Panbela Therapeutics Inc (NASDAQ:PBLA) shares are trading higher by 9.7% to $0.50, though off the session high of $0.64. The move comes after the company announced FDA approval of eflornithine, a drug they divested to US WorldMeds, for treating high-risk neuroblastoma patients who responded partially to prior therapies.
Panbela Therapeutics says this marks the first FDA approval for a polyamine targeted therapy in cancer. Panbela stands to receive up to $9.5 million based on milestones achieved by USWM, emphasizing the significance of polyamines in cancer therapy.
Panbela’s executives expressed excitement over the approval, highlighting its potential impact on neuroblastoma treatment and the broader implications for other cancers being explored.
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According to data from Benzinga Pro, PBLA has a 52-week high of $225.71 and a 52-week low of $0.45.
