Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 09, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-39468 | |
Entity Registrant Name | Panbela Therapeutics, Inc. | |
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 | |
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 (in shares) | 4,854,861 | |
Entity Central Index Key | 0001029125 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 59,000 | $ 2,578,000 |
Prepaid expenses and other current assets | 393,000 | 299,000 |
Income tax receivable | 320,000 | 183,000 |
Total current assets | 772,000 | 3,060,000 |
Other non-current assets | 8,642,000 | 8,742,000 |
Total assets | 9,414,000 | 11,802,000 |
Current liabilities: | ||
Accounts payable | 14,293,000 | 9,939,000 |
Accrued expenses | 1,408,000 | 1,141,000 |
Accrued interest payable | 87,000 | 238,000 |
Debt, current portion | 1,000,000 | 1,000,000 |
Total current liabilities | 16,788,000 | 12,318,000 |
Debt, net of current portion | 3,194,000 | 4,194,000 |
Total non-current liabilities | 3,194,000 | 4,194,000 |
Total liabilities | 19,982,000 | 16,512,000 |
Stockholders' deficit: | ||
Preferred stock, $0.001 par value; 10,000,000 authorized; no shares issued or outstanding as of June 30, 2024 and December 31, 2023 | 0 | 0 |
Common stock, $0.001 par value; 100,000,000 authorized; 4,854,931 and 480,095 issued as of June 30, 2024 and December 31, 2023 respectively; 4,854,861 and 480,025 shares outstanding as of June 30, 2024 and December 31, 2023, respectively | 5,000 | 0 |
Treasury Stock at cost; 70 shares at both of June 30, 2024 and December 31, 2023 | (1,000) | (1,000) |
Additional paid-in capital | 128,223,000 | 120,043,000 |
Accumulated deficit | (139,757,000) | (125,497,000) |
Accumulated comprehensive income | 962,000 | 745,000 |
Total stockholders' deficit | (10,568,000) | (4,710,000) |
Total liabilities and stockholders' deficit | $ 9,414,000 | $ 11,802,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
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) | 4,854,931 | 480,095 |
Common Stock, Shares, Outstanding (in shares) | 4,854,861 | 480,025 |
Treasury Stock, Common, Shares (in shares) | 70 | 70 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating expenses: | ||||
General and administrative | $ 1,106 | $ 1,643 | $ 2,310 | $ 2,995 |
Research and development | 6,997 | 4,234 | 12,519 | 7,750 |
Operating loss | (8,103) | (5,877) | (14,829) | (10,745) |
Other income (expense): | ||||
Interest income | 0 | 49 | 0 | 65 |
Gain on sale of intellectual property | 775 | 0 | 775 | 0 |
Interest expense | (59) | (70) | (121) | (173) |
Other income (expense) | 248 | (82) | (223) | (247) |
Total other income (expense) | 964 | (103) | 431 | (355) |
Loss before income tax benefit | (7,139) | (5,980) | (14,398) | (11,100) |
Income tax benefit | 0 | 147 | 138 | 149 |
Net loss | (7,139) | (5,833) | (14,260) | (10,951) |
Foreign currency translation adjustment | (242) | 68 | 217 | 231 |
Comprehensive loss | $ (7,381) | $ (5,765) | $ (14,043) | $ (10,720) |
Basic and diluted net loss per share (in dollars per share) | $ (1.47) | $ (159.15) | $ (3.58) | $ (441.77) |
Weighted average shares outstanding - basic and diluted (in shares) | 4,854,861 | 36,650 | 3,984,355 | 24,790 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Unaudited) - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Treasury Stock, Common [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2022 | 1,738 | 0 | ||||
Balance at Dec. 31, 2022 | $ 0 | $ 0 | $ 82,286 | $ (91,094) | $ 759 | $ (8,049) |
Proceeds from sale of Common Stock, shares (in shares) | 11,853 | 0 | ||||
Proceeds from sale of Common Stock | $ 0 | $ 0 | 15,358 | 0 | 0 | 15,358 |
Stock-based compensation | 0 | 0 | 180 | 0 | 0 | 180 |
Net loss | 0 | 0 | 0 | (5,118) | 0 | (5,118) |
Foreign currency translation adjustment | $ 0 | $ 0 | 0 | 0 | 163 | 163 |
Cash paid for fractional shares (in shares) | 0 | 0 | ||||
Cash paid for fractional shares | $ 0 | $ 0 | (4) | 0 | 0 | (4) |
Warrant exchange cashless (in shares) | 13,197 | 0 | ||||
Warrant exchange cashless | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Adjust for Stock Split on 6/1/2023 (in shares) | 0 | 0 | ||||
Balance (in shares) at Mar. 31, 2023 | 26,788 | 0 | ||||
Balance at Mar. 31, 2023 | $ 0 | $ 0 | 97,820 | (96,212) | 922 | 2,530 |
Balance (in shares) at Dec. 31, 2022 | 1,738 | 0 | ||||
Balance at Dec. 31, 2022 | $ 0 | $ 0 | 82,286 | (91,094) | 759 | (8,049) |
Net loss | (10,951) | |||||
Foreign currency translation adjustment | 231 | |||||
Balance (in shares) at Jun. 30, 2023 | 130,584 | 0 | ||||
Balance at Jun. 30, 2023 | $ 0 | $ 0 | 105,857 | (102,045) | 990 | 4,802 |
Balance (in shares) at Mar. 31, 2023 | 26,788 | 0 | ||||
Balance at Mar. 31, 2023 | $ 0 | $ 0 | 97,820 | (96,212) | 922 | 2,530 |
Proceeds from sale of Common Stock, shares (in shares) | 100,442 | 0 | ||||
Proceeds from sale of Common Stock | $ 0 | $ 0 | 7,713 | 0 | 0 | 7,713 |
Stock-based compensation | 0 | 0 | 329 | 0 | 0 | 329 |
Net loss | 0 | 0 | 0 | (5,833) | 0 | (5,833) |
Foreign currency translation adjustment | $ 0 | $ 0 | 0 | 0 | 68 | 68 |
Cash paid for fractional shares (in shares) | 30 | 0 | ||||
Cash paid for fractional shares | $ 0 | $ 0 | (5) | 0 | 0 | (5) |
