REHOVOT, Israel, Oct. 20, 2025 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. (“Purple Biotech” or “the Company”) (NASDAQ/TASE: PPBT), a clinical-stage company developing first-in-class therapies that seek to overcome tumor immune evasion and drug resistance, today announced that on October 16, 2025, it received a letter from the Listings Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq ...

Core Viewpoint - Purple Biotech Ltd. is advancing its clinical-stage therapies, particularly NT219, which targets tumor immune evasion and drug resistance, and has received an intention to grant a European Patent for its combination therapies [1][2][3] Company Overview - Purple Biotech is a clinical-stage company focused on developing first-in-class therapies to combat tumor immune evasion and drug resistance, with a pipeline that includes NT219, CAPTN-3, and CM24 [4] - The company is headquartered in Rehovot, Israel, and is publicly traded on NASDAQ and TASE under the ticker PPBT [4] Patent and Intellectual Property - The European Patent Office intends to grant a patent for NT219 combinations with leading immunotherapies, which could provide broad protection until 2036 [2] - The patent covers combinations of NT219 with various immunotherapies and chemotherapies, aimed at enhancing treatment sensitivity for resistant tumors [2] Clinical Development - A Phase 2 study for NT219 in combination with immunotherapy is underway, specifically targeting squamous cell carcinoma of the head and neck [3][5] - The study evaluates NT219 with pembrolizumab and cetuximab, building on previous Phase 1 results that showed anti-tumor activity [3][5] - Preclinical data supports the synergistic effects of NT219 with immunotherapy, indicating a shift in the tumor microenvironment from immunosuppressive to immunoreactive [3] Therapeutic Mechanism - NT219 functions as a dual inhibitor targeting IRS1/2 and STAT3, both of which are critical in drug resistance and tumor immune evasion [3][5] - The company is also developing CAPTN-3, a platform of tri-specific antibodies designed to enhance immune response within the tumor microenvironment [4]

Core Viewpoint - Purple Biotech Ltd. has successfully closed a public offering of 5,999,999 American Depositary Shares (ADSs) at a price of $1.00 per share, with additional short-term warrants potentially raising gross proceeds of approximately $12 million if fully exercised [1][3]. Group 1: Offering Details - The public offering included 5,999,999 ADSs, each representing 200 ordinary shares, and short-term warrants to purchase up to 11,999,998 ADSs [1]. - The gross proceeds from the offering were approximately $6 million before deducting fees and expenses [3]. - The short-term warrants have an exercise price of $1.00 per ADS and are exercisable immediately, expiring twenty-four months from issuance [1][3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for the development of oncology therapeutic candidates and for general working capital and corporate purposes [3]. Group 3: Company Overview - Purple Biotech is a clinical-stage company focused on developing first-in-class therapies to overcome tumor immune evasion and drug resistance [6]. - The company's oncology pipeline includes CAPTN-3, CM24, and NT219, with CAPTN-3 being a preclinical platform of conditionally activated tri-specific antibodies [6]. - CM24 is a humanized monoclonal antibody targeting CEACAM1, and NT219 is a dual inhibitor targeting IRS1/2 and STAT3, with ongoing clinical studies demonstrating anti-tumor activity [6].

Company Overview - Purple Biotech Ltd. is a clinical-stage company focused on developing first-in-class therapies to overcome tumor immune evasion and drug resistance [6] - The company's oncology pipeline includes CAPTN-3, CM24, and NT219, with innovative mechanisms targeting various cancer indications [6][7] Public Offering Details - Purple Biotech announced a public offering of 5,999,999 American Depositary Shares (ADSs) at a price of $1.00 per share, with short-term warrants to purchase up to 11,999,998 ADSs [1][3] - The gross proceeds from the offering are expected to be approximately $6 million, with potential additional proceeds of about $12 million from the exercise of short-term warrants [3] Use of Proceeds - The net proceeds from the offering will be utilized for the development of oncology therapeutic candidates and for general working capital and corporate purposes [3] Regulatory Information - The offering is conducted under a registration statement on Form F-1, which was declared effective by the SEC on September 4, 2025 [4]

