U.S. markets closed

Purple Biotech Ltd. (PPBT)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
4.1400+0.0400 (+0.98%)
At close: 4:00PM EST
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Bearishpattern detected
Commodity Channel Index

Commodity Channel Index

Previous Close4.1000
Open4.2200
Bid4.0800 x 800
Ask4.1100 x 900
Day's Range3.7500 - 4.2200
52 Week Range2.2000 - 14.4000
Volume431,957
Avg. Volume889,922
Market Cap74.734M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est25.00
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
Research that delivers an independent perspective, consistent methodology and actionable insight
Related Research
View more
  • Purple Biotech Appoints Biopharmaceutical Industry Veteran Robert Gagnon to Board of Directors
    GlobeNewswire

    Purple Biotech Appoints Biopharmaceutical Industry Veteran Robert Gagnon to Board of Directors

    Rehovot, Israel, March 03, 2021 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. (“Purple Biotech”) (NASDAQ/TASE: PPBT), a clinical-stage company developing first-in-class, effective, and durable therapies by overcoming tumor immune evasion and drug resistance, today announced the appointment of Robert Gagnon to its Board of Directors. Mr. Gagnon has 15 years of experience in corporate finance and commercial operations, much of it in the biotech industry. Purple Biotech’s Board of Directors now includes seven members, five of whom are independent directors. Mr. Gagnon shall serve as a member of the first class of the Board of Directors until the annual general meeting of shareholders to be held in 2022, at which time he may stand for reelection. “We are delighted to have Rob join our Board of Directors,” said Dr. Eric Rowinsky, Chairman of the Board of Purple Biotech. “He brings vast global corporate finance expertise and strategy, and a strong track record of executive leadership in the biotech industry. As we approach key value-creating catalysts with our promising anti-cancer clinical product candidates, CM24 and NT219, we expect to utilize Rob’s extensive experience in order to continue advancing our mission of developing impactful therapeutics for cancer patients and creating long-term shareholder value.” "I am excited to be a part of the Purple Biotech Board of Directors," stated Mr. Gagnon. "I look forward to working with the other members of the Board and the Company’s experienced management team to continue advancing Purple’s clinical development programs and to help transform the upcoming clinical catalysts into significant commercial opportunities that will further support the growth of the Company." Mr. Gagnon currently serves as Chief Business and Financial Officer of Verastem Oncology, a biopharmaceutical company committed to advancing new medicines for patients battling cancer. Before joining Verastem in 2018, Mr. Gagnon served as the Chief Financial Officer at Harvard Bioscience, Inc. Prior to this, Mr. Gagnon served as Executive Vice President, Chief Financial Officer and Treasurer at Clean Harbors, Inc., as well as Chief Accounting Officer and Controller at Biogen Idec, Inc. Earlier in his career, Mr. Gagnon worked in a variety of senior positions at Deloitte & Touche, LLP, and Price Waterhouse Coopers, LLP. Mr. Gagnon holds an M.B.A. degree from the MIT Sloan School of Management and a Bachelor of Arts degree in accounting from Bentley College. About Purple BiotechPurple Biotech Ltd. (the “Company”; NASDAQ/TASE: PPBT) is a clinical-stage company focusing on advancing first-in-class therapies to overcome tumor immune evasion and drug resistance in order to create successful long-lasting treatments for people with cancer. The Company’s oncology pipeline includes NT219 and CM24. NT219 is a small molecule targeting the novel cancer drug resistance pathways IRS1/2 and STAT3. The Company is currently advancing NT219 as a monotherapy treatment of advanced solid tumors and in combination with cetuximab for the treatment of recurrent or metastatic squamous cell carcinoma of head and neck cancer (SCCHN) in a phase 1/2 study. CM24 is a monoclonal antibody blocking CEACAM1, a novel immune checkpoint that supports tumor immune evasion and survival through multiple pathways. The Company plans to advance CM24 as a combination therapy with anti-PD-1 checkpoint inhibitors in selected cancer indications in a phase 1 study followed by a phase 2 for the treatment of non-small cell lung cancer and pancreatic cancer. The