Warrant exchange cashless (in shares) | 3,384 | 0 | ||||
Warrant exchange cashless | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Adjust for Stock Split on 6/1/2023 (in shares) | (30) | 0 | ||||
Balance (in shares) at Jun. 30, 2023 | 130,584 | 0 | ||||
Balance at Jun. 30, 2023 | $ 0 | $ 0 | 105,857 | (102,045) | 990 | 4,802 |
Balance (in shares) at Dec. 31, 2023 | 480,025 | 70 | ||||
Balance at Dec. 31, 2023 | $ 0 | $ (1) | 120,043 | (125,497) | 745 | (4,710) |
Proceeds from sale of Common Stock, shares (in shares) | 4,374,836 | 0 | ||||
Proceeds from sale of Common Stock | $ 5 | $ 0 | 8,077 | 0 | 0 | 8,082 |
Stock-based compensation | 0 | 0 | 103 | 0 | 0 | 103 |
Net loss | 0 | 0 | 0 | (7,121) | 0 | (7,121) |
Foreign currency translation adjustment | $ 0 | $ 0 | 0 | 0 | 459 | 459 |
Balance (in shares) at Mar. 31, 2024 | 4,854,861 | 70 | ||||
Balance at Mar. 31, 2024 | $ 5 | $ (1) | 128,223 | (132,618) | 1,204 | (3,187) |
Balance (in shares) at Dec. 31, 2023 | 480,025 | 70 | ||||
Balance at Dec. 31, 2023 | $ 0 | $ (1) | 120,043 | (125,497) | 745 | (4,710) |
Net loss | (14,260) | |||||
Foreign currency translation adjustment | 217 | |||||
Balance (in shares) at Jun. 30, 2024 | 4,854,861 | 70 | ||||
Balance at Jun. 30, 2024 | $ 5 | $ (1) | 128,223 | (139,757) | 962 | (10,568) |
Balance (in shares) at Mar. 31, 2024 | 4,854,861 | 70 | ||||
Balance at Mar. 31, 2024 | $ 5 | $ (1) | 128,223 | (132,618) | 1,204 | (3,187) |
Net loss | 0 | 0 | 0 | (7,139) | 0 | (7,139) |
Foreign currency translation adjustment | $ 0 | $ 0 | 0 | 0 | (242) | (242) |
Balance (in shares) at Jun. 30, 2024 | 4,854,861 | 70 | ||||
Balance at Jun. 30, 2024 | $ 5 | $ (1) | $ 128,223 | $ (139,757) | $ 962 | $ (10,568) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ (14,260) | $ (10,951) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 103 | 509 |
Non-cash interest expense | 87 | 107 |
Gain on sale of intellectual property | (775) | 0 |
Income tax receivable | (140) | (149) |
Prepaid expenses and other current assets | (96) | (2,967) |
Other non-current assets | 100 | (5,541) |
Accounts payable | 4,578 | 5,811 |
Accrued liabilities | 30 | (2,311) |
Net cash used in operating activities | (10,373) | (15,492) |
Gain on sale of intellectual property | 775 | 0 |
Cash flows from investing activities: | ||
Proceeds from sale of intellectual property | 775 | 0 |
Net cash provided by investing activities | 775 | 0 |
Cash flows from financing activities: | ||
Proceeds from public offering of common stock and warrants, net of fees and offering costs of $0.9 million and $2.1 million respectively | 8,082 | 23,071 |
Cash paid for fractional shares | 0 | (9) |
Principal payments on notes | (1,000) | (1,650) |
Net cash provided by financing activities | 7,082 | 21,412 |
Effect of exchange rate changes on cash | (3) | 0 |
Net change in cash | (2,519) | 5,920 |
Cash and cash equivalents at beginning of period | 2,578 | 1,285 |
Cash and cash equivalents at end of period | 59 | 7,205 |
Supplemental disclosure of cash flow information: | ||
Cash paid during period for interest | 272 | 386 |
Supplemental disclosure of non-cash transactions: | ||
Cashless exercise of warrants | $ 0 | $ (8) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Payments of Stock Issuance Costs | $ 0.9 | $ 2.1 |
Note 1 - Business
Note 1 - Business | 6 Months Ended |
Jun. 30, 2024 | |
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 (“Cancer Prevention”) 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 wholly owned dormant subsidiaries: 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 are collectively referred to throughout this report 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) for which we have exclusively licensed the worldwide rights from the University of Florida Research Foundation, Inc., Flynpovi™ a combination of eflornithine (CPP-1X) and sulindac and eflornithine (CPP-1X) alone in tablet or sachet form. We have exclusively licensed rights from the Arizona Board of Regents of the University of Arizona to commercialize Flynpovi. Reverse stock splits Effective January 13, 2023, June 1, 2023, and January 18, 2024, the Company's Board of Directors approved one-for- forty thirty twenty |
Note 2 - Risks and Uncertaintie
Note 2 - Risks and Uncertainties | 6 Months Ended |
Jun. 30, 2024 | |
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 take many years, and is normally expected to involve substantial expenditures. On March 5, 2024, the Nasdaq Stock Market LLC (“Nasdaq”) notified us that the Nasdaq Hearings Panel had determined to delist our common stock and trading of our common stock was suspended on Nasdaq effective March 7, 2024. On April 17, 2024, our common stock became eligible for quotation on the OTCQB. Also in April 2024, Nasdaq filed a Form 25 Notification of Removal from Listing with the U.S. Securities and Exchange Commission (the “SEC”) and the delisting of our common stock from Nasdaq became effective ten days later. We have applied to relist our common stock on the Nasdaq. No assurances can be given that we will satisfy the initial listing criteria, the application will be approved, or, if listed, that a trading market will develop or be maintained. In the interim, we intend to maintain the existing eligibility