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Panbela Therapeutics skyrockets with $9.5 million asset divestment (NASDAQ:PBLA)
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Panbela Therapeutics (NASDAQ:PBLA) shares jumped nearly 40% in early trading on Wednesday after the company said it had divested certain assets in its eflornithine pediatric neuroblastoma program to US WorldMeds.
Under the deal, Panbela will receive non-dilutive funds of up to $9.5 million.
“Panbela will receive payment once USWM successfully completes milestones related to eflornithine’s clinical development, regulatory approval, and commercial sale,” the company said in a statement.
