Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | May 02, 2023 | |
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 | Q1 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
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, $0.001 par value | |
Trading Symbol | PBLA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,786,821 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 5,235 | $ 1,285 |
Prepaid expenses and other current assets | 2,549 | 443 |
Income tax receivable | 49 | 49 |
Total current assets | 7,833 | 1,777 |
Deposits held for clinical trial costs | 8,642 | 3,201 |
Total assets | 16,475 | 4,978 |
Current liabilities: | ||
Accounts payable | 7,341 | 2,865 |
Accrued expenses | 1,363 | 2,993 |
Accrued interest payable | 42 | 325 |
Note payable | 0 | 650 |
Debt, current portion | 1,000 | 1,000 |
Total current liabilities | 9,746 | 7,833 |
Debt, net of current portion | 4,194 | 5,194 |
Total non current liabilities | 4,194 | 5,194 |
Total liabilities | 13,940 | 13,027 |
Stockholders' equity (deficit): | ||
Preferred stock, $0.001 par value; 10,000,000 authorized; no shares issued or outstanding as of March 31, 2023 and December 31, 2022 | 0 | 0 |
Common stock, $0.001 par value; 100,000,000 authorized; 16,089,316 and 1,049,644 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively | 16 | 1 |
Additional paid-in capital | 97,804 | 82,285 |
Accumulated deficit | (96,207) | (91,094) |
Accumulated comprehensive income | 922 | 759 |
Total stockholders' equity (deficit) | 2,535 | (8,049) |
Total liabilities and stockholders' equity (deficit) | $ 16,475 | $ 4,978 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2023 | Dec. 31, 2022 |
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) | 16,089,316 | 1,049,644 |
Common stock, shares outstanding (in shares) | 16,089,316 | 1,049,644 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating expenses: | ||
General and administrative | $ 1,352 | $ 1,796 |
Research and development | 3,508 | 2,208 |
Operating loss | (4,860) | (4,004) |
Other (expense) income: | ||
Interest income | 16 | 1 |
Interest expense | (102) | (3) |
Other (expense) income | (167) | 311 |
Total other (expense) income | (253) | 309 |
Loss before income tax benefit | (5,113) | (3,695) |
Income tax benefit | 0 | 29 |
Net loss | (5,113) | (3,666) |
Foreign currency translation adjustment | 163 | (299) |
Comprehensive loss | $ (4,950) | $ (3,965) |
Basic and diluted net loss per share (in dollars per share) | $ (0.65) | $ (10.91) |
Weighted average shares outstanding - basic and diluted (in shares) | 7,821,556 | 336,011 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Unaudited) - USD ($) $ 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, 2021 | 335,961 | ||||
Balances at Dec. 31, 2021 | $ 0 | $ 66,240 | $ (56,161) | $ 133 | $ 10,212 |
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 | 335,961 | ||||
Balances at Mar. 31, 2022 | $ 0 | 66,574 | (59,827) | (166) | 6,581 |
Balances (in shares) at Dec. 31, 2022 | 1,049,644 | ||||
Balances at Dec. 31, 2022 | $ 1 | 82,285 | (91,094) | 759 | (8,049) |
Proceeds from sale of Common Stock (in shares) | 7,115,754 | ||||
Proceeds from sale of Common Stock | $ 7 | 15,351 | 0 | 0 | 15,358 |
Cash paid for fractional shares | $ 0 | (4) | 0 | 0 | (4) |
Warrant exchange cashless (in shares) | 7,923,918 | ||||
Warrant exchange cashless | $ 8 | (8) | 0 | 0 | 0 |
Stock-based compensation | 0 | 180 | 0 | 0 | 180 |
Net loss | 0 | 0 | (5,113) | 0 | (5,113) |
Foreign currency translation adjustment | $ 0 | 0 | 0 | 163 | 163 |
Balances (in shares) at Mar. 31, 2023 | 16,089,316 | ||||
Balances at Mar. 31, 2023 | $ 16 | $ 97,804 | $ (96,207) | $ 922 | $ 2,535 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (5,113) | $ (3,666) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 180 | 334 |
Non-cash interest expense | 42 | 0 |
Changes in operating assets and liabilities: | ||
Income tax receivable | 0 | (33) |
Prepaid expenses and other current assets | (2,108) | (89) |
Deposits held for clinical trial costs | (5,441) | (2,561) |
Accounts payable | 4,644 | 3,030 |
Accrued liabilities | (1,955) | (1,498) |
Net cash used in operating activities | (9,751) | (4,483) |
Cash flows from financing activities: | ||
Proceeds from sale of common stock and warrants, net offering costs of $1,302 | 15,358 | 0 |
Cash paid for fractional shares | (4) | 0 |
Principal payments on notes | (1,650) | 0 |
Net cash provided by financing activities | 13,704 | 0 |
Effect of exchange rate changes on cash | (3) | 2 |
Net change in cash | 3,950 | (4,481) |
Cash and cash equivalents at beginning of period | 1,285 | 11,867 |
Cash and cash equivalents at end of period | 5,235 | 7,386 |
Supplemental disclosure of cash flow information: | ||
Cash paid during period for interest | 386 | 3 |
Supplemental disclosure of non-cash transactions: | ||
Cashless exercise of warrants | $ (8) | $ 0 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Proceeds from issuance of common stock and warrants, issuance costs | $ 1,302 |
Note 1 - Business
Note 1 - Business | 3 Months Ended |
Mar. 31, 2023 | |
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”) Cancer Prevention Pharmaceuticals, Inc. (“CPP”) and Cancer Prevention Pharma (Ireland) Limited 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 two 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 April 4, 2023. Reverse stock split Effective January 13, 2023, 1 7 |
Note 2 - Risks and Uncertaintie
Note 2 - Risks and Uncertainties | 3 Months Ended |
Mar. 31, 2023 | |
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 (the “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 $96.2 million since our inception in 2011. three March 31, 2023, two March 31, 2023, 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 2022 March 16, 2023. 4 March 2023 three 19” no January 2022, not 19. |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2023 | |
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, 2022, not 10 may not |
Note 4 - Liquidity and Business
Note 4 - Liquidity and Business Plan | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 4. Liquidity and Business Plan On January 30, 2023, first 2023, We 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 our product candidates ivospemin, Flynpovi and eflornithine in the United States or other markets and ultimately our ability to market and sell product candidates. If we are unable to obtain additional financing when needed, if our clinical trials are not not There can be no |
Note 5 - Summary of Significant
Note 5 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
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 with the ongoing pandemic and control responses. Research and development costs Research and development costs include expenses incurred in the conduct of our clinical trials; for third 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. The cost to secure certain third 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 on historical company share price volatility. 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 March 31, 2023 2022, 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 is anti-dilutive or reduce a net loss per share. The Company’s potentially 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 March 31, 2023 2022 Employee and non-employee stock options 408,017 61,103 Restricted stock units - 134 Common stock issuable under common stock purchase warrants 3,670,701 127,737 4,078,718 188,974 |
Note 6 - Notes Payable
Note 6 - Notes Payable | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. Notes Payable Sucampo promissory note As of March 31, 2023, June 15, 2022. January 31, 2023, January 31, 2024, January 31, 2025, January 31, 2026; January 31, 2027. February 1, 2023 March 31, 2023, June 15, 2022. Tillotts promissory note As of December 31, 2022, January 31, 2023. |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 7. Stockholders Equity Public offering of common stock and warrants On January 30, 2023, 1. All of the prefunded warrants were exercised by February 3, 2023. may x March 1, 2023, March 31, 2023, At-the-market program We are party to a Sales Agreement dated July 29, 2022, may December 2022 During January 2023, March 31, 2023 Reverse stock split On November 29, 2022, one forty 1:40 January 13, 2023, forty one 1 No not January 13, 2023, one forty 1:40 January 13, 2023. Shares reserved The following shares of common stock were reserved for future issuance as of the date indicated: March 31, 2023 Stock options outstanding 408,017 Restricted stock units - Shares available for grant under equity incentive plan 5 Warrants outstanding 3,670,701 4,078,723 |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 8. Stock-based Compensation 2016 The Panbela Therapeutics, Inc. 2016 “2016 March 2016 May 2016. 2016 2016 no 2016 ten March 31, 2023, 2016 five 2011 Our Board of Directors ceased making awards under the Panbela Therapeutics, Inc. 2011 “2011 2016 May 2016. 2011 March 31, 2023, 2011 CPP s 2010 The Company has assumed all remaining rights and obligations with respect to CPP’s 2010 March 31, 2023, Stock-based compensation expense General and administrative (“G&A”) and research and development (“R&D”) 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 March 31, 2023 March 31, 2023. Stock-based compensation expense for each of the periods presented is as follows (in thousands): Three Months Ended March 31, 2023 2022 General and administrative $ 140 $ 271 Research and development 40 63 Total stock based compensation $ 180 $ 334 Details of options available to grant, granted, exercised, cancelled, or forfeited during the three March 31, 2023 Shares Underlying Options Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Balance at January 1, 2023 100,556 $ 145.48 $ - Granted 307,461 0.50 Exercised - - Cancelled - - Forfeitures or expirations - - Balance at March 31, 2023 408,017 $ 36.24 $ - Information about stock options outstanding, vested and expected to vest as of March 31, 2023, Outstanding, Vested and Expected to Vest Options Vested and Exercisable Per Share Exercise Price Shares Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Options Exercisable Weighted Average Remaining Contractual Life (Years) $.50 - $58.80 347,271 9.63 $ 2.08 39,812 6.87 $90.40 - $91.00 1,578 7.78 $ 90.46 625 6.74 $100.00 - $166.80 30,595 6.13 $ 135.94 27,174 5.89 $180.00 - $244.00 11,676 5.69 $ 208.29 10,738 5.56 $324.00 - $404.00 12,051 5.94 $ 365.14 10,725 5.77 604.00 4,846 3.70 $ 604.00 4,845 3.70 Totals 408,017 9.09 $ 36.24 93,919 6.15 Assumptions used to calculate the fair market value of options granted in the quarter ended March 31, 2023 2023 Common stock fair value $0.50 Risk-free interest rate 3.59% - 3.60% Expected dividend yield - Expected Option life 5.08 - 5.50 Expected stock price volatility 131.3% - 138.0% |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
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 with the ongoing pandemic and control responses. |
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 third 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. The cost to secure certain third 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 on historical company share price volatility. 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 March 31, 2023 2022, |
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 is anti-dilutive or reduce a net loss per share. The Company’s potentially 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 March 31, 2023 2022 Employee and non-employee stock options 408,017 61,103 Restricted stock units - 134 Common stock issuable under common stock purchase warrants 3,670,701 127,737 4,078,718 188,974 |
Note 5 - Summary of Significa_2
Note 5 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | March 31, 2023 2022 Employee and non-employee stock options 408,017 61,103 Restricted stock units - 134 Common stock issuable under common stock purchase warrants 3,670,701 127,737 4,078,718 188,974 |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Common Stock Reserved for Future Issuance [Table Text Block] | March 31, 2023 Stock options outstanding 408,017 Restricted stock units - Shares available for grant under equity incentive plan 5 Warrants outstanding 3,670,701 4,078,723 |