for quotation of our common stock on the OTCQB under its current symbol, “PBLA.” We have incurred losses of $139.8 million since our inception in 2011. For the six months ended June 30, 2024, we incurred a net loss of $14.3 million. We also incurred negative cash flows from operating activities of approximately $10.4 million for this period. As we continue to pursue development activities and seek commercialization, we expect to incur substantial losses, which are likely to generate negative net cash flows from operating activities. As of June 30, 2024, we had cash of approximately $59,000, working capital deficit of $16.0 million, (working capital is defined as current assets less current liabilities), and stockholders’ deficit of $10.6 million. The Company’s principal sources of cash have historically included the issuance of debt and equity securities. As previously announced, our contract research organization (“CRO”) for the ASPIRE trial notified the Company of their intent to terminate our relationship as of June 15, 2024 if we were unable to pay the balance due within a satisfactory timeframe. In exchange for a $1.5 million payment made on July 26, 2024, our CRO for the ASPIRE trial has provided an extension of their intent to terminate our relationship to August 19, 2024. The payment to that CRO was funded by proceeds from a loan secured by the Company, as further described in both Note 4, titled “Liquidity and Business Plan” and Note 10, titled “Subsequent Events”. If we are unable to pay the remaining balance due, or unable to negotiate an extension, by August 16, 2024, the CRO will begin termination procedures as of August 19, 2024. The balance due totaled $11.2 million as of June 30, 2024, and is recorded in the Company’s current liabilities. If the CRO terminates the relationship, the ASPIRE trial could be delayed. 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 |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2024 | |
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-Q and Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These interim condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals, which, in the opinion of management, are necessary to present fairly our consolidated financial position, consolidated results of operations and consolidated cash flows for the periods and as of the dates presented. Our fiscal year ends on December 31. The condensed consolidated balance sheet as of December 31, 2023, was derived from audited consolidated financial statements but does not include all disclosures required by U.S. GAAP. These interim condensed consolidated financial statements should be read in conjunction with the annual consolidated financial statements and the notes thereto included in our most recent filed Annual Report on Form 10-K and our subsequent filings with the SEC. The nature of our business is such that the results of any interim period may not be indicative of the results to be expected for the entire year. |
Note 4 - Liquidity and Business
Note 4 - Liquidity and Business Plan | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 4. Liquidity and Business Plan On July 24, 2024, Panbela and its wholly-owned subsidiary, CPP, entered into a Loan Agreement (the “Loan Agreement”) with USWM, LLC (“USWM”) by executing and delivering to the Lender a Term Promissory Note (the “USWM Term Note”). Pursuant to the Loan Agreement, Panbela and CPP obtained a term loan from USWM in the original principal amount of $1,500,000 (the “USWM Loan”). The Loan Agreement and USWM Term Note are described in more detail in Note 10 titled “Subsequent Events”. On January 31, 2024, the Company completed a registered public offering of common stock and warrants to purchase shares of common stock which resulted in gross proceeds of approximately $9.0 million. During the year ended December 31, 2023, the Company completed two registered offerings of common stock and warrants to purchase shares of common stock. On June 21, 2023 and January 31, 2023, the Company completed registered public offerings for gross proceeds of approximately $8.5 million and $15.0 million, respectively. The Company provided inducement warrants to certain shareholders to exercise their warrants. On November 2, 2023 gross proceeds were approximately $1.9 million and on December 21, 2023 the gross proceeds were approximately $2.0 million from these transactions. During 2023, the Company also sold shares of common stock via an At the Market (ATM) facility with net proceeds of approximately $1.6 million. We need to raise additional capital to support our current business plans. We may seek to raise additional funds through various sources, such as equity and debt financing, or through strategic collaborations and license agreements. We can give no assurances that we will be able to secure additional sources of funds to support our operations, or if such funds are available to us, that such additional financing will be sufficient to meet our needs or on terms acceptable to us. This risk would increase if our clinical data were not positive or economic and market conditions deteriorate. 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 successful or if we are unable to obtain marketing approval, we would not be able to continue as a going concern and would be forced to cease operations and liquidate our company. There can be no assurances that we will be able to obtain additional financing on commercially reasonable terms, or at all. The sale of additional convertible debt or equity securities would likely result in dilution to our current stockholders. |