Company has entered into a clinical collaboration agreement, as amended, with Bristol Myers Squibb for the planned phase 1/2 clinical trials to evaluate the combination of CM24 with the PD-1 inhibitor nivolumab (Opdivo®) in patients with non-small cell lung cancer and in combination with nivolumab in addition to nab-paclitaxel (ABRAXANE®) in patients with pancreatic cancer. The Company is also the owner of Consensi®, a fixed-dose combination of celecoxib and amlodipine besylate, for the simultaneous treatment of osteoarthritis pain and hypertension that was approved by the FDA for marketing in the U.S. Consensi® is being sold in the U.S. by Burke Therapeutics, the marketing partner of the Company’s U.S. distributor, Coeptis Pharmaceuticals. The Company has also partnered to commercialize Consensi in China and South Korea. The Company has recently relocated its corporate headquarters to Rehovot, Israel. For more information, please visit http://www.purple-biotech.com. Forward-Looking Statements and Safe Harbor Statement Certain statements in this press release that are forward-looking and not statements of historical fact are forward looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements that are not statements of historical fact, and may be identified by words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. You should not place undue reliance on these forward-looking statements, which are not guarantees of future performance. Forward-looking statements reflect our current views, expectations, beliefs or intentions with respect to future events, and are subject to a number of assumptions, involve known and unknown risks, many of which are beyond our control, as well as uncertainties and other factors that may cause our actual results, performance or achievements to be significantly different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause or contribute to such differences include, among others, risks relating to: the plans, strategies and objectives of management for future operations; product development for NT219 and CM24; the process by which early stage therapeutic candidates such as NT219 and CM24 could potentially lead to an approved drug product is long and subject to highly significant risks, particularly with respect to a joint development collaboration; the fact that drug development and commercialization involves a lengthy and expensive process with uncertain outcomes; our ability to successfully develop and commercialize our pharmaceutical products; the expense, length, progress and results of any clinical trials; the impact of any changes in regulation and legislation that could affect the pharmaceutical industry; the difficulty in receiving the regulatory approvals necessary in order to commercialize our products; the difficulty of predicting actions of the U.S. Food and Drug Administration or any other applicable regulator of pharmaceutical products; the regulatory environment and changes in the health policies and regimes in the countries in which we operate; the uncertainty surrounding the actual market reception to our pharmaceutical products once cleared for marketing in a particular market; the introduction of competing products; patents obtained by competitors; dependence on the effectiveness of our patents and other protections for innovative products; our ability to obtain, maintain and defend issued patents; the commencement of any patent interference or infringement action against our patents, and our ability to prevail, obtain a favorable decision or recover damages in any such action; and the exposure to litigation, including patent litigation, and/or regulatory actions, and other factors that are discussed in our Annual Report on Form 20-F for the year ended December 31, 2019 and in our other filings with the U.S. Securities and Exchange Commission ("SEC"), including our cautionary discussion of risks and uncertainties under "Risk Factors" in our Registration Statements and Annual Reports. These are factors that we believe could cause our actual results to differ materially from expected results. Other factors besides those we have listed could also adversely affect us. Any forward-looking statement in this press release speaks only as of the date which it is made. We disclaim any intention or obligation to publicly update or revise any forward-looking statement or other information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable law. You are advised, however, to consult any additional disclosures we make in our reports to the SEC, which are available on the SEC's website, http://www.sec.gov. Company Contact:Gil EfronDeputy CEO & Chief Financial OfficerIR@purple-biotech.com Investor Relations Contact:Chuck Padalachuck@lifesciadvisors.com+1 646-627-8390

