Q1 2024 Panbela Therapeutics Inc Earnings Call Transcript
Key Points
- ASPIRE trial enrollment has surpassed 50% and is proceeding faster than anticipated, with full enrollment expected by Q1 2025.
- Lower-than-expected event rate in the ASPIRE trial suggests prolonged survival for patients, indicating potential efficacy of ivospemin.
- Successful divestiture of assets from the eflornithine pediatric neuroblastoma program to US WorldMeds, securing upfront and milestone payments.
- Completed enrollment in the PACES trial for colorectal cancer prevention, with data expected in the second half of 2026.
- Received a new patent in the US and Canada for a fixed dose combination of eflornithine and sulindac, strengthening the company's intellectual property portfolio.
- Net loss for Q1 2024 increased to $7.1 million from $5.1 million in Q1 2023, reflecting higher research and development expenses.
- Total cash as of March 31, 2024, was relatively low at approximately $260,000, raising concerns about short-term financial stability.
- Panbela's common stock was suspended from trading on Nasdaq and is now quoted on the OTCQB, potentially affecting investor confidence and capital raising capabilities.
- The company is facing a high burn rate, with significant cash used in operations, necessitating further fundraising to sustain activities.
- Delay in the interim analysis of the ASPIRE trial to Q1 2025, which may impact the timeline for potential regulatory approval and commercialization.
Good afternoon, everyone, and welcome to the Panbela Therapeutics first-quarter 2024 earnings call. (Operator Instructions) Please note, this conference is being recorded.
I will now turn the conference over to your host, James Carbonara, Investor Relations. James, over to you.
Thank you, operator. Joining me on today's call are Jennifer Simpson, Chief Executive Officer; and Sue Horvath, Chief Financial Officer .
Before we begin, please note that statements made on this call that are not historical facts may be considered forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed in the company's filings with the SEC.
Any forward-looking statements made on this call speak only as of today's date. And the company does not undertake any obligation to update or revise any of these statements to reflect future events or circumstances.
With that, I will turn
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