Note 5 - Summary of Significant
Note 5 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
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-party service providers performing various testing and accumulating data related to our preclinical studies; sponsored research agreements; developing and scaling the manufacturing process necessary to produce sufficient amounts of drug product for our product candidates for use in our pre-clinical studies and human clinical trials; consulting resources with specialized expertise related to execution of our development plan for our product candidates; personnel costs, including salaries, benefits and share-based compensation; and costs to license and maintain licensed intellectual property. 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 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-party drug product for the clinical trials, which is often paid for in advance of delivery, is charged to research and development when it is received and available to be shipped to clinical sites. 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 alternative future use of the intellectual property subject to the license. 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 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 six-month periods ended June 30, 2024 and 2023, any reclassification adjustments from accumulated other comprehensive loss to operations were inconsequential. 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 been included in the computation of diluted net loss per share for all periods as the result would be anti-dilutive. The following table sets forth the potential shares of common stock that were not included in the calculation of diluted net loss per share as their effects would have been anti-dilutive as of the dates indicated: June 30, 2024 2023 Employee and non-employee stock options 607 607 Common stock issuable under common stock purchase warrants 9,090,939 10,139 9,091,546 10,746 |
Note 6 - Notes Payable
Note 6 - Notes Payable | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. Notes Payable Sucampo promissory note As of June 30, 2024, CPP had a balance outstanding of approximately $4.3 million for principal and interest under an amended and restated promissory note (the “Sucampo Note). The note was issued with an initial principal amount of approximately $6.2 million in favor of Sucampo GmbH dated as of June 15, 2022. The principal balance outstanding as of June 30, 2024 is approximately $4.2 million under the Sucampo Note and it bears simple interest at a rate of 5% per annum. All unpaid principal, together with any then unpaid and accrued interest is payable as follows: (i) $1.0 million, plus all interest accrued but unpaid on or before each of January 31, 2025, and January 31, 2026; and (ii) all remaining principal plus accrued but unpaid interest on or before January 31, 2027. On March 8, 2024, the Company paid the second installment on the balance due of $1.0 million plus accrued interest of approximately $260,000. This payment was made prior to the expiration of a grace period provided by the lender. As of June 30, 2024, the Company was current in all payments due under the Sucampo Note and the accrued and unpaid interest on this note was approximately $87,000. Panbela has agreed to guarantee CPP’s payment obligations under the Sucampo Note pursuant to a Guaranty dated as of June 15, 2022. |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | 7. Stockholders Equity Public offering of common stock and warrants January 2024 On January 31, 2024, the Company completed a registered public offering and issued an aggregate of 794,000 shares of its common stock, pre-funded warrants to purchase up to an aggregate of 3,581,000 shares of common stock at an exercise price of $0.001 per shares and warrants to purchase up to an aggregate of 8,750,000 shares of its common stock. The initial exercise price of the warrants is $2.06 per underlying share. The securities were issued for a combined offering price of $2.06 per share of common stock and 2 warrants, or $2.059 per pre-funded warrant and 2 warrants. Net proceeds from the offering totaled approximately $8.1 million. As of June 30, 2024, all pre-funded warrants had been exercised. The securities were offered pursuant to an effective registration statement on Form S-1. Reverse stock splits The Company effected a reverse stock split of one-for-twenty (1:20) on January 18, 2024. This reverse stock split was approved by the Company’s shareholders at a special meeting on December 19, 2023, and by our Board of Directors on January 13, 2024. On January 18, 2024, the Company filed a Certificate of Amendment of its Certificate of Incorporation, as amended with the Secretary of State of Delaware effecting a one-for-twenty (1:20) reverse stock split of the shares of the Company’s