  • Purple Biotech Provides Corporate Update and Reports Second Half and Full Year 2020 Financial Results
    GlobeNewswire

    Purple Biotech Provides Corporate Update and Reports Second Half and Full Year 2020 Financial Results

    Rehovot, Israel, March 02, 2021 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. (“Purple Biotech”) (NASDAQ/TASE: PPBT), a clinical-stage company developing first-in-class, effective, and durable therapies by overcoming tumor immune evasion and drug resistance, today provided a corporate update and announced financial results for the six and 12-months ended December 31, 2020. “We have recently achieved substantial progress in multiple key aspects of our business,” said Isaac Israel, Chief Executive Officer. “Most importantly, our promising anti-cancer product development pipeline continues to advance our Phase 1/2 clinical studies for NT219, a dual inhibitor, novel small molecule targeting IRS1/2 and STAT3. We completed patient recruitment of the second dose level in the single agent dose-escalation phase, demonstrating the drug to be safe and well tolerated in the treated patients. We expect to begin imminently our Phase 1b/2 studies for CM24, our monoclonal antibody drug candidate blocking CEACAM1, a novel immune checkpoint that supports tumor immune evasion and survival through multiple pathways. Our robust clinical development activities are supported by a strong balance sheet, as we raised $68.5 million in 2020, ended the year with $60.8 million in cash, and we believe we are well-funded to support our currently planned corporate initiatives until 2024.” “As part of the completion of our transformation to a corporate mission dedicated to developing first-in-class oncology therapies, we were honored to ring the Nasdaq stock market opening bell on January 5, 2021 to commemorate the successful evolution of our business and the Company’s name change to Purple Biotech. We are firmly committed to improving the lives of cancer patients globally, and look forward to executing on the opportunities that lie ahead of us in 2021 and beyond,” concluded Mr. Israel. Recent Corporate Highlights CM24: Expanded the planned Phase 1b/2 clinical trial evaluating CM24 in combination with nivolumab in advanced non-small cell lung cancer (NSCLC) with a new cohort that will evaluate CM24 in combination with both nivolumab and nab-paclitaxel (Abraxane®) in patients with pancreatic cancer under a clinical collaboration agreement with Bristol Myers Squibb.Advanced preparations to initiate the Phase 1b/2 study, which is expected to begin imminently. Received notifications from the U.S. Patent and Trademark Office, European Patent Office and the Chinese Patent Office to grant the patent application entitled "Humanized antibodies against CEACAM1," covering the humanized antibodies capable of specific binding to human CEACAM1 molecules, pharmaceutical compositions and methods of their use in treating and diagnosing cancer and other condition. Presented at the American Society of Clinical Oncology (ASCO) 2020 Virtual Scientific Program positive results of a Phase 1 study consisting of a monotherapy dose escalating of CM24, as CM24 was found to be safe and well tolerated in all patients. In the study of efficacy evaluable patients (n=24), subjects were highly refractory to prior therapy, having received between two and eight prior therapies (with a median of four). Eight of the evaluable patients (33%) achieved stable disease, with most of these patients treated at the higher dose levels of 3mg/kg and 10mg/kg. Pharmacokinetic analysis revealed non-linearity, and modeling suggested that a higher dose level is required to achieve full saturation of CEACAM1 receptors. NT-219: Initiated and dosed the first patient in the Phase 1/2 clinical trial of NT219.Presented new data supporting the mechanism of action of NT219 at the Epigenetics and Metabolism AACR Special Virtual Conference by researchers at Tel-Aviv University.Received notifications from the U.S. Patent and Trademark Office and the Chinese Patent Office to grant a patent application entitled "Combinations of IRS/STAT3 Dual Modulators and Anti-Cancer