Why Panbela Therapeutics Shares Are Trading Higher Today

Panbela Therapeutics PBLA shares are trading higher on Wednesday after the company announced the first patient has been enrolled in the Phase II trial of CPP-1X-T.

CPP-1X, also known as eflornithine, is being developed as a single agent tablet or high dose powder sachet for various indications, including prevention of gastric cancer, treatment of neuroblastoma, and recent onset Type 1 diabetes. Preclinical studies and Phase 1 or Phase 2 investigator-initiated trials have suggested that CPP-1X treatment may be well-tolerated and has potential activity.

This study is to evaluate CPP-1X-T (Eflornithine tablets) for recent onset type 1 diabetes. The clinical trial is being conducted across multiple sites and is led by researchers at Indiana University School of Medicine. The study is funded by JDRF, a global organization for type 1 diabetes research and advocacy.

"Some 1.45 million Americans are living with T1D. in the U.S., and there are $16 billion in T1D-associated healthcare expenditures and lost income annually. We are excited for the opportunity to test and validate our therapies in T1D and the potential of this Phase II Trial to provide better treatment options for this patient population," said Jennifer K. Simpson, PhD, MSN, CRNP, President & CEO of Panbela.

Panbela Therapeutics is a clinical stage company developing disruptive therapeutics for the treatment of patients with urgent unmet medical needs.

PBLA Price Action: Panbela Therapeutics has a 52-week high of 84.4 and a 52-week low of $0.32.

Panbela Therapeutics shares are up 33.4% at $0.58 at the time of writing, according to Benzinga Pro.