common stock, issued and outstanding, effective January 18, 2024. The Company effected a reverse stock split of one-for-thirty (1:30) on June 1, 2023. This reverse stock split was approved by the Company’s shareholders at our annual shareholders meeting on May 25, 2023, and by our Board of Directors on June 1, 2023. On June 1, 2023, the Company filed a Certificate of Amendment of its Certificate of Incorporation, as amended with the Secretary of State of Delaware effecting a one-for-thirty (1:30) reverse stock split of the shares of the Company’s common stock, issued and outstanding, effective June 1, 2023. The Company effected a reverse stock split of one-for-forty (1:40) on January 18, 2023. This reverse stock split was approved by the Company’s shareholders at our special meeting of our shareholders on November 29, 2022, and by our Board of Directors on January 5, 2023. On January 18, 2023, the Company filed a Certificate of Amendment of its Certificate of Incorporation, as amended with the Secretary of State of Delaware effecting a one-for-forty (1:40) reverse stock split of the shares of the Company’s common stock, issued and outstanding, effective January 18, 2023. The following shares of common stock were reserved for future issuance as of the date indicated: June 30, 2024 Stock options outstanding 607 Shares available for grant under equity incentive plan 163,800 Warrants outstanding 9,090,939 9,255,346 |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 8. Stock-based Compensation 2016 Omnibus Incentive Plan The 2016 Omnibus Incentive Plan, as amended (the “2016 Plan”) initially authorized the issuance of up to 116 shares of our common stock pursuant to awards granted thereunder and 164,246 shares have been added pursuant to its annual evergreen feature. As of June 30, 2024, options to purchase 561 shares of our common stock were outstanding under the 2016 Plan with a weighted average price of $14,420.00 per share and average remaining life of approximately 8.4 years. Approximately 163,800 shares of our common stock remained available for future grants under the 2016 Plan as of the same date. 2011 Stock Option Plan Our Board of Directors ceased making awards under the Panbela Therapeutics, Inc. 2011 Stock Option Plan (the “2011 Plan”) upon the original receipt of stockholder approval for the 2016 Plan in May 2016. Awards outstanding under the 2011 Plan remain outstanding in accordance with and pursuant to the terms thereof. As of June 30, 2024, options to purchase 5 shares of our common stock remained outstanding under the 2011 Plan. The weighted average exercise price is $76,200.00 per share, and the average remaining life is approximately 0.7 years. CPP s 2010 Equity Incentive Plan The Company has assumed all remaining rights and obligations with respect to CPP’s 2010 Equity Incentive Plan (the “CPP Plan”) through the issuance of replacement options. As of June 30, 2024, options to purchase 41 shares of our common stock remained outstanding under the CPP Plan, with a weighted average exercise price of $6,743.41 per share, and the average remaining contractual life was 6.2 years. 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 June 30, 2024, vest based upon time-based and performance conditions. There was no unamortized stock-based compensation expense related to options granted to employees, directors, and consultants as of June 30, 2024. Stock-based compensation expense for each of the periods presented is as follows (in thousands): Six Months Ended June 30, 2024 2023 General and Administrative $ 68 $ 416 Research and Development 35 93 $ 103 $ 509 There were no options granted, exercised, cancelled, or forfeited during the six months ended June 30, 2024. Information about stock options outstanding, vested and expected to vest as of June 30, 2024 is as follows: 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) $300 503 8.75 $ 300.00 503 8.75 $5,280 - $7,709 39 6.50 $ 5,280.00 39 6.50 $26,400 - $98,160 37 4.79 $ 79,787.03 37 4.79 $100,080 - $362,400 28 4.79 $ 194,220.00 28 4.79 Totals 607 8.18 $ 14,410.36 607 8.18 |
Note 9 - Gain on Sale of Intell
Note 9 - Gain on Sale of Intellectual Property | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 9. Gain on Sale of Intellectual Property In July of 2023, the Company divested certain rights, titles and interests in its eflornithine pediatric neuroblastoma program. Under the original terms of the agreement, the Company was entitled to receive up to approximately $9.5 million in non-dilutive funding in exchange for the sale of these assets. An initial payment of $0.4 million was recorded as a gain on sale of intellectual property at closing. On April 28, 2024, the Company negotiated an amendment to the agreement. In exchange for a second non-refundable payment of approximately $0.8 million the Company agreed to give up two potential future payments associated with two milestones. This nondilutive payment was received by the Company at the signing of the amendment and was recorded as a gain on sale of intellectual property. Per the amended terms, total potential payments remaining, if certain milestones are achieved, is approximately $7.6 million. The Company did not recognize a gain for any potential future payments as the milestones are not considered to be probable or measurable. |