Note 8 - Stock-based Compensa_2
Note 8 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2023 2022 General and administrative $ 140 $ 271 Research and development 40 63 Total stock based compensation $ 180 $ 334 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Shares Underlying Options Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Balance at January 1, 2023 100,556 $ 145.48 $ - Granted 307,461 0.50 Exercised - - Cancelled - - Forfeitures or expirations - - Balance at March 31, 2023 408,017 $ 36.24 $ - |
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 Remaining Contractual Life (Years) Weighted Average Exercise Price Options Exercisable Weighted Average Remaining Contractual Life (Years) $.50 - $58.80 347,271 9.63 $ 2.08 39,812 6.87 $90.40 - $91.00 1,578 7.78 $ 90.46 625 6.74 $100.00 - $166.80 30,595 6.13 $ 135.94 27,174 5.89 $180.00 - $244.00 11,676 5.69 $ 208.29 10,738 5.56 $324.00 - $404.00 12,051 5.94 $ 365.14 10,725 5.77 604.00 4,846 3.70 $ 604.00 4,845 3.70 Totals 408,017 9.09 $ 36.24 93,919 6.15 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2023 Common stock fair value $0.50 Risk-free interest rate 3.59% - 3.60% Expected dividend yield - Expected Option life 5.08 - 5.50 Expected stock price volatility 131.3% - 138.0% |
Note 1 - Business (Details Text
Note 1 - Business (Details Textual) | Jan. 13, 2023 |
Reverse Stock Split [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 40 |
Note 2 - Risks and Uncertaint_2
Note 2 - Risks and Uncertainties (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Retained Earnings (Accumulated Deficit) | $ (96,207) | $ (91,094) | ||
Net Income (Loss) Attributable to Parent | (5,113) | $ (3,666) | ||
Net Cash Provided by (Used in) Operating Activities | (9,751) | (4,483) | ||
Net Cash Provided by (Used in) Financing Activities | 13,704 | 0 | ||
Cash and Cash Equivalents, at Carrying Value | 5,235 | 1,285 | ||
Working Capital | (1,900) | |||
Equity, Attributable to Parent | $ 2,535 | $ 6,581 | $ (8,049) | $ 10,212 |
Note 4 - Liquidity and Busine_2
Note 4 - Liquidity and Business Plan (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | |
Jan. 30, 2023 | Jan. 30, 2023 | Mar. 31, 2023 | |
Registered Public Offering [Member] | |||
Proceeds from Issuance or Sale of Equity | $ 13.8 | ||
ATM Program [Member] | |||
Proceeds from Issuance of Common Stock | $ 1.6 | $ 1.6 |
Note 5 - Summary of Significa_3
Note 5 - Summary of Significant Accounting Policies - Anti-dilutive Securities (Details) - shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Anti-dilutive securities (in shares) | 4,078,718 | 188,974 |
Share-Based Payment Arrangement [Member] | ||
Anti-dilutive securities (in shares) | 408,017 | 61,103 |
Restricted Stock Units (RSUs) [Member] | ||
Anti-dilutive securities (in shares) | 0 | 134 |
Warrant [Member] | ||
Anti-dilutive securities (in shares) | 3,670,701 | 127,737 |
Note 6 - Notes Payable (Details
Note 6 - Notes Payable (Details Textual) - USD ($) | Feb. 01, 2023 | Jun. 15, 2022 | Mar. 31, 2023 | Dec. 31, 2022 |
Sucampo Note [Member] | ||||
Long-Term Debt | $ 6,200,000 | $ 5,200,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5% | |||
Debt Instrument, Periodic Payment, Total | $ 1,000,000 | |||
Repayments of Long-Term Debt | $ 1,000,000 | |||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | $ 295,000 | |||
Interest Payable | $ 42,000 | |||
Tillotts Note [Member] | ||||
Long-Term Debt | $ 700,000 | |||
Debt Instrument, Face Amount | $ 650,000 |
Note 7 - Stockholders' Equity_2
Note 7 - Stockholders' Equity (Details Textual) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Jan. 30, 2023 USD ($) $ / shares shares | Jan. 13, 2023 | Jan. 30, 2023 USD ($) $ / shares shares | Mar. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) | Jul. 29, 2022 USD ($) | |
Payments of Stock Issuance Costs | $ | $ 1,302 | |||||
Reverse Stock Split [Member] | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 40 | |||||
Pre-funded Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,832,776 | 1,832,776 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | ||||
