H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Panbela Therapeutics (PBLA – Research Report) today and set a price target of $16.00.
Joseph Pantginis has given his Buy rating due to a combination of factors that bode well for Panbela Therapeutics’ future. The primary reason being the company’s proactive advancement of their clinical pipeline, with multiple studies and trials underway. Notable among these are the Phase 3 ASPIRE interim data for Ivospemin and the Phase 1 study focusing on Ivospemin in platinum-resistant ovarian cancer. Both of these studies indicate a promising future for the company’s drug portfolio.
Moreover, the analyst’s confidence in the company is also bolstered by Panbela’s recent financial maneuvers. A notable example is the exercise of Panbela warrants by certain holders, which has increased the company’s liquidity by equating to 2,130,000 shares of common stock. Furthermore, an agreement with US WorldMeds that entitles Panbela to potential payments up to $9.1 million upon completion of future milestones also adds to Pantginis’s positive outlook. Despite acknowledging the company’s heightened financing risk, Pantginis believes these factors collectively justify a Buy rating for the company’s stock.
According to TipRanks, Pantginis is an analyst with an average return of -14.2% and a 26.14% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as PDS Biotechnology, Clene, and Ligand Pharma.
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Panbela Therapeutics (PBLA) Company Description:
Sun BioPharma Inc. is a clinical-stage drug development company, which engages in the development of disruptive therapeutics for medical purposes. It focuses on development programs that target diseases of the pancreas, including pancreatic cancer and pancreatitis. The company was founded by Michael Cullen and Thomas Neenan on September 21, 2011 and is headquartered in Waconia, MN.
Read More on PBLA:
- Panbela Provides Business Update and Reports Q3 2023 Financial Results
- Panbela Therapeutics Announces Exercise of Warrants and Issuance of New Warrants in a Private Placement for $1.9 Million Gross Proceeds Priced At-the-Market
- Panbela Therapeutics announces exercise of warants, issuance of new warrants
- Panbela announces publication of preclinical, clinical data of CPP-1X
- Panbela Announces Publication of Preclinical and Clinical Data Titled: Inhibition of Polyamine Biosynthesis Preserves β Cell Function in Type 1 Diabetes