Note109 - Subsequent Events
Note109 - Subsequent Events | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 10. Subsequent Events On July 24, 2024, Panbela and its wholly-owned subsidiary, CPP, entered into the Loan Agreement with USWM by executing and delivering to USWM the USWM Term Note. Pursuant to the Loan Agreement, the Panbela and CPP obtained a term loan from USWM in the original principal amount of $1,500,000 (the “USWM Loan”). The USWM Loan is scheduled to mature on the first to occur of: (i) the closing of a Qualifying Financing (as defined in the USWM Term Note); (ii) the closing of a Qualifying Transaction (as defined in the USWM Term Note) (the “Transaction Maturity Date”); and (iii) December 31, 2024 (as applicable, the “Financing Maturity Date”). As used in the USWM Term Note, (a) “ Qualifying Financing Qualifying Transaction The USWM Term Note had an original principal amount of $1,500,000 and bears interest and premium as follows: (i) interest and premium in the amount of $375,000 due and payable on the Financing Maturity Date; plus (ii) interest and premium in an amount equal to ten percent (10%) of all proceeds generated by the Company pursuant to a Qualifying Transaction (the “Qualifying Transaction Payment”), due and payable on the Transaction Maturity Date, provided, however, that the Qualifying Transaction Payment shall not exceed $1,000,000. The Company may prepay all or part of the USWM Term Note at any time without penalty. The USWM Loan proceeds may only be used by the Company for payment of fees and expenses owed to its CRO for the ASPIRE trial, for other working capital purposes, and to pay any fees or expenses in connection with the USWM Loan. To secure their obligations under the Loan Agreement and USWM Term Note, Panbela and CPP entered into a Security Agreement in favor of the USWM whereby each granted to USWM a first priority security interest in all of Panbela’s and CPP’s rights, title and interest in the Asset Purchase Agreement, dated July 17, 2023, by and among USWM, Panbela, and CPP. Effective as of July 31, 2024, Panbela issued a promissory note in the principal amount of $100,000 to current member of its Board of Directors, D. Robert Schemel, in exchange for a short term loan of the same amount. In accordance with our related party transaction approval policy, the transaction was approved by the audit committee of our Board of Directors, with Mr. Schemel abstaining from deliberation and voting on the matter. The promissory note is scheduled to mature on September 30, 2024 and bears interest at 10% per annum. The promissory note is subordinate to the UWSM Loan in right of repayment. |
Insider Trading Arrangements
Insider Trading Arrangements | 6 Months Ended |
Jun. 30, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | Item 5. Other Information. During the three 30 2024 408(a) |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
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-party service providers performing various testing and accumulating data related to our preclinical studies; sponsored research agreements; developing and scaling the manufacturing process necessary to produce sufficient amounts of drug product for our product candidates for use in our pre-clinical studies and human clinical trials; consulting resources with specialized expertise related to execution of our development plan for our product candidates; personnel costs, including salaries, benefits and share-based compensation; and costs to license and maintain licensed intellectual property. 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 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-party drug product for the clinical trials, which is often paid for in advance of delivery, is charged to research and development when it is received and available to be shipped to clinical sites. 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 alternative future use of the intellectual property subject to the license. |
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 |
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 six-month periods ended June 30, 2024 and 2023, any reclassification adjustments from accumulated other comprehensive loss to operations were inconsequential. |
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 been included in the computation of diluted net loss per share for all periods as the result would be anti-dilutive. The following table sets forth the potential shares of common stock that were not included in the calculation of diluted net loss per share as their effects would have been anti-dilutive as of the dates indicated: June 30, 2024 2023 Employee and non-employee stock options 607 607 Common stock issuable under common stock purchase warrants 9,090,939 10,139 9,091,546 10,746 |
Note 5 - Summary of Significa_2
Note 5 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | June 30, 2024 2023 Employee and non-employee stock options 607 607 Common stock issuable under common stock purchase warrants 9,090,939 10,139 9,091,546 10,746 |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Common Stock Reserved for Future Issuance [Table Text Block] | June 30, 2024 Stock options outstanding 607 Shares available for grant under equity incentive plan 163,800 Warrants outstanding 9,090,939 9,255,346 |