Common Stock Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 13,350,000 | 13,350,000 | 2,784,776 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.75 | $ 2.75 | $ 2.75 | |||
Class of Warrants or Rights, Cashless Exchange Feature (in shares) | 0.75 | 0.75 | ||||
Class of Warrant or Right, Exercised During Period (in shares) | 10,565,224 | |||||
Registered Public Offering [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 4,842,224 | |||||
Units Issued, Stock and Warrant, Price Per Share (in dollars per share) | $ / shares | $ 2.25 | $ 2.25 | ||||
Units Issued, Stock and Warrant, Number of Warrants Per Unit (in shares) | 2 | 2 | ||||
Units Issued, Warrant and Warrant, Price Per Unit (in dollars per share) | $ / shares | $ 2.24 | $ 2.24 | ||||
Units Issued, Warrant and Warrant, Warrant Per Unit (in shares) | 2 | 2 | ||||
Proceeds from Issuance or Sale of Equity | $ | $ 13,800,000 | |||||
Stock Issued During Period, Shares, Cashless Exercise of Warrants (in shares) | 7,923,918 | |||||
ATM Program [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 440,825 | |||||
Equity Offering, Maximum Amount | $ | $ 8,400,000 | |||||
Equity Offering, Commission, Percentage of Gross Proceeds | 3% | |||||
Payments of Stock Issuance Costs | $ | $ 44,000 | |||||
Proceeds from Issuance of Common Stock | $ | $ 1,600,000 | $ 1,600,000 | ||||
Proceeds from Issuance of Common Stock, Net | $ | $ 1,600,000 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Common Stock Reserved for Future Issuance (Details) | Mar. 31, 2023 shares |
Shares reserved (in shares) | 4,078,723 |
Warrant [Member] | |
Shares reserved (in shares) | 3,670,701 |
Share-Based Payment Arrangement, Option [Member] | |
Shares reserved (in shares) | 408,017 |
Restricted Stock Units (RSUs) [Member] | |
Shares reserved (in shares) | 0 |
Shares Available for Grant Under Equity Incentive Plan [Member] | |
Shares reserved (in shares) | 5 |
Note 8 - Stock-based Compensa_3
Note 8 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 408,017 | 100,556 |
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 36.24 | |
Share-Based Payment Arrangement, Option [Member] | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 0.7 | |
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 (in shares) | 362,956 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 5 | |
Panbela Therapeutics, Inc. 2011 Stock Option Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 5,600 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 1 year 8 months 12 days | |
CPP's 2010 Equity Incentive Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 39,461 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 6 years 10 months 24 days | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 14.013 |
Note 8 - Stock-based Compensa_4
Note 8 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Share-based compensation expense | $ 180 | $ 334 |
General and Administrative Expense [Member] | ||
Share-based compensation expense | 140 | 271 |
Research and Development Expense [Member] | ||
Share-based compensation expense | $ 40 | $ 63 |
Note 8 - Stock-based Compensa_5
Note 8 - Stock-based Compensation - Summary of Option Activity (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Balance, shares available for grant (in shares) | 100,556 | |
Balance, weighted average exercise price per share (in dollars per share) | $ 145.48 | |
Aggregate intrinsic value | $ 0 | $ 0 |
Granted, shares available for grant (in shares) | 307,461 | |
Granted, weighted average exercise price per share (in dollars per share) | $ 0.50 | |
Excercised, shares available for grant (in shares) | 0 | |
Excercised, weighted average exercise price per share (in dollars per share) | $ 0 | |
Cancelled, shares available for grant (in shares) | 0 | |
Forfeitures or expirations (in shares) | 0 | |
Forfeitures or expirations (in dollars per share) | $ 0 | |
Balance, shares available for grant (in shares) | 408,017 | |
Balance, weighted average exercise price per share (in dollars per share) | $ 36.24 |
Note 8 - Stock-based Compensa_6
Note 8 - Stock-based Compensation - Options Outstanding (Details) | 3 Months Ended |