Agents for Treating Cancer,” covering the various combinations of NT219 with multiple EGFR inhibitors, including cetuximab (Erbitux®), which will be administrated in combination with NT219 for the treatment of recurrent or metastatic squamous cell carcinoma of the head as well as for neck cancer as part of our ongoing Phase 1/2 study, and osimertinib (TAGRISSO®), a 3rd generation EGFR inhibitor approved in the U.S. for first-line treatment of EGFR-mutated non-small-cell lung carcinoma (NSCLC). CONSENSI®: Growth of sales of Consensi® in the U.S. has been slow primarily due to the COVID-19 environment, with minor sales of the drug in the second half of 2020. In addition, our distribution partner has not fulfilled all of its obligations as per the distribution agreement. We are currently evaluating a re-launch program that will be designed to boost sales and maximize the value of Consensi® post-COVID-19. At this time, we are not able to provide revenue projections for the rest of 2021 and beyond. Financial Results for the Six Months Ended December 31, 2020Research and Development Expenses were $4.4 million, an increase of $3.4 million, or 342%, compared to $1.0 million in the same period of 2019. The increase was due to expenses related to the NT219 clinical trials initiated in 2020 and the preparation for the anticipated initiation of the CM24 clinical trials, including manufacturing costs. Selling, General and Administrative (SG&A) Expenses were $4.1 million, compared to $2.8 million in the same period of 2019, an increase of $1.3 million. The increase was due mainly to a $0.9 million increase in expenses related to stock options granted to directors and employees in the second and third quarters of 2020 and a $0.3 million increase in director and officer insurance expenses. Operating Loss was $8.3 million, an increase of $4.7 million, or 131%, compared to $3.6 million in the same period of 2019. On a non-IFRS basis (as reconciled below), adjusted operating loss was $6.4 million, an increase of $3.6 million, compared to $2.8 million in the same period of 2019. Net Loss for the second half of 2020 was $0.3 million, or $0.48 per diluted share, compared to a net loss of $3.3 million, or $1.70 per diluted share, in the second half of 2019. The decrease in net loss was due to $7.5 million in income from a change in the fair value of derivatives, partially offset by an increase of $4.5 million in operating expenses. Financial Results for the Full Year Ended December 31, 2020Revenues were $1.0 million for the year ended December 31, 2020, unchanged from the $1.0 million reported for the year ended December 31, 2019. Research and Development Expenses were $7.5 million, an increase of $4.8 million, or 180%, compared to $2.7 million for the year ended December 31, 2019. The increase was due to expenses related to the NT219 clinical trials initiated in 2020 and the preparation for the anticipated initiation of the CM24 clinical trials, including manufacturing costs. SG&A Expenses were $6.3 million, compared to $6.1 million for the year ended December 31, 2019. Operating Loss was $12.6 million, an increase of $5.5 million, or 76%, compared to $7.2 million for the year ended December 31, 2019. On a non-IFRS basis (as reconciled below), adjusted operating loss was $10.0 million, compared to $5.9 million, an increase of $4.1 million, for the year ended December 31, 2019. Net Loss for the year ended December 31, 2020, was $28.1 million, or $2.44 per diluted share, compared to a net loss of $5.9 million, or $3.00 per diluted share, in the same period of 2019. The increase was due to $17.1 million increase in expenses on account of warrants mainly from a change in the fair value of derivatives and an increase of $4.8 million in R&D expenses. As of December 31, 2020, Purple Biotech had cash and cash equivalents and short- and long-term deposits of $60.8 million, compared to $4.4 million at December 31, 2019. Purple Biotech believes that its cash position will provide sufficient resources for its currently anticipated ongoing needs until fiscal year 2024. About Purple Biotech Purple Biotech Ltd. (the “Company”; NASDAQ/TASE: PPBT) is a clinical-stage company focusing on advancing first-in-class therapies to overcome tumor immune evasion and drug resistance in order to create successful long-lasting treatments for people with cancer. The Company’s oncology pipeline includes NT219 and CM24. NT219 is a small molecule targeting the novel