Note 8 - Stock-based Compensa_2
Note 8 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Six Months Ended June 30, 2024 2023 General and Administrative $ 68 $ 416 Research and Development 35 93 $ 103 $ 509 |
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) $300 503 8.75 $ 300.00 503 8.75 $5,280 - $7,709 39 6.50 $ 5,280.00 39 6.50 $26,400 - $98,160 37 4.79 $ 79,787.03 37 4.79 $100,080 - $362,400 28 4.79 $ 194,220.00 28 4.79 Totals 607 8.18 $ 14,410.36 607 8.18 |
Note 1 - Business (Details Text
Note 1 - Business (Details Textual) | Jan. 18, 2024 | Jun. 01, 2023 | Jan. 18, 2023 | Jan. 13, 2023 |
Reverse Stock Split [Member] | ||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 | 30 | 40 | 40 |
Note 2 - Risks and Uncertaint_2
Note 2 - Risks and Uncertainties (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||
Jul. 26, 2024 | Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | |
Retained Earnings (Accumulated Deficit) | $ 139,757,000 | $ 139,757,000 | $ 125,497,000 | $ 139,800,000 | ||||||
Net Income (Loss) Attributable to Parent | 7,139,000 | $ 7,121,000 | $ 5,833,000 | $ 5,118,000 | 14,260,000 | $ 10,951,000 | ||||
Net Cash Provided by (Used in) Operating Activities | 10,373,000 | 15,492,000 | ||||||||
Cash and Cash Equivalents, at Carrying Value | 59,000 | 59,000 | 2,578,000 | |||||||
Working Capital | 16,000,000 | 16,000,000 | ||||||||
Equity, Attributable to Parent | (10,568,000) | $ (3,187,000) | $ 4,802,000 | $ 2,530,000 | (10,568,000) | 4,802,000 | $ (4,710,000) | $ (8,049,000) | ||
Increase (Decrease) in Accounts Payable | (4,578,000) | $ (5,811,000) | ||||||||
CRO for ASPIRE Trials [Member] | ||||||||||
Accounts Payable | $ 11,200,000 | $ 11,200,000 | ||||||||
CRO for ASPIRE Trials [Member] | Subsequent Event [Member] | ||||||||||
Increase (Decrease) in Accounts Payable | $ 1,500,000 |
Note 4 - Liquidity and Busine_2
Note 4 - Liquidity and Business Plan (Details Textual) - USD ($) | 12 Months Ended | ||||||
Jan. 31, 2024 | Dec. 21, 2023 | Nov. 02, 2023 | Jun. 21, 2023 | Jan. 31, 2023 | Dec. 31, 2023 | Jul. 24, 2024 | |
Registered Public Offering [Member] | |||||||
Proceeds from Issuance or Sale of Equity | $ 9,000,000 | $ 8,500,000 | $ 15,000,000 | ||||
Inducement Warrant [Member] | |||||||
Proceeds from Issuance or Sale of Equity | $ 2,000,000 | $ 1,900,000 | |||||
ATM Program [Member] | |||||||
Proceeds from Issuance or Sale of Equity | $ 1,600,000 | ||||||
USWM Loan Agreement [Member] | |||||||
Debt Instrument, Face Amount | $ 1,500,000 |
Note 5 - Summary of Significa_3
Note 5 - Summary of Significant Accounting Policies (Details Textual) Pure in Thousands | 6 Months Ended |
Jun. 30, 2024 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% |
Note 5 - Summary of Significa_4
Note 5 - Summary of Significant Accounting Policies - Anti-dilutive Securities (Details) - shares | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Anti-dilutive securities (in shares) | 9,091,546 | 10,746 |
Share-Based Payment Arrangement [Member] | ||
Anti-dilutive securities (in shares) | 607 | 607 |
Warrant [Member] | ||
Anti-dilutive securities (in shares) | 9,090,939 | 10,139 |
Note 6 - Notes Payable (Details
Note 6 - Notes Payable (Details Textual) - Sucampo Note [Member] - USD ($) | Feb. 01, 2023 | Jun. 15, 2022 | Jun. 30, 2024 |
Long-Term Debt | $ 4,300,000 | ||
Debt Instrument, Face Amount | $ 6,200,000 | ||
Long-Term Debt, Gross | 4,200,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5% | ||
Debt Instrument, Periodic Payment | $ 1,000,000 | ||
Repayments of Long-Term Debt | $ 1,000,000 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | $ 260,000 | ||
Interest Payable | $ 87,000 |
Note 7 - Stockholders' Equity_2
Note 7 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Millions | Jan. 31, 2024 USD ($) $ / shares shares | Jan. 18, 2024 | Jun. 01, 2023 | Jan. 18, 2023 | Jan. 13, 2023 |
Reverse Stock Split [Member] | |||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 | 30 | 40 | 40 | |
Pre-funded Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 3,581,000 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.001 | ||||
Common Stock Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 8,750,000 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 2.06 | ||||
Registered Public Offering [Member] | |||||
Stock Issued During Period, Shares, New Issues | shares | 794,000 | ||||
Units Issued, Stock and Warrant, Price Per Share | $ / shares | $ 2.06 | ||||
Units Issued, Warrant and Warrant, Warrant Per Unit | shares | 2 | ||||
Units Issued, Warrant and Warrant, Price Per Unit | $ / shares | $ 2.059 | ||||
Proceeds from Issuance or Sale of Equity, Net | $ | $ 8.1 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Common Stock Reserved for Future Issuance (Details) | Jun. 30, 2024 shares |
Shares reserved (in shares) | 9,255,346 |
Share-Based Payment Arrangement, Option [Member] | |
Shares reserved (in shares) | 607 |
Shares Available for Grant Under Equity Incentive Plan [Member] | |
Shares reserved (in shares) | 163,800 |
Warrant [Member] | |
Shares reserved (in shares) | 9,090,939 |