Mar. 31, 2023 $ / shares shares | |
Options outstanding (in shares) | shares | 408,017 |
Options outstanding, weighted average remaining contractual life (Year) | 9 years 1 month 2 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 36.24 |
Options exercisable (in shares) | shares | 93,919 |
Options excercisable, weighted average remaining contractual life (Year) | 6 years 1 month 24 days |
Exercise Price Range 1 [Member] | |
Per share exercise price, lower limit (in dollars per share) | $ 0.50 |
Per share exercise price, upper limit (in dollars per share) | $ 58.80 |
Options outstanding (in shares) | shares | 347,271 |
Options outstanding, weighted average remaining contractual life (Year) | 9 years 7 months 17 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 2.08 |
Options exercisable (in shares) | shares | 39,812 |
Options excercisable, weighted average remaining contractual life (Year) | 6 years 10 months 13 days |
Exercise Price Range 2 [Member] | |
Per share exercise price, lower limit (in dollars per share) | $ 90.40 |
Per share exercise price, upper limit (in dollars per share) | $ 91 |
Options outstanding (in shares) | shares | 1,578 |
Options outstanding, weighted average remaining contractual life (Year) | 7 years 9 months 10 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 90.46 |
Options exercisable (in shares) | shares | 625 |
Options excercisable, weighted average remaining contractual life (Year) | 6 years 8 months 26 days |
Exercise Price Range 3 [Member] | |
Per share exercise price, lower limit (in dollars per share) | $ 100 |
Per share exercise price, upper limit (in dollars per share) | $ 166.80 |
Options outstanding (in shares) | shares | 30,595 |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 1 month 17 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 135.94 |
Options exercisable (in shares) | shares | 27,174 |
Options excercisable, weighted average remaining contractual life (Year) | 5 years 10 months 20 days |
Exercise Price Range 4 [Member] | |
Per share exercise price, lower limit (in dollars per share) | $ 180 |
Per share exercise price, upper limit (in dollars per share) | $ 244 |
Options outstanding (in shares) | shares | 11,676 |
Options outstanding, weighted average remaining contractual life (Year) | 5 years 8 months 8 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 208.29 |
Options exercisable (in shares) | shares | 10,738 |
Options excercisable, weighted average remaining contractual life (Year) | 5 years 6 months 21 days |
Exercise Price Range 5 [Member] | |
Per share exercise price, lower limit (in dollars per share) | $ 324 |
Per share exercise price, upper limit (in dollars per share) | $ 404 |
Options outstanding (in shares) | shares | 12,051 |
Options outstanding, weighted average remaining contractual life (Year) | 5 years 11 months 8 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 365.14 |
Options exercisable (in shares) | shares | 10,725 |
Options excercisable, weighted average remaining contractual life (Year) | 5 years 9 months 7 days |
Exercise Price Range 6 [Member] | |
Per share exercise price, lower limit (in dollars per share) | $ 604 |
Options outstanding (in shares) | shares | 4,846 |
Options outstanding, weighted average remaining contractual life (Year) | 3 years 8 months 12 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 604 |
Options exercisable (in shares) | shares | 4,845 |
Options excercisable, weighted average remaining contractual life (Year) | 3 years 8 months 12 days |
Note 8 - Stock-based Compensa_7
Note 8 - Stock-based Compensation - Fair Market Value Assumptions of Options Granted (Details) | 3 Months Ended |
Mar. 31, 2023 USD ($) $ / shares | |
Common stock fair value (in dollars per share) | $ / shares | $ 0.50 |
Expected dividend yield | $ | $ 0 |
Minimum [Member] | |
Risk-free interest rate | 3.59% |
Expected Option life (Year) | 5 years 29 days |
Expected stock price volatility | 131.30% |
Maximum [Member] | |
Risk-free interest rate | 3.60% |
Expected Option life (Year) | 5 years 6 months |
Expected stock price volatility | 138% |