Panbela Therapeutics (PBLA) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 12, 2022
Document Information [Line Items]
Entity Central Index Key	0001029125
Entity Registrant Name	Panbela Therapeutics, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-39468
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-2805017
Entity Address, Address Line One	712 Vista Blvd #305
Entity Address, City or Town	Waconia
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55387
City Area Code	952
Local Phone Number	479-1196
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	PBLA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		20,774,045

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 2,530	$ 11,867
Prepaid expenses and other current assets	567	91
Income tax receivable	359	321
Total current assets	3,456	12,279
Deposits held for clinical trial costs	3,101	593
Total assets	6,557	12,872
Current liabilities:
Accounts payable	3,211	640
Accrued expenses	1,274	2,020
Accrued interest payable	66	0
Notes payable	650	0
Debt, current portion	1,000	0
Total current liabilities	6,201	2,660
Debt, net of current portion	5,194	0
Total non current liabilities	5,194	0
Total liabilities	11,395	2,660
Stockholders' (deficit) equity:
Preferred stock, $0.001 par value; 10,000,000 authorized; no shares issued or outstanding as of June 30, 2022 and December 31, 2021	0	0
Common stock, $0.001 par value; 100,000,000 authorized; 20,774,045 and 13,443,722 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	21	13
Additional paid-in capital	76,451	66,227
Accumulated deficit	(81,957)	(56,161)
Accumulated comprehensive income	647	133
Total stockholders' (deficit) equity	(4,838)	10,212
Total liabilities and stockholders' (deficit) equity	$ 6,557	$ 12,872

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	20,774,045	13,443,722
Common stock, shares outstanding (in shares)	20,774,045	13,443,722

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating expenses:
General and administrative	$ 1,258	$ 1,241	$ 3,053	$ 2,391
Research and development	20,028	985	22,236	2,084
Operating loss	(21,286)	(2,226)	(25,289)	(4,475)
Other income (expense):
Interest income	2	0	2	0
Interest expense	(16)	(4)	(20)	(7)
Other expense	(848)	(148)	(536)	(269)
Total other expense	(862)	(152)	(554)	(276)
Loss before income tax benefit	(22,148)	(2,378)	(25,843)	(4,751)
Income tax benefit	18	192	47	308
Net loss	(22,130)	(2,186)	(25,796)	(4,443)
Foreign currency translation adjustment	813	140	514	239
Comprehensive loss	$ (21,317)	$ (2,046)	$ (25,282)	$ (4,204)
Basic and diluted net loss per share (in dollars per share)	$ (1.51)	$ (0.22)	$ (1.84)	$ (0.44)
Weighted average shares outstanding - basic and diluted (in shares)	14,654,102	10,092,995	14,049,910	9,989,705

