Panbela Therapeutics jumps on deal to buy private drug developer
22/02/2022 14:29
** Drug developer Panbela Therapeutics Inc's shares PBLA.O
jump 5.6% to $2.28 in premarket trade
** To acquire private drug developer Cancer Prevention
Pharmaceuticals for combination of stock and future milestone
payments urn:newsml:reuters.com:*:nGNX2Chvpr
** Financial details of deal not disclosed
** PBLA says combined co will have drug pipeline addressing
an estimated market opportunity of ~$5 bln
** All three brokerages covering PBLA rate the stock "buy";
their median PT is $6
** Stock up ~25% YTD, up to last close
(Reporting by Leroy Leo)
((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))
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