cancer drug resistance pathways IRS1/2 and STAT3. The Company is currently advancing NT219 as a monotherapy treatment of advanced solid tumors and in combination with cetuximab for the treatment of recurrent or metastatic squamous cell carcinoma of head and neck cancer (SCCHN) in a phase 1/2 study. CM24 is a monoclonal antibody blocking CEACAM1, a novel immune checkpoint that supports tumor immune evasion and survival through multiple pathways. The Company plans to advance CM24 as a combination therapy with anti-PD-1 checkpoint inhibitors in selected cancer indications in a phase 1 study followed by a phase 2 for the treatment of non-small cell lung cancer and pancreatic cancer. The Company has entered into a clinical collaboration agreement, as amended, with Bristol Myers Squibb for the planned phase 1/2 clinical trials to evaluate the combination of CM24 with the PD-1 inhibitor nivolumab (Opdivo®) in patients with non-small cell lung cancer and in combination with nivolumab in addition to nab-paclitaxel (ABRAXANE®) in patients with pancreatic cancer. The Company is also the owner of Consensi®, a fixed-dose combination of celecoxib and amlodipine besylate, for the simultaneous treatment of osteoarthritis pain and hypertension that was approved by the FDA for marketing in the U.S. Consensi® is being sold in the U.S. by Burke Therapeutics, the marketing partner of the Company’s U.S. distributor, Coeptis Pharmaceuticals. The Company has also partnered to commercialize Consensi in China and South Korea. The Company has recently relocated its corporate headquarters to Rehovot, Israel. For more information, please visit http://www.purple-biotech.com. Forward-Looking Statements and Safe Harbor Statement Certain statements in this press release that are forward-looking and not statements of historical fact are forward looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements that are not statements of historical fact, and may be identified by words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. You should not place undue reliance on these forward-looking statements, which are not guarantees of future performance. Forward-looking statements reflect our current views, expectations, beliefs or intentions with respect to future events, and are subject to a number of assumptions, involve known and unknown risks, many of which are beyond our control, as well as uncertainties and other factors that may cause our actual results, performance or achievements to be significantly different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause or contribute to such differences include, among others, risks relating to: the plans, strategies and objectives of management for future operations; product development for NT219 and CM24; the process by which early stage therapeutic candidates such as NT219 and CM24 could potentially lead to an approved drug product is long and subject to highly significant risks, particularly with respect to a joint development collaboration; the fact that drug development and commercialization involves a lengthy and expensive process with uncertain outcomes; our ability to successfully develop and commercialize our pharmaceutical products; the expense, length, progress and results of any clinical trials; the impact of any changes in regulation and legislation that could affect the pharmaceutical industry; the difficulty in receiving the regulatory approvals necessary in order to commercialize our products; the difficulty of predicting actions of the U.S. Food and Drug Administration or any other applicable regulator of pharmaceutical products; the regulatory environment and changes in the health policies and regimes in the countries in which we operate; the uncertainty surrounding the actual market reception to our pharmaceutical products once cleared for marketing in a particular market; the introduction of competing products; patents obtained by competitors; dependence on the effectiveness of our patents and other protections for innovative products; our ability to obtain, maintain and defend issued patents; the commencement of any patent interference or infringement action against our patents, and our ability to prevail, obtain a favorable decision or recover damages in any such action; and the exposure to litigation, including patent litigation, and/or regulatory actions, and other factors that are discussed in our Annual Report on Form 20-F for the year ended December 31, 2019 and in our