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Dec. 31, 2020	9,664
Balances at Dec. 31, 2020	$ 10	$ 54,848	$ (46,026)	$ (384)	$ 8,448
Vesting of restricted stock (in shares)	7
Vesting of restricted stock	$ 0	0	0	0	0
Stock-based compensation	0	252	0	0	252
Net loss	0	0	(2,257)	0	(2,257)
Foreign currency translation adjustment	$ 0	0	0	99	99
Exercise of warrants for cash (in shares)	229
Exercise of warrants for cash	$ 0	1,042	0	0	1,042
Exercise of warrants, cashless (in shares)	189
Exercise of warrants, cashless	$ 0	0	0	0	0
Balances (in shares) at Mar. 31, 2021	10,089
Balances at Mar. 31, 2021	$ 10	56,142	(48,283)	(285)	7,584
Balances (in shares) at Dec. 31, 2020	9,664
Balances at Dec. 31, 2020	$ 10	54,848	(46,026)	(384)	8,448
Net loss					(4,443)
Foreign currency translation adjustment					239
Balances (in shares) at Jun. 30, 2021	10,095
Balances at Jun. 30, 2021	$ 10	56,506	(50,469)	(145)	5,902
Balances (in shares) at Mar. 31, 2021	10,089
Balances at Mar. 31, 2021	$ 10	56,142	(48,283)	(285)	7,584
Vesting of restricted stock (in shares)	4
Stock-based compensation	$ 0	364	0	0	364
Net loss	0	0	(2,186)	0	(2,186)
Foreign currency translation adjustment	$ 0	0	0	140	140
Exercise of warrants, cashless (in shares)	2
Balances (in shares) at Jun. 30, 2021	10,095
Balances at Jun. 30, 2021	$ 10	56,506	(50,469)	(145)	5,902
Balances (in shares) at Dec. 31, 2021	13,443
Balances at Dec. 31, 2021	$ 13	66,227	(56,161)	133	10,212
Vesting of restricted stock (in shares)	6
Vesting of restricted stock	$ 0	0	0	0	0
Stock-based compensation	0	334	0	0	334
Net loss	0	0	(3,666)	0	(3,666)
Foreign currency translation adjustment	$ 0	0	0	(299)	(299)
Balances (in shares) at Mar. 31, 2022	13,449
Balances at Mar. 31, 2022	$ 13	66,561	(59,827)	(166)	6,581
Balances (in shares) at Dec. 31, 2021	13,443
Balances at Dec. 31, 2021	$ 13	66,227	(56,161)	133	10,212
Net loss					(25,796)
Foreign currency translation adjustment					514
Balances (in shares) at Jun. 30, 2022	20,775
Balances at Jun. 30, 2022	$ 21	76,451	(81,957)	647	(4,838)
Balances (in shares) at Mar. 31, 2022	13,449
Balances at Mar. 31, 2022	$ 13	66,561	(59,827)	(166)	6,581
Vesting of restricted stock (in shares)	6
Stock-based compensation	$ 0	293	0	0	293
Net loss	0	0	(22,130)	0	(22,130)
Foreign currency translation adjustment	$ 0	0	0	813	813
Issuance of common stock - CPP Acquisition (in shares)	7,320
Issuance of common stock - CPP Acquisition	$ 8	9,597	0	0	9,605
Balances (in shares) at Jun. 30, 2022	20,775
Balances at Jun. 30, 2022	$ 21	$ 76,451	$ (81,957)	$ 647	$ (4,838)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (25,796)	$ (4,443)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	627	616
Non-cash interest expense	13	0
Changes in operating assets and liabilities:
Income tax receivable	(33)	(251)
Prepaid expenses and other current assets	(219)	130
Deposits held for clinical trial costs	(2,561)	0
Accounts payable	2,483	484
Accrued liabilities	(931)	(194)
Net cash used in operating activities	(8,680)	(3,658)
Cash flows from investing activities:
Net cash used in investing activities	(655)	0
Cash flows from financing activities:
Proceeds from exercise of stock purchase warrants	0	1,042
Net cash provided by financing activities	0	1,042
Effect of exchange rate changes on cash	(2)	(1)
Net change in cash	(9,337)	(2,617)
Cash and cash equivalents at beginning of period	11,867	9,022
Cash and cash equivalents at end of period	2,530	6,405
Supplemental disclosure of cash flow information:
Cash paid during period for interest	7	7
CPP [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Write off of in process research and development (IPR&D)	17,737	0
Cash flows from investing activities:
Investment in IPR&D	(659)	0
Cash aquired in merger	4	0
Supplemental Disclosure of non-cash transactions:
Fair value of common stock, stock options and stock warrants issued as consideration for asset acquisition	$ 9,605	$ 0

Note 1 - Business

Note 1 - Business	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Business Panbela Therapeutics, Inc. (“Panbela”) and its direct wholly-owned subsidiaries: Panbela Research, Inc. (“Panbela Research”) and Cancer Prevention Pharmaceuticals, Inc. (“CPP”) exist for the primary purpose of developing disruptive therapeutics for the treatment of patients with urgent unmet medical needs. Panbela Therapeutics Pty Ltd is a wholly-owned subsidiary of Panbela Research organized under the laws of Australia. Cancer Prevention has three wholly owned dormant subsidiaries: Cancer Prevention Pharma (Ireland) Limited, Cancer Prevention Pharma Limited, a United Kingdom entity, and Cancer Prevention Pharmaceuticals, LLC, an Arizona limited liability company. Panbela Therapeutics, Inc., together with its direct and indirect subsidiaries is referred to as “we,” “us,” “our,” and the “Company.” The primary objective of our pipeline is the utilization of pharmacotherapies to reduce or normalize increased disease-associated polyamines using complementary pharmacotherapies. Our lead candidates are ivospemin (SBP- 101 1X Recent Acquisition of CPP On June 15, 2022, February 21, 2022 ( 6,

Note 2 - Risks and Uncertaintie

Note 2 - Risks and Uncertainties	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Nature of Operations [Text Block]	2. Risks and Uncertainties The Company operates in a highly regulated and competitive environment. The development, manufacturing and marketing of pharmaceutical products require approval from, and are subject to ongoing oversight by, the Food and Drug Administration (“FDA”) in the United States, the Therapeutic Goods Administration in Australia, the European Medicines Agency in the European Union, and comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, may We have incurred losses of $82.0 million since our inception in 2011. six June 30, 2022, six June 30, 2022 June 30, 2022, The accompanying condensed consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The condensed not 2021 March 24, 2022. 101 1X 1X 4 In March 2020, 19” 19, 2020. first 2021 second 2021, 2021, second 2022, 19 19 2021, 19. one January 2022, not 19. no