Company Overview - Purple Biotech Ltd. is a clinical-stage company focused on developing first-in-class therapies to overcome tumor immune evasion and drug resistance [3] - The company's oncology pipeline includes CAPTN-3, CM24, and NT219, which are designed to enhance immune response against tumors [3] Pipeline Details - CAPTN-3 is a preclinical platform of conditionally activated tri-specific antibodies that engage T cells and NK cells to induce a localized immune response within the tumor microenvironment [3] - CM24 is a humanized monoclonal antibody that blocks CEACAM1, a target that supports tumor immune evasion and survival [3] - NT219 is a dual inhibitor targeting IRS1/2 and STAT3, showing anti-tumor activity in combination with cetuximab for recurrent and/or metastatic squamous cell carcinoma of the head and neck [3] Recent Events - The CEO of Purple Biotech, Gil Efron, will participate in a fireside chat and 1x1 investor meetings at the H.C. Wainwright 27 Annual Global Investment Conference scheduled for September 8-10, 2025 [1][2]

Core Insights - Purple Biotech Ltd. presented new preclinical data on its CAPTN-3 tri-specific antibody platform at the EACR 2025, showcasing its potential to overcome tumor immune evasion and drug resistance [1][2] Group 1: CAPTN-3 Platform Overview - The CAPTN-3 platform enables the creation of tri-specific antibodies that activate both innate and adaptive immune systems, enhancing anti-tumor responses [2][6] - The lead product, IM1240, targets the 5T4 antigen and has shown robust in vivo anti-tumor activity, particularly in triple negative breast cancer models [7][10] - The design includes an anti-NKG2A arm that synergizes with the anti-CD3 arm, demonstrating significant cytotoxic effects against solid tumor cells [3][4][5] Group 2: Mechanism of Action - The CAPTN-3 platform features a conditional activation mechanism, where the CD3 arm is activated only in the tumor microenvironment, minimizing systemic effects [6][7] - The anti-NKG2A arm plays a crucial role in reinvigorating exhausted T cells, enhancing their ability to kill tumor cells [4][5] - The platform's design allows for a modular approach, enabling the development of various tribodies with different target combinations [7][10] Group 3: Clinical Implications - Preclinical data indicate that the CAPTN-3 platform can lead to sustained tumor regression in animal models, highlighting its therapeutic potential [5][7] - The platform's ability to engage both T cells and NK cells suggests a promising avenue for developing effective cancer therapies [6][10] - The company is advancing multiple candidates within its oncology pipeline, including CM24 and NT219, alongside CAPTN-3 [10]

Company Overview - Purple Biotech Ltd. is a clinical-stage company focused on developing first-in-class therapies to overcome tumor immune evasion and drug resistance [6] - The company's oncology pipeline includes NT219, CM24, and CAPTN-3, with NT219 being a dual inhibitor targeting IRS1/2 and STAT3 [6][7] Clinical Study Initiation - A Phase 2 clinical study has been initiated to evaluate NT219 in combination with either pembrolizumab or cetuximab for patients with recurrent and/or metastatic squamous cell carcinoma of the head and neck (R/M SCCHN) [1][4] - The study is led by Dr. Antonio Jimeno at the University of Colorado Anschutz Medical Campus and structured into two single-arm cohorts [3] Mechanism of Action - NT219 is designed to induce degradation of IRS1/2 and inhibit phosphorylation of STAT3, blocking their signaling pathways [2] - Previous Phase 1 studies showed safety and anti-tumor activity of NT219 in combination with cetuximab, with two partial responses and five patients with stable disease [4] Market Potential - The SCCHN treatment market is projected to reach $5 billion by 2030, highlighting the need for more effective treatments due to challenges like tumor heterogeneity and therapeutic resistance [5]

