergies between Panbela's assets, including ivospemin, eflornithine, and Flynpovi, and ImmunityBio's natural killer cell and killer T cell activation technology.
CPP-1X-S in STK11 Mutant NSCLC
Panbela has initiated a Phase I dose escalation study to evaluate CPP-1X-S (eflornithine sachets) in patients with STK11 mutant non-small cell lung cancer (NSCLC). This study marks an expansion of Panbela's clinical programs and aims to broaden the application of their polyamine metabolic inhibitor technology.
ASPIRE Trial Update
The Phase III ASPIRE trial, evaluating ivospemin in metastatic pancreatic cancer, is progressing. The company noted a lower event rate, suggesting potential improved survival outcomes for patients. Interim analysis of the ASPIRE trial is still on track for Q1 2025.
Ivospemin is a proprietary polyamine analogue designed to induce polyamine metabolic inhibition (PMI). Prior clinical studies of metastatic pancreatic cancer patients demonstrated a median overall survival (OS) of 14.6 months and an objective response rate (ORR) of 48%, exceeding typical results for the standard of care of gemcitabine + nab-paclitaxel.
Financial Results for Q3 2024
Panbela reported general and administrative expenses of approximately $1.1 million for the quarter, nearly flat compared to the same period last year. Research and development expenses were approximately $6.0 million, compared to $6.7 million in the same period last year. The net loss for the quarter was approximately $7.2 million, or $1.48 per diluted share, compared to a net loss of $7.8 million, or $53.74 per diluted share, in the same period last year. Total cash was $142,000 as of September 30, 2024, not including any investment from Nant Capital, as the agreement and initial loan were executed after September 30, 2024.