Note 3 - Basis of Presentation

Note 3 - Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	3. Basis of Presentation We have prepared the accompanying interim condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10 X not December 31. December 31, 2021 not 10 may not

Note 4 - Liquidity and Business

Note 4 - Liquidity and Business Plan	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	4. Liquidity and Business Plan We will need to raise additional capital to support our current business plans. We may no not Our future success is dependent upon our ability to obtain additional financing, the success of our development efforts, our ability to obtain marketing approval for ivospemin (SBP- 101 1X 1X not not There can be no

Note 5 - Summary of Significant

Note 5 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	5. Summary of Significant Accounting Policies Principles of consolidation The accompanying condensed consolidated financial statements include the assets, liabilities, and expenses of the Company. All significant intercompany transactions and balances have been eliminated in consolidation. Use of estimates The preparation of condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of expenses during the reporting period. Actual results could differ from those estimates, particularly given the significant social and economic disruptions and uncertainties. Business Combinations and Asset Acquisition We account for acquired businesses using the acquisition method of accounting, which requires that the assets acquired and liabilities assumed be recorded at the date of acquisition at their respective fair values if the acquisition meets the definition of a business combination. If the acquisition does not ASC 805 Research and development costs Research and development costs include expenses incurred in the conduct of our clinical trials for ivospemin (SBP- 101 ( 1X 1X third 101 1X 1X 101 1X 1X We charge research and development costs, including clinical trial costs, to expense when incurred. Our human clinical trials are, and will be, performed at clinical trial sites and are administered jointly by us with assistance from contract research organizations (“CROs”). Costs of setting up clinical trial sites are accrued upon execution of the study agreement. Expenses related to the performance of clinical trials generally are accrued based on contracted amounts and the achievement of agreed upon milestones, such as patient enrollment, patient follow-up, etc. We monitor levels of performance under each significant contract, including the extent of patient enrollment and other activities through communications with the clinical trial sites and CROs, and adjust the estimates, if required, on a quarterly basis so that clinical expenses reflect the actual effort expended at each clinical trial site and by each CRO. Research and development costs also include IPR&D. This asset was acquired from the securityholders of CPP and written off to research and development immediately subsequent to the asset acquisition. All material CRO contracts are terminable by us upon written notice, and we are generally only liable for actual effort expended by the CROs and certain non-cancelable expenses incurred at any point of termination. We expense costs associated with obtaining licenses for patented technologies when it is determined there is no Stock-based compensation In accounting for stock-based incentive awards, we measure and recognize the cost of employee and non-employee services received in exchange for awards of equity instruments based on the fair value of those awards on the grant date. Calculating stock-based compensation expense requires the input of highly subjective assumptions, which represent our best estimates and involve inherent uncertainties and the application of management’s judgment. Compensation cost is recognized ratably using the straight-line attribution method over the vesting period, which is considered to be the requisite service period. Compensation expense for performance-based stock option awards is recognized when “performance” has occurred or is probable of occurring. The fair value of stock-based awards is estimated at the date of grant using the Black-Scholes option pricing model. The determination of the fair value of stock-based awards is affected by our stock price, as well as assumptions regarding a number of complex and subjective variables. Risk free interest rates are based upon U.S. Treasury rates appropriate for the expected term of each award. Expected volatility rates are based primarily on the volatility rates of a set of guideline companies, which consist of public and recently public biotechnology companies. The assumed dividend yield is zero, as we do not Foreign currency translation adjustments The functional currency of Panbela Therapeutics Pty Ltd is the Australian Dollar. Accordingly, assets and liabilities, and equity transactions of Panbela Therapeutics Australia Pty Ltd, are translated into U.S. dollars at period-end exchange rates. Revenues and expenses are translated at the average exchange rate in effect for the period. The resulting translation gains and losses are recorded as a component of accumulated comprehensive loss presented within the stockholders’ equity. During the three June 30, 2022 2021, Comprehensive loss Comprehensive loss consists of our net loss and the effects of foreign currency translation. Net loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is based on the weighted average of common shares outstanding during the period plus dilutive potential common shares calculated using the treasury stock method. Such potentially dilutive shares are excluded when the effect would be anti-dilutive or reduce a net loss per share. The Company’s potential dilutive shares, which include outstanding common stock options, and warrants, have not The following table sets forth the potential shares of common stock that were not June 30, 2022 2021 Employee and non-employee stock options 4,040,890 2,431,911 Restricted stock units - 21,580 Common stock issuable under common stock purchase warrants 5,447,561 5,109,501 9,488,451 7,562,992 Recently Adopted Accounting Pronouncements In August 2020, No. 2020 06, 470 20 815 40 December 15, 2021, December 31, 2022. not

