NEW YORK, Feb. 18, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Panbela Therapeutics Inc. ("Panbela" or the "Company") (NASDAQ: PBLA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Panbela and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 10, 2021, Panbela issued a press release announcing an update on the Company's current clinical trial for its proposed pancreatic cancer treatment SBP-101, disclosing that "Panbela's independent data safety monitoring board (DSMB) recommended SBP-101 be held for ongoing patients in order to obtain additional safety information but will continue with the standard drug regimen[.]" Panbela advised that "[s]ome patients in the trial were noted to have complaints of visual changes, although visual changes were not seen in the SBP-101 monotherapy study" and that the Company "continues to be in communication with the trial investigators regarding the recommendation . . . to hold the administration of SBP-101 pending further investigation of visual disturbance adverse events."
On this news, Panbela's stock price fell $2.18 per share, or 26.59%, to close at $6.02 per share on February 10, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP