Purple Biotech Drops in Pre-Market as Cash Doubts Weigh
Purple Biotech Ltd’s American Depositary Shares ended the U.S. session at $2.81, down 16 cents. The Israeli cancer drug developer is drawing investor scrutiny over cash levels and early-stage pipeline news. Purple’s cash position is more in focus now than its drug pipeline. The company is still in development, and CAPTN-3, its main program, hasn’t moved past preclinical. So far, there are no human efficacy results for the program.