Note 6 - Asset Acquisition

Note 6 - Asset Acquisition	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Asset Acquisition [Text Block]	6. Asset Acquisition On June 15, 2022, February 21, 2022. Under the terms of the Merger Agreement, the holders of CPP’s outstanding capital stock immediately prior to the Merger received shares of common stock of Panbela upon closing of the Merger. The stockholders of Panbela Research retained a majority of the outstanding shares of Panbela, the post-merger holding company. CPP stockholders will be eligible to receive contingent payments totaling a maximum of $60 million from milestone and royalty payments associated with the potential approval and commercialization of eflornithine, the lead asset. We performed the “screen test,” to determine if substantially all of the fair value of the gross assets acquired in the Mergers is concentrated in a single identifiable asset or group of similar identifiable assets. CPP’s lead asset, eflornithine in three 1X 1X 1X The contract consideration for the assets acquired includes certain contingent consideration which at acquisition date is neither probable of occurring nor reasonably estimable. As such, the value of this contingent consideration has been excluded from the allocation of the purchase price below. Acquisition-related transaction costs incurred have been recorded as additional investment in IPR&D. The following is a summary of the purchase consideration and the allocation of that purchase consideration in connection with the CPP asset acquisition: Consideration paid for assets of CPP: Shares Value (in Common stock issued to CPP shareholders 7,319,533 $ 7,839 Common stock underlying options continued 1,596,754 1,637 Common stock underlying warrants replaced 338,060 128 Total non cash consideration $ 9,605 Transaction costs incurred $ 659 Total Consideration $ 10,264 Assets and liabilities acquired: In process research and development * $ 17,737 Cash 4 Other current assets 230 Accounts payable and accrued expenses (811 ) Accrued interest and notes payable (6,897 ) $ 10,263 * In accordance with FASB ASC Topic 730

Note 7 - Notes Payable

Note 7 - Notes Payable	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Notes Payable Sucampo Promissory Note As of June 30, 2022, June 15, 2022. $1.0 January 31,2023, January 31, 2024, January 31, 2025 January 31, 2026; January 31, 2027. January 31, 2023, $1.0 10% January 31, 2023 June 30, 2022, June 15, 2022. Tillots Promissory Note As of June 30, 2022, December 31, 2022. June 30, 2022

Note 8 - License Agreement for

Note 8 - License Agreement for the Development and Commercialization of Flynpovi	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	8. License Agreement for the Development and Commercialization of Flynpovi CPP is party to a license agreement with One-Two Therapeutics Assets Limited (“One-Two”) dated July 16, 2021. not

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. Commitments and Contingencies The Company is occasionally involved in claims and disputes arising in the ordinary course of business. The Company insures certain business risks where possible to mitigate the financial impact of individual claims and establishes reserves for an estimate of any probable cost of settlement or other disposition. Former Employee Arbitration CPP terminated its former chief financial officer for cause in November 2020. November 2021, no “not January 2022 License Agreement with the University of Arizona CPP is party to a license agreement with the Arizona Board of Regents of the University of Arizona (the “University”). Pursuant to an Inter-institutional Agreement, the Regents of the University of California on behalf of the University of California, Irvine, has agreed to license certain patents, provisional patents, clinical trial data and other intellectual property related to the chemoprevention of cancer, the prevention of polyps and other technologies to CPP. The University has the right to administer the joint patent rights held between the University and the University of California, Irvine. The license agreement gives CPP exclusive rights to commercialize products based on the intellectual property. In exchange for the intellectual property, CPP paid the University certain fees and reimbursements of patent costs and granted the university a warrant to acquire shares of CPP. As a result of the Mergers, the warrant was replaced with a warrant to purchase 110,882 shares of common stock of Panbela at a price of $0.28 per share. CPP also agreed to pay the University additional milestone payments totaling up to $90,000 upon the achievement of certain research, development and regulatory milestones. Future milestone payments are considered to be contingent consideration and will be accrued when probable of being paid. As of June 30, 2022, no

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	10. Stockholders Equity Shares issued to acquire CPP On June 15, 2022, Shares reserved The following shares of common stock were reserved for future issuance as of the date indicated: June 30, 2022 Stock options outstanding 4,040,890 Shares available for grant under equity incentive plan 2,019,776 Warrants outstanding (1) 5,447,561 11,508,227 ( 1

