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Tag: Purple

  • Purple Biotech (PPBT) Stock Gains Pre-Hour Momentum

    Purple Biotech (PPBT) Stock Gains Pre-Hour Momentum

    In pre-market trading, Purple Biotech Ltd. (NASDAQ: PPBT) had a notable stock increase this morning, going up 57.08% to $5.27. The spike comes after PPBT revealed positive Phase 2 clinical research findings for CM24, its top cancer medication. Patients with pancreatic ductal adenocarcinoma (PDAC) were screened for this humanized monoclonal antibody, which targets CEACAM1.

    Phase 2 Study: A Milestone in PDAC Treatment

    The randomized Phase 2 study revealed CM24’s ability to deliver consistent improvements across all evaluated efficacy endpoints. Particularly noteworthy were the enhanced outcomes in patients with specific biomarkers such as CEACAM1 and other serum indicators. These results demonstrate how CM24 may have a major effect on cancers that express CEACAM1.

    These findings are encouraging to clinicians and researchers, especially when it comes to late-stage metastatic PDAC, when there are few available treatments. Refining patient selection based on biomarker profiles may also improve treatment results, according to the data.

    The Role of CEACAM1 and NETs

    A key insight from the study is the role of CEACAM1 and neutrophil extracellular traps (NETs) in determining the efficacy of CM24. Tumors with moderate levels of CEACAM1 and NET-related markers like MPO were most responsive, encompassing 80% of the Nal-IRI cohort. This suggests that tumors with low reliance on these markers or excessively high levels may not benefit as significantly from the treatment.

    Purple Biotech plans to further explore these dynamics in a forthcoming Phase 2b study. The trial will compare three arms: CM24 with a PD1 inhibitor, CM24 monotherapy, and standard-of-care (SoC) chemotherapy. The study aims to evaluate the necessity of PD1 blockade alongside CM24 and to target patients with elevated CEACAM1 and MPO levels.

    Expanding Horizons in Oncology

    These findings position CM24 as a versatile therapeutic candidate for multiple cancer types expressing CEACAM1. Purple Biotech’s approach of concentrating on patient groups that are biomarker-enriched may greatly improve the effectiveness of CM24. PPBT continues to be at the forefront of cutting-edge cancer therapies as it moves on to the next stage of clinical testing.

  • Purple Innovation, Inc. (PRPL) Stock Undergoes Minor Volatility Following Adjusted Guidance

    Purple Innovation, Inc. (PRPL) Stock Undergoes Minor Volatility Following Adjusted Guidance

    Purple Innovation, Inc. (PRPL) stock prices were down by -1.32% shortly after market trading commenced on June 29th, 2021, bringing the price up to USD$27.58 early on in the trading day.

    Modified Financial Guidance

    The company recently modified its financial guidance for the upcoming quarters after experiencing technical problems after an accident and subsequent safety upgrades. Various parameters were lowered or withdrawn after PRPL had issues getting machinery back online. Revenues for the second quarter of 2021 were adjusted from USD$205 million to somewhere between USD$175 million and USD$185 million. Adjusted EBITDA guidance that was offered on May 17th, 2021 was fully withdrawn.

    Production Levels Slashed

    Production levels are expected to be significantly lower than expected for a ten-week period, causing shipment backlogs that will affect second and third-quarter revenue. Production is expected to return to full operation by the middle of July 2021. Full-year guidance has also been revoked as the company conducts a review of its production issues. Revised guidance is forecasted to be offered with second-quarter earnings reports.

    Product Portfolio Expansion

    June 15th, 2021 saw the company announce the expansion of its existing pillow product portfolio with the addition of the Purple Harmony Pillow and the Purple TwinCloud Pillow. The former will be available in additional sizes to fit every comfort level, while the latter features cooling, durable, and adjustable support improvements to improve the quality of sleep.

    The Purple Harmony Pillow

    The Purple Harmony Pillow has received overwhelmingly positive feedback from consumers and is now available in a new Low size, in addition to its existing Medium and Tall sizes. The pillow employs Grid Hex technology, which facilitates persistent airflow through more than 2,000 open air channels. This helps keep users cool through the night, while instantly adapting to the head and neck.

    The Purple TwinCloud

    The Purple TwinCloud serves as a down-like pillow that is moldable and has plush support. It has an adjustable unzip-and-flip design that allows for modifications of support levels for a more personalized resting experience. Fluffy, gel fibers that fill the pillow counter easily to the head and neck, enabling the pillow to adapt to any sleeping position.

    Future Outlook for PRPL

    Armed with the pending commercialization and proliferation of its new products in a market that is ripe for the taking, PRPL is poised to continue its trajectory of success. The company is keen to usher in further growth as it continues to push for increased market penetration. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.