Purple Biotech Ltd. American Depositary Shares (PPBT)

Purple Biotech closed a public offering raising $6 million upfront, with potential additional proceeds of $12 million through short-term warrant exercises. The company plans to use funds for oncology therapeutic candidate development and working capital.

Purple Biotech Ltd. Sponsored ADR (PPBT) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

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