Note 11 - Stock-based Compensat

Note 11 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	11. Stock-based Compensation 2016 The Panbela Therapeutics, Inc. 2016 “2016 2016 2020. 2016 2016 no 2016 ten 2016 January 1 2021 2025 20% 2016 December 31 may 2016 may June 30, 2022, one 2016 2011 Our Board ceased making awards under the Panbela Therapeutics, Inc. 2011 “2011 2016 2011 June 30, 2022, 2011 CPP s 2010 As a result of the Mergers, the Company has assumed all remaining rights and obligations with respect to CPP’s 2010 June 30, 2022, Stock-based Compensation Expense General and administrative (“G&A”) and research and development expenses include non-cash stock-based compensation expense as a result of our issuance of stock options. The terms and vesting schedules for stock-based awards vary by type of grant and the employment status of the grantee. The awards granted through June 30, 2022 June 30, 2022. Stock-based compensation expense for each of the periods presented is as follows (in thousands): Six Months Ended June 30, 2022 2021 General and Administrative $ 507 $ 514 Research and Development 120 102 $ 627 $ 616 Details of options, granted, exercised, cancelled or forfeited during the six June 30, 2022 Shares Underlying Weighted Average Aggregate Balance at January 1, 2022 2,463,636 $ 5.76 $ 8,821 Granted in connection with merger 1,596,754 0.35 Exercised - - Cancelled - - Forfeitures or expirations (19,500 ) 14.07 Balance at June 30, 2022 4,040,890 $ 3.62 $ 624,573 Information about stock options outstanding, vested and expected to vest as of June 30, 2022, Outstanding, Vested and Expected to Vest Options Vested and Exercisable Per Share Exercise Price Shares Weighted Average Weighted Options Weighted $0.22 - $1.47 1,610,754 7.63 $ 0.356 1,610,754 7.63 $2.26 - $2.50 79,225 7.12 $ 2.310 22,000 1.70 $2.95 - $4.17 1,207,940 6.95 $ 3.410 959,606 6.48 $4.50 - $8.10 687,100 6.19 $ 6.134 647,100 6.09 $9.99 - $10.10 262,048 7.56 $ 9.992 156,024 7.23 $15.10 193,823 4.45 $ 15.100 193,823 4.45 Totals 4,040,890 7.15 $ 3.622 3,589,307 6.82

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The accompanying condensed consolidated financial statements include the assets, liabilities, and expenses of the Company. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of estimates The preparation of condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of expenses during the reporting period. Actual results could differ from those estimates, particularly given the significant social and economic disruptions and uncertainties.
Business Combinations Policy [Policy Text Block]	Business Combinations and Asset Acquisition We account for acquired businesses using the acquisition method of accounting, which requires that the assets acquired and liabilities assumed be recorded at the date of acquisition at their respective fair values if the acquisition meets the definition of a business combination. If the acquisition does not ASC 805
Research and Development Expense, Policy [Policy Text Block]	Research and development costs Research and development costs include expenses incurred in the conduct of our clinical trials for ivospemin (SBP- 101 ( 1X 1X third 101 1X 1X 101 1X 1X We charge research and development costs, including clinical trial costs, to expense when incurred. Our human clinical trials are, and will be, performed at clinical trial sites and are administered jointly by us with assistance from contract research organizations (“CROs”). Costs of setting up clinical trial sites are accrued upon execution of the study agreement. Expenses related to the performance of clinical trials generally are accrued based on contracted amounts and the achievement of agreed upon milestones, such as patient enrollment, patient follow-up, etc. We monitor levels of performance under each significant contract, including the extent of patient enrollment and other activities through communications with the clinical trial sites and CROs, and adjust the estimates, if required, on a quarterly basis so that clinical expenses reflect the actual effort expended at each clinical trial site and by each CRO. Research and development costs also include IPR&D. This asset was acquired from the securityholders of CPP and written off to research and development immediately subsequent to the asset acquisition. All material CRO contracts are terminable by us upon written notice, and we are generally only liable for actual effort expended by the CROs and certain non-cancelable expenses incurred at any point of termination. We expense costs associated with obtaining licenses for patented technologies when it is determined there is no
Share-Based Payment Arrangement [Policy Text Block]	Stock-based compensation In accounting for stock-based incentive awards, we measure and recognize the cost of employee and non-employee services received in exchange for awards of equity instruments based on the fair value of those awards on the grant date. Calculating stock-based compensation expense requires the input of highly subjective assumptions, which represent our best estimates and involve inherent uncertainties and the application of management’s judgment. Compensation cost is recognized ratably using the straight-line attribution method over the vesting period, which is considered to be the requisite service period. Compensation expense for performance-based stock option awards is recognized when “performance” has occurred or is probable of occurring. The fair value of stock-based awards is estimated at the date of grant using the Black-Scholes option pricing model. The determination of the fair value of stock-based awards is affected by our stock price, as well as assumptions regarding a number of complex and subjective variables. Risk free interest rates are based upon U.S. Treasury rates appropriate for the expected term of each award. Expected volatility rates are based primarily on the volatility rates of a set of guideline companies, which consist of public and recently public biotechnology companies. The assumed dividend yield is zero, as we do not
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency translation adjustments The functional currency of Panbela Therapeutics Pty Ltd is the Australian Dollar. Accordingly, assets and liabilities, and equity transactions of Panbela Therapeutics Australia Pty Ltd, are translated into U.S. dollars at period-end exchange rates. Revenues and expenses are translated at the average exchange rate in effect for the period. The resulting translation gains and losses are recorded as a component of accumulated comprehensive loss presented within the stockholders’ equity. During the three June 30, 2022 2021,
Comprehensive Income, Policy [Policy Text Block]	Comprehensive loss Comprehensive loss consists of our net loss and the effects of foreign currency translation.
Earnings Per Share, Policy [Policy Text Block]	Net loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is based on the weighted average of common shares outstanding during the period plus dilutive potential common shares calculated using the treasury stock method. Such potentially dilutive shares are excluded when the effect would be anti-dilutive or reduce a net loss per share. The Company’s potential dilutive shares, which include outstanding common stock options, and warrants, have not The following table sets forth the potential shares of common stock that were not June 30, 2022 2021 Employee and non-employee stock options 4,040,890 2,431,911 Restricted stock units - 21,580 Common stock issuable under common stock purchase warrants 5,447,561 5,109,501 9,488,451 7,562,992
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In August 2020, No. 2020 06, 470 20 815 40 December 15, 2021, December 31, 2022. not