Core Insights - Purple Biotech Ltd. is a clinical-stage company focused on developing first-in-class therapies to combat tumor immune evasion and drug resistance [1][3] - The company will present its novel CAPTN-3 tri-specific antibody platform at the EACR 2025 Annual Congress in Lisbon, Portugal [1][2] Company Overview - Purple Biotech's oncology pipeline includes CM24, NT219, and CAPTN-3, with CM24 being a humanized monoclonal antibody targeting CEACAM1, which is involved in tumor immune evasion [3] - A Phase 2 study of CM24 in combination with nivolumab and chemotherapy for pancreatic ductal adenocarcinoma showed significant improvement across all efficacy endpoints [3] - NT219 is a dual inhibitor targeting IRS1/2 and STAT3, with a completed Phase 1 study demonstrating anti-tumor activity in combination with cetuximab for recurrent and/or metastatic squamous cell carcinoma of the head and neck [3] - CAPTN-3 is a preclinical platform utilizing conditionally activated tri-specific antibodies to engage T cells and NK cells, aiming to enhance localized immune responses within the tumor microenvironment [3] - The first tri-specific antibody, IM1240, targets the 5T4 antigen, which is associated with various solid tumors and poor clinical outcomes [3]

Core Insights - Purple Biotech Ltd. presented final Phase 2 data for CM24 at the AACR Annual Meeting 2025, showing significant efficacy in biomarker subgroup analyses, which supports the patient selection strategy for the upcoming Phase 2b study planned for the second half of 2025 [4][6] - The company is advancing its pipeline with NT219, which is on track for a Phase 2 study in head and neck cancer, and the CAPTN-3 tri-specific platform is moving towards first-in-human clinical trials [2][3] Clinical Developments - CM24 demonstrated a 78% reduction in risk of death and an 81% reduction in risk of progression or death in specific biomarker subgroups [6] - NT219 will be evaluated in a Phase 2 study in combination with pembrolizumab or cetuximab for recurrent/metastatic squamous cell carcinoma of the head and neck [5][7] - New data on NT219 presented at AACR highlighted its ability to overcome immune evasion mechanisms in head and neck cancer [8] Financial Performance - Research and Development Expenses decreased by 76.5% to $0.8 million for the three months ended March 31, 2025, compared to $3.4 million in the same period of 2024 [11] - General and Administrative Expenses also decreased to $0.6 million from $1 million year-over-year [12] - The net loss for the period was $0.5 million, significantly reduced from $3.8 million in the same period of 2024, reflecting a decrease in operating expenses [15] Cash Position - As of March 31, 2025, the company had cash and cash equivalents of $6.7 million, providing a cash runway into mid-2026 [15] - The company sold approximately 63 thousand ADSs at an average price of $3.5 per ADS, generating net proceeds of approximately $166 thousand [16] Intellectual Property - A new U.S. patent for NT219 enhances global IP protection for its use in combination with EGFR antibodies, positioning the company well for future commercialization [10]

Core Insights - Purple Biotech Ltd. has appointed Shai Lankry as Chief Financial Officer, bringing over 20 years of financial leadership in biotech and healthcare [1][2][3] Company Overview - Purple Biotech is a clinical-stage company focused on developing first-in-class therapies to overcome tumor immune evasion and drug resistance [4] - The company's oncology pipeline includes CM24, NT219, and CAPTN-3, targeting various cancer indications [4] Leadership Background - Shai Lankry has extensive experience in U.S. and European biotech markets, previously serving as CFO for Gamida Cell Ltd. and holding key financial roles at West Pharmaceutical Services and MacroCure Ltd. [3] - Lankry's experience includes leading a U.S. IPO and M&A transactions, which aligns with Purple Biotech's strategic goals [1][3] Pipeline Highlights - CM24 is a humanized monoclonal antibody that blocks CEACAM1, showing promise in a Phase 2 study for pancreatic ductal adenocarcinoma [4] - NT219 is a dual inhibitor that has demonstrated anti-tumor activity in combination with cetuximab for recurrent and/or metastatic squamous cell carcinoma of the head and neck [4] - CAPTN-3 is a preclinical platform of tri-specific antibodies designed to enhance immune response within the tumor microenvironment [4]