Note 8 - Stock-based Compensa_3
Note 8 - Stock-based Compensation (Details Textual) - $ / shares | 6 Months Ended | |
Jun. 30, 2024 | Dec. 31, 2016 | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price | $ 14,410.36 | |
Panbela Therapeutics, Inc. 2016 Omnibus Incentive Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized | 116 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized | 164,246 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 561 | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price | $ 14,420 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 4 months 24 days | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | 163,800 | |
Panbela Therapeutics, Inc. 2011 Stock Option Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 5 | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price | $ 76,200 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 months 12 days | |
CPP's 2010 Equity Incentive Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 41 | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price | $ 6,743.41 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 6 years 2 months 12 days |
Note 8 - Stock-based Compensa_4
Note 8 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Share-based compensation expense | $ 103 | $ 509 |
General and Administrative Expense [Member] | ||
Share-based compensation expense | 68 | 416 |
Research and Development Expense [Member] | ||
Share-based compensation expense | $ 35 | $ 93 |
Note 8 - Stock-based Compensa_5
Note 8 - Stock-based Compensation - Options Outstanding (Details) | 6 Months Ended | |
Jun. 30, 2024 $ / shares shares | Jun. 30, 2024 $ / shares shares | |
Options outstanding (in shares) | shares | 607 | 607 |
Options outstanding, weighted average remaining contractual life (Year) | 8 years 2 months 4 days | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 14,410.36 | $ 14,410.36 |
Options exercisable (in shares) | shares | 607 | 607 |
Options excercisable, weighted average remaining contractual life (Year) | 8 years 2 months 4 days | |
Exercise Price Range 1 [Member] | ||
Per share exercise price, lower limit (in dollars per share) | $ 300 | |
Options outstanding (in shares) | shares | 503 | 503 |
Options outstanding, weighted average remaining contractual life (Year) | 8 years 9 months | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 300 | $ 300 |
Options exercisable (in shares) | shares | 503 | 503 |
Options excercisable, weighted average remaining contractual life (Year) | 8 years 9 months | |
Exercise Price Range 2 [Member] | ||
Per share exercise price, lower limit (in dollars per share) | $ 5,280 | |
Options outstanding (in shares) | shares | 39 | 39 |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 6 months | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 5,280 | $ 5,280 |
Options exercisable (in shares) | shares | 39 | 39 |
Options excercisable, weighted average remaining contractual life (Year) | 6 years 6 months | |
Per share exercise price, upper limit (in dollars per share) | $ 7,709 | |
Exercise Price Range 3 [Member] | ||
Per share exercise price, lower limit (in dollars per share) | $ 26,400 | |
Options outstanding (in shares) | shares | 37 | 37 |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 9 months 14 days | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 79,787.03 | $ 79,787.03 |
Options exercisable (in shares) | shares | 37 | 37 |
Options excercisable, weighted average remaining contractual life (Year) | 4 years 9 months 14 days | |
Per share exercise price, upper limit (in dollars per share) | $ 98,160 | |
Exercise Price Range 4 [Member] | ||
Per share exercise price, lower limit (in dollars per share) | $ 100,080 | |
Options outstanding (in shares) | shares | 28 | 28 |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 9 months 14 days | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 194,220 | $ 194,220 |
Options exercisable (in shares) | shares | 28 | 28 |
Options excercisable, weighted average remaining contractual life (Year) | 4 years 9 months 14 days | |
Per share exercise price, upper limit (in dollars per share) | $ 362,400 |
Note 9 - Gain on Sale of Inte_2
Note 9 - Gain on Sale of Intellectual Property (Details Textual) - USD ($) $ in Millions | Apr. 28, 2024 | Jul. 17, 2023 |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 0.8 | $ 0.4 |
Maximum [Member] | ||
Disposal Group, Including Discontinued Operation, Consideration | $ 9.5 | |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 7.6 |
Note109 - Subsequent Events (De
Note109 - Subsequent Events (Details Textual) - USD ($) | Jul. 31, 2024 | Jul. 24, 2024 |
Subsequent Event [Member] | Promissory Note to Director [Member] | ||
Payments to Acquire Loans Receivable | $ 100,000 | |
Loan Receivable, Interest Rate | 10% | |
USWM Loan Agreement [Member] | ||
Debt Instrument, Face Amount | $ 1,500,000 | |
USWM Loan Agreement [Member] | Subsequent Event [Member] | ||
Debt Instrument, Face Amount | 1,500,000 | |
Debt Instrument, Covenant, Qualifying Financing Threshold | 1,875,000 | |
Debt Instrument, Periodic Payment | $ 375,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 10% | |
Debt Instrument, Covenant, Qualifying Transaction Threshold | $ 1,000,000 |