Note 5 - Summary of Significa_2

Note 5 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	June 30, 2022 2021 Employee and non-employee stock options 4,040,890 2,431,911 Restricted stock units - 21,580 Common stock issuable under common stock purchase warrants 5,447,561 5,109,501 9,488,451 7,562,992

Note 6 - Asset Acquisition (Tab

Note 6 - Asset Acquisition (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Asset Acquisition [Table Text Block]	Shares Value (in Common stock issued to CPP shareholders 7,319,533 $ 7,839 Common stock underlying options continued 1,596,754 1,637 Common stock underlying warrants replaced 338,060 128 Total non cash consideration $ 9,605 Transaction costs incurred $ 659 Total Consideration $ 10,264 In process research and development * $ 17,737 Cash 4 Other current assets 230 Accounts payable and accrued expenses (811 ) Accrued interest and notes payable (6,897 ) $ 10,263

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Common Stock Reserved for Future Issuance [Table Text Block]	June 30, 2022 Stock options outstanding 4,040,890 Shares available for grant under equity incentive plan 2,019,776 Warrants outstanding (1) 5,447,561 11,508,227

Note 11 - Stock-based Compens_2

Note 11 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Six Months Ended June 30, 2022 2021 General and Administrative $ 507 $ 514 Research and Development 120 102 $ 627 $ 616
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Shares Underlying Weighted Average Aggregate Balance at January 1, 2022 2,463,636 $ 5.76 $ 8,821 Granted in connection with merger 1,596,754 0.35 Exercised - - Cancelled - - Forfeitures or expirations (19,500 ) 14.07 Balance at June 30, 2022 4,040,890 $ 3.62 $ 624,573
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Outstanding, Vested and Expected to Vest Options Vested and Exercisable Per Share Exercise Price Shares Weighted Average Weighted Options Weighted $0.22 - $1.47 1,610,754 7.63 $ 0.356 1,610,754 7.63 $2.26 - $2.50 79,225 7.12 $ 2.310 22,000 1.70 $2.95 - $4.17 1,207,940 6.95 $ 3.410 959,606 6.48 $4.50 - $8.10 687,100 6.19 $ 6.134 647,100 6.09 $9.99 - $10.10 262,048 7.56 $ 9.992 156,024 7.23 $15.10 193,823 4.45 $ 15.100 193,823 4.45 Totals 4,040,890 7.15 $ 3.622 3,589,307 6.82

