Purple Biotech Ltd ( PPBT ) – ADR shares are trading lower by 27.7% to $6.02 during Tuesday’s session after the company announced a $2.8 million offering of 472,688 ADS.

The stock is also pulling back after the company’s Phase 2 trial of CM24 combined with nivolumab and standard chemotherapy for metastatic pancreatic cancer showed significantly improved survival, response rates and biomarker reductions compared to standard care, with a favorable safety profile.

What Else: Purple Biotech ( PPBT ) entered a definitive agreement to sell 472,668 American Depositary Shares (ADSs) at $6.00 per ADS in a registered direct offering. The offering, led by H.C. Wainwright & Co., is expected to close on December 4, subject to customary conditions.

The company anticipates gross proceeds of approximately $2.8 million, which will support the development of its oncology therapies and general corporate needs. Purple Biotech ( PPBT ) says the company is meanwhile focused on innovative treatments addressing tumor immune evasion and drug resistance.

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Should I Sell My PPBT Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Purple Biotech ( PPBT ) have decreased by 60.75% in the past year. An investor who bought shares of Purple Biotech ( PPBT ) at the beginning of the year would take a loss of $7.01 per share if they sold it today. The stock has risen 182.83% over the past month, meaning an investor who bought shares on Nov. 1 would see a capital gain of $5.43.

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PPBT has a 52-week high of $23.20 and a 52-week low of $2.00.