Purple Biotech Ltd.

PURPLE BIOTECH LTD. is a pharmaceutical research and development company focused on developing therapeutic candidates. The company has incurred significant losses since its inception, primarily due to research and development activities, and had an accumulated deficit of $171 million as of December 31, 2025. PURPLE BIOTECH plans to fund future operations through commercialization and/or out-licensing of its therapeutic candidates and by raising additional capital through debt or equity financing. The company's research and development costs include basic scientific research, preclinical studies, CMC development, clinical studies, and medical research. Its research and development team possesses clinical and regulatory development expertise primarily in the United States and Israel, with scientific research and development capabilities based in Israel. PURPLE BIOTECH's activities are centered on its lead program, CAPTN-3, and its tri-specific platform, which includes leading therapeutic candidates IM1240, advancing toward the clinic, and IM1305, currently in preclinical development. Additionally, the company is developing two oncology therapeutic candidates, CM24 and NT219, both of which are in the clinical trial phase. A substantial portion of PURPLE BIOTECH's research and development, including preclinical and clinical studies, is conducted through subcontractors such as Contract Research Organizations (CROs) and third-party manufacturers. Research and development expenses can vary based on the scope and timing of high-expense activities like CMC activities and clinical trials. For instance, in 2023, the company initiated a phase 2 study of CM24 and completed patient enrollment in December 2023, alongside CMC activity to support these studies, which led to an increase in research and development expenses in 2023.