Note 1 - Business (Details Text

Note 1 - Business (Details Textual)	Jun. 30, 2022
Number of Subsidiaries	3

Note 2 - Risks and Uncertaint_2

Note 2 - Risks and Uncertainties (Details Textual) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Retained Earnings (Accumulated Deficit), Total	$ (81,957)				$ (81,957)		$ (56,161)
Net Income (Loss) Attributable to Parent, Total	(22,130)	$ (3,666)	$ (2,186)	$ (2,257)	(25,796)	$ (4,443)
Net Cash Provided by (Used in) Operating Activities, Total					(8,680)	(3,658)
Cash and Cash Equivalents, at Carrying Value, Total	2,530				2,530		11,867
Working Capital	2,700				2,700
Stockholders' Equity Attributable to Parent, Ending Balance	$ (4,838)	$ 6,581	$ 5,902	$ 7,584	(4,838)	$ 5,902	$ 10,212	$ 8,448
CPP Asset Acquisition [Member]
Research and Development in Process					$ 17,700

Note 5 - Summary of Significa_3

Note 5 - Summary of Significant Accounting Policies - Anti-dilutive Securities (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Anti-dilutive securities (in shares)	9,488,451	7,562,992
Share-Based Payment Arrangement [Member]
Anti-dilutive securities (in shares)	4,040,890	2,431,911
Restricted Stock Units (RSUs) [Member]
Anti-dilutive securities (in shares)	0	21,580
Warrant [Member]
Anti-dilutive securities (in shares)	5,447,561	5,109,501

Note 6 - Asset Acquisition (Det

Note 6 - Asset Acquisition (Details Textual) $ in Millions	Jun. 15, 2022 USD ($)
Maximum [Member] | CPP Asset Acquisition [Member]
Asset Acquisition, Contingent Consideration, Liability, Total	$ 60

Note 6 - Asset Acquisition - Su

Note 6 - Asset Acquisition - Summary of the Purchase Consideration and the Allocation of That Purchase Consideration (Details) - CPP Asset Acquisition [Member] $ in Thousands	Jun. 15, 2022 USD ($) shares
Common stock issued to CPP shareholders (in shares) | shares	7,319,533
Value of Consideration Given	$ 9,605
Common stock underlying options continued (in shares) | shares	1,596,754
Common stock underlying warrants replaced (in shares) | shares	338,060
Transaction costs incurred	$ 659
Total Consideration	10,264
In process research and development *	17,737	[1]
Cash	4
Other current assets	230
Accounts payable and accrued expenses	(811)
Accrued interest and notes payable	(6,897)
Asset Acquisition, Assets Acquired	10,263
Common Stock Issued as Consideration [Member]
Value of Consideration Given	7,839
Options Issued as Consideration [Member]
Value of Consideration Given	1,637
Warrants Issued as Consideration [Member]
Value of Consideration Given	$ 128
[1]In accordance with FASB ASC Topic 730 this asset was immediately expensed upon the closing of the merger

Note 7 - Notes Payable (Details

Note 7 - Notes Payable (Details Textual)	Jun. 30, 2022 USD ($)
Sucampo Note [Member]
Long-Term Debt, Total	$ 6,200,000
Debt Instrument, Face Amount	$ 6,200,000
Debt Instrument, Interest Rate, Stated Percentage	5%
Interest Payable	$ 12,000
Tillotts Note [Member]
Long-Term Debt, Total	700,000
Debt Instrument, Face Amount	$ 650,000
Debt Instrument, Interest Rate, Stated Percentage	5%
Interest Payable	$ 54,000

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Details Textual)	Jun. 30, 2022 USD ($) $ / shares shares
License Agreement, Milestone Payments Achievement	$ 90,000
University Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares	110,882
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares	$ 0.28
Former Employee Arbitration [Member]
Annual Salary of Former Employee	$ 265,000

Note 10 - Stockholders' Equit_2

Note 10 - Stockholders' Equity (Details Textual) - $ / shares	Jun. 15, 2022	Jun. 30, 2022
Shares Reserved for Issuance, Weighted Average Exercise Price (in dollars per share)		$ 4.56
CPP Acquisition Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	338,060
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 4.10
CPP Asset Acquisition [Member]
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued (in shares)	7,319,533
Stock Issuable, Shares, Acquisition (in shares)	731,957
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Options Issued (in shares)	1,596,754
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Options Issued, Weighted Average (in dollars per share)	$ 0.35
CPP Asset Acquisition [Member] | Common Stock [Member]
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued (in shares)	6,587,576

Note 10 - Stockholders' Equit_3

Note 10 - Stockholders' Equity - Common Stock Reserved for Future Issuance (Details)	Jun. 30, 2022 shares
Shares reserved (in shares)	11,508,227
Warrant [Member]
Shares reserved (in shares)	5,447,561	[1]
Share-Based Payment Arrangement, Option [Member]
Shares reserved (in shares)	4,040,890
Shares Available for Grant Under Equity Incentive Plan [Member]
Shares reserved (in shares)	2,019,776
[1]Weighted average exercise price of $4.56

