What's Going On With Panbela Therapeutics Stock?

Panbela Therapeutics, Inc. PBLA shares are trading higher on very heavy volume Friday. Here’s a look at what’s going on.

What To Know:

According to data from Benzinga Pro, more than 9.55 million Panbela shares have already been traded in the session, compared to the stock’s 100-day average volume of just over 293,000 shares.

Panbela Therapeutics has a float of only 480,324 shares after the company effected a 1-for-20 reverse split on Jan. 18. Heavy trading volume combined with the small float may be contributing to the stock’s large move on Friday.

Panbela announced it has reached 50% enrollment for its Aspire global clinical trial in the first-line treatment of metastatic pancreatic cancer on Thursday.

“We’re thrilled to have surpassed 50% enrollment for the ASPIRE trial and to be moving faster than originally projected,” said Jennifer K. Simpson, PhD, MSN, CRNP, CEO of Panbela.

“As we have reached the near full complement of sites open and enrolling, we have seen a steady cadence of enrollment, expecting full enrollment to be completed by Q1 2025. We are looking forward to the interim data analysis based on overall survival in mid-2024.”

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PBLA Price Action: According to Benzinga Pro, Panbela Therapeutics shares are up 24.8% at $4.05 at the time of publication.

Image: Mohamed Hassan from Pixabay