other filings with the U.S. Securities and Exchange Commission ("SEC"), including our cautionary discussion of risks and uncertainties under "Risk Factors" in our Registration Statements and Annual Reports. These are factors that we believe could cause our actual results to differ materially from expected results. Other factors besides those we have listed could also adversely affect us. Any forward-looking statement in this press release speaks only as of the date which it is made. We disclaim any intention or obligation to publicly update or revise any forward-looking statement or other information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable law. You are advised, however, to consult any additional disclosures we make in our reports to the Securities and Exchange Commission, which are available on the SEC's website, http://www.sec.gov. Company Contact:Gil EfronDeputy CEO & Chief Financial OfficerIR@ purple-biotech.com Investor Relations Contact:Chuck Padalachuck@lifesciadvisors.com +1 646-627-8390 Purple Biotech Ltd Consolidated Unaudited Statements of Financial Position As of December 31, 2020 2019 USD thousands USD thousands Assets Cash and cash equivalents 11,247 4,385 Short term deposits 46,558 10 Trade receivables 500 - Financial assets - 2,000 Other current assets 977 1,907 Total current assets 59,282 8,302 Non-current assets Right to use assets 790 206 Fixed assets, net 178 38 Long term deposits 3,071 - Intangible assets 20,482 6,172 Total assets 83,803 14,718 Liabilities Lease liability – short term 207 195 Accounts payable 1,198 1,245 Other payables 1,693 2,106 Total current liabilities 3,098 3,546 Non-current liabilities Lease liability 688 28 Post-employment benefit liabilities 265 285 Total non–current liabilities 953 313 Equity Share capital, no par value - - Share premium 118,909 46,986 Receipts on account of warrants 29,984 9,874 Capital reserve for share-based payments 8,115 3,181 Capital reserve from transactions with related parties 761 761 Capital reserve from transactions with non- controlling interest (859) (859)Accumulated loss (77,521) (49,522) Equity attributable to owners of the Company 79,389 10,421 Non-controlling interests 363 438 Total equity 79,752 10,859 Total liabilities and equity 83,803 14,718 Purple Biotech Ltd. Consolidated Unaudited Statements of Operations For the year ended December 31, For the six months ended December 31, 2020 2019 2020 2019 USD thousands USD thousands USD thousands USD thousands Revenues 1,000 1,000 - - Research and development expenses 7,488 2,674 4,355 986 Sales, general and administrative expenses 6,306 6,078 4,072 2,773 Reimbursement of legal fees (182) (596) (117) (166) Total operating expenses 13,612 8,156 8,310 3,593 Operating loss 12,612 7,156 8,310 3,593 Expenses (income) on account of warrants 15,655 (1,509) (7,928) (517)Finance expenses 61 181 46 73 Finance income (254) (151) (170) (78)Finance expenses (income), net 15,462 (1,479) (8,052) (522) Tax expenses - 216 - 216 Loss for the year 28,074 5,893 258 3,287 Loss attributable to: Owners of the Company 27,999 5,850 220 3,275 Non-controlling interests 75 43 38 12 28,074 5,893 258 3,287 Loss per share data Basic loss per ADS – USD 2.44 3.00(*) 0.02 1.70(*)Diluted loss per ADS – USD 2.44 3.00(*) 0.48 1.70(*)Number of shares used in calculating basic loss per ADS 11,500,113 1,936,778(*) 16,928,162 1,954,866(*)Number of shares used in calculating diluted loss per ADS 11,500,113 1,936,778(*) 17,160,018 1,954,866(*) (*) Restated to reflect a 1:10 reverse ratio of the ADSs, that took place in August 2020. Purple Biotech Ltd. Consolidated Unaudited Statements of Cash Flow For the year ended December 31, For the six months ended December 31, 2020 2019 2020 2019 USD thousands USD thousands USD thousands USD thousands Cash flows from operating activities: Loss for the period (28,074) (5,893) (258) (3,287) Adjustments: Depreciation 235 178 143 84 Finance expense (income), net 15,462 (1,479) (8,052) (522)Share-based payments 2,645 1,273 1,895 773 (9,732) (5,921) (6,272) (2,952)Changes in assets and liabilities: Changes in trade receivables and other current assets 501 62 880 (891)Changes in accounts payable (2,330) 503 (1,437) 361 Changes in other payables (511) (77) (641) 149 Changes in post-employment benefit liabilities (20) (148) 19 22 (2,360) 340 (1,179) (359)Net cash used in operating activities (12,092) (5,581) (7,451) (3,311) Cash flows from investing activities: Cash assumed as part