Note 11 - Stock-based Compens_3

Note 11 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)	$ 3.622
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	4,040,890	2,463,636
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 2.2
Panbela Therapeutics, Inc. 2016 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	2,220,136
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)	$ 6.04
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)	7 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	2,019,776
Panbela Therapeutics, Inc. 2011 Stock Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	224,000
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)	$ 2.97
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)	2 years 6 months
CPP's 2010 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	1,596,794
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)	$ 0.35
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)	7 years 8 months 12 days

Note 11 - Stock-based Compens_4

Note 11 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based compensation expense	$ 627	$ 616
General and Administrative Expense [Member]
Share-based compensation expense	507	514
Research and Development Expense [Member]
Share-based compensation expense	$ 120	$ 102

Note 11 - Stock-based Compens_5

Note 11 - Stock-based Compensation - Summary of Option Activity (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Balance, shares available for grant (in shares)	2,463,636
Balance, weighted average exercise price per share (in dollars per share)	$ 5.76
Aggregate intrinsic value	$ 624,573	$ 8,821
Granted in connection with merger (in shares)	1,596,754
Granted in connection with merger, weighted average exercise price per share (in dollars per share)	$ 0.35
Excercised, shares available for grant (in shares)	0
Cancelled, shares available for grant (in shares)	0
Forfeitures or expirations (in shares)	(19,500)
Forfeitures or expirations (in dollars per share)	$ 14.07
Balance, shares available for grant (in shares)	4,040,890
Balance, weighted average exercise price per share (in dollars per share)	$ 3.62

Note 11 - Stock-based Compens_6

Note 11 - Stock-based Compensation - Options Outstanding (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Options outstanding (in shares) | shares	4,040,890
Options outstanding, weighted average remaining contractual life (Year)	7 years 1 month 24 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 3.622
Options exercisable (in shares) | shares	3,589,307
Options excercisable, weighted average remaining contractual life (Year)	6 years 9 months 25 days
Exercise Price Range 1 [Member]
Per share exercise price, lower limit (in dollars per share)	$ 0.22
Per share exercise price, upper limit (in dollars per share)	$ 1.47
Options outstanding (in shares) | shares	1,610,754
Options outstanding, weighted average remaining contractual life (Year)	7 years 7 months 17 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 0.356
Options exercisable (in shares) | shares	1,610,754
Options excercisable, weighted average remaining contractual life (Year)	7 years 7 months 17 days
Exercise Price Range 2 [Member]
Per share exercise price, lower limit (in dollars per share)	$ 2.26
Per share exercise price, upper limit (in dollars per share)	$ 2.50
Options outstanding (in shares) | shares	79,225
Options outstanding, weighted average remaining contractual life (Year)	7 years 1 month 13 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 2.310
Options exercisable (in shares) | shares	22,000
Options excercisable, weighted average remaining contractual life (Year)	1 year 8 months 12 days
Exercise Price Range 3 [Member]
Per share exercise price, lower limit (in dollars per share)	$ 2.95
Per share exercise price, upper limit (in dollars per share)	$ 4.17
Options outstanding (in shares) | shares	1,207,940
Options outstanding, weighted average remaining contractual life (Year)	6 years 11 months 12 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 3.410
Options exercisable (in shares) | shares	959,606
Options excercisable, weighted average remaining contractual life (Year)	6 years 5 months 23 days
Exercise Price Range 4 [Member]
Per share exercise price, lower limit (in dollars per share)	$ 4.5
Per share exercise price, upper limit (in dollars per share)	$ 8.10
Options outstanding (in shares) | shares	687,100
Options outstanding, weighted average remaining contractual life (Year)	6 years 2 months 8 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 6.134
Options exercisable (in shares) | shares	647,100
Options excercisable, weighted average remaining contractual life (Year)	6 years 1 month 2 days
Exercise Price Range 5 [Member]
Per share exercise price, lower limit (in dollars per share)	$ 9.99
Per share exercise price, upper limit (in dollars per share)	$ 10.10
Options outstanding (in shares) | shares	262,048
Options outstanding, weighted average remaining contractual life (Year)	7 years 6 months 21 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 9.992
Options exercisable (in shares) | shares	156,024
Options excercisable, weighted average remaining contractual life (Year)	7 years 2 months 23 days
Exercise Price Range 6 [Member]
Per share exercise price, lower limit (in dollars per share)	$ 15.1
Options outstanding (in shares) | shares	193,823
Options outstanding, weighted average remaining contractual life (Year)	4 years 5 months 12 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 15.100
Options exercisable (in shares) | shares	193,823
Options excercisable, weighted average remaining contractual life (Year)	4 years 5 months 12 days