Q2 2024 Panbela Therapeutics Inc Earnings Call Transcript
Key Points
- The ASPIRE trial for ivospemin in combination with gemcitabine and nab-paclitaxel has received its third consecutive positive safety review from the DSMB.
- ASPIRE trial enrollment is progressing faster than anticipated, with full enrollment expected by Q1 2025.
- The company has successfully monetized assets from the eflornithine pediatric neuroblastoma program, receiving an additional $775,000.
- Panbela Therapeutics Inc (PBLA) has entered into a clinical trial agreement for a Phase 2 study of eflornithine in castration-resistant metastatic prostate cancer.
- The company is planning a Phase 2 trial to assess ivospemin in platinum-resistant ovarian cancer, with collaboration from Johns Hopkins University School of Medicine.
- General and administrative expenses were approximately $1.1 million in Q2 of 2024, indicating a decrease but still a significant cost.
- Research and development expenses increased to $7 million in Q2 of 2024, up from $4.2 million in the prior year quarter.
- Net loss for the quarter was $7.1 million, compared to a net loss of $5.8 million in Q2 of 2023.
- Total cash as of June 30, 2024, was approximately $59,000, indicating a tight cash position.
- Current liabilities were $16.8 million at quarter end, significantly higher than current assets of $0.8 million.
Good afternoon, everyone, and welcome to the Panbela Therapeutics second-quarter 2024 earnings call. (Operator Instructions)
It is now my pleasure to turn the floor over to your host, James Carbonara, of Investor Relations. Sir, the floor is yours.
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 the call over to the
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