of acquisition of FameWave 69 - - - Investment in financial asset - (2,100) - (100)Decrease (increase) in deposits (49,618) 1,511 (49,618) 5,011 Interest received 110 151 71 121 Acquisition of fixed assets (156) (11) (156) (3)Net cash provided by (used in) investing activities (49,595) (449) (49,703) 5,029 Cash flows from financing activities: Proceeds from issuance of ADSs 27,925 2,594 - - ADS issuance expenses paid (2,074) (264) (34) - Proceeds from issuance of warrants 26,574 3,406 - - Warrants issuance expenses paid (3,281) (347) 150 - Proceeds from exercise of warrants 19,547 43 5,627 - Repayment of lease liability (188) (171) (108) (82)Interest paid (15) (28) (4) (14)Net cash provided by (used in) financing activities 68,488 5,233 5,331 (96) Net increase (decrease) in cash and cash equivalents 6,801 (797) (51,823) 1,622 Cash and cash equivalents at the beginning of the period 4,385 5,163 62,995 2,757 Effect of translation adjustments on cash and cash equivalents 61 19 75 6 Cash and cash equivalents at end of the period 11,247 4,385 11,247 4,385 Purple Biotech Ltd. Reconciliation of Non-IFRS Financial Results Reconciliation of Adjusted Operating Loss For the year ended December 31, For the six months ended December 31, 2020 2019 2020 2019 USD thousands USD thousands USD thousands USD thousands Operating loss for the year 12,612 7,156 8,310 3,593 Less ESOP expenses (2,645) (1,273) (1,895) (773) 9,967 5,883 6,415 2,820

  • GlobeNewswire

    Purple Biotech to Present at the B. Riley Oncology Investor Conference

    REHOVOT, Israel, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. (“Purple Biotech”) (NASDAQ/TASE: PPBT), a clinical-stage company advancing first-in-class therapies to overcome tumor immune evasion and drug resistance, today announced that the Purple Biotech management team will present a corporate overview at the B. Riley Oncology Investor Conference, being held virtually January 20-21, 2021. Presentation Details Date: Wednesday, January 20Time: 10:30 AM ETWebcast: A live webcast of the presentation will be available on the investor section of the Purple Biotech website at www.purple-biotech.com. Following the live webcast, the event will remain archived on the Purple Biotech’s website for approximately 90 days. About Purple BiotechPurple Biotech Ltd. (the “Company”; NASDAQ/TASE: PPBT) is a clinical-stage company focusing on advancing first-in-class therapies to overcome tumor immune evasion and drug resistance in order to create successful long-lasting treatments for people with cancer. The Company’s oncology pipeline includes NT219 and CM24. NT219 is a small molecule targeting the novel cancer drug resistance pathways IRS1/2 and STAT3. The Company is currently advancing NT219 as a monotherapy treatment of advanced solid tumors and in combination with cetuximab for the treatment of recurrent or metastatic squamous cell carcinoma of head and neck cancer (SCCHN) in a phase 1/2 study. CM24 is a monoclonal antibody blocking CEACAM1, a novel immune checkpoint that supports tumor immune evasion and survival through multiple pathways. The Company plans to advance CM24 as a combination therapy with anti-PD-1 checkpoint inhibitors in selected cancer indications in a phase 1 study followed by a phase 2 for the treatment of non-small cell lung cancer and pancreatic cancer. The Company has entered into a clinical collaboration agreement, as amended, with Bristol Myers Squibb for the planned phase 1/2 clinical trials to evaluate the combination of CM24 with the PD-1 inhibitor nivolumab (Opdivo®) in patients with non-small cell lung cancer and in combination with nivolumab in addition to nab-paclitaxel (ABRAXANE®) in patients with pancreatic cancer. The Company is also the owner of Consensi®, a fixed-dose combination of celecoxib and amlodipine besylate, for the simultaneous treatment of osteoarthritis pain and hypertension that was approved by the FDA for marketing in the U.S. Consensi® is being sold in the U.S. by Burke Therapeutics, the marketing partner of the Company’s U.S. distributor, Coeptis Pharmaceuticals. The Company has also partnered to commercialize Consensi in China and South Korea. The Company has recently relocated its corporate headquarters to Rehovot, Israel. For more information, please visit http://www.purple-biotech.com. Company Contact:Gil EfronDeputy CEO & Chief Financial OfficerIR@purple-biotech.com Investor Relations Contact:Chuck Padalachuck@lifesciadvisors.com +1 646-627-8390