Purple Biotech Ltd. (PPBT): BCG Matrix [Dec-2025 Updated]

You need a clear, unsentimental look at Purple Biotech Ltd.'s current hand, so I've mapped their oncology pipeline using the BCG Matrix as of late 2025. Honestly, the picture shows clear division: you have genuine Stars in NT219 and CM24, showing late-stage promise in resistance markets, but you have zero Cash Cows since the company hasn't commercialized anything, reporting zero revenue as of September 30, 2025. The entire business unit currently sits in the 'Dog' quadrant, draining capital with a $1.4 million operating loss in Q3 2025 and a low market cap of approximately $7.5 million, all while the innovative CAPTN-3 platform remains a high-stakes Question Mark, needing a major capital raise before its $10.5 million cash position runs dry in the first half of 2027. Keep reading to see the precise strategic implications for each asset.

Background of Purple Biotech Ltd. (PPBT)

You're looking at Purple Biotech Ltd. (PPBT), a clinical-stage company based in Rehovot, Israel, that focuses on developing first-in-class therapies designed to help cancer patients overcome tumor immune evasion and drug resistance. The firm, which was founded back in 2010, is working within the Biotechnology industry sector, and as of late 2025, it remains focused on advancing its oncology pipeline through clinical milestones rather than generating product revenue; honestly, the trailing twelve-month revenue stands at $0.

The core of Purple Biotech Ltd.'s current value proposition rests on three main assets: CM24, NT219, and the proprietary CAPTN-3 tri-specific antibody platform. These programs represent distinct approaches to modulating the immune system to fight cancer. The company's strategy involves pushing these assets through critical development stages, often relying on biomarker-driven patient selection to maximize the chance of positive trial outcomes.

Let's look at CM24, which is your lead candidate, a monoclonal antibody blocking CEACAM1. You saw final Phase 2 data presented at the AACR Annual Meeting in April 2025, showing a 37.5% objective response rate in biomarker-enriched subgroups for pancreatic cancer patients, which is definitely a key data point. Because of this, Purple Biotech Ltd. planned to initiate a biomarker-driven Phase 2b study for CM24 in the second half of 2025.

For NT219, a small molecule targeting drug resistance pathways, the plan was to start a Phase 2 combination study in head and neck cancer during the first half of 2025. Meanwhile, the CAPTN-3 platform is showing rapid advancement; IM1240, the lead tri-specific antibody targeting 5T4, achieved a commercially viable manufacturing yield and is being pushed toward an Investigational New Drug (IND) submission and Phase 1 initiation scheduled for 2026. Furthermore, IM1305, targeting TROP2, was nominated as the second CAPTN-3 candidate during the third quarter of 2025.

Financially, you need to know the cash position as of September 30, 2025, was $10.5 million in cash and short-term deposits. This provides an anticipated cash runway extending into the first half of 2027, which is crucial context for their near-term development plans. For the third quarter of 2025, the operating loss was $1.4 million, and research and development expenses dropped to $0.6 million, marking a 56.4% year-over-year decrease largely due to lower costs associated with the CM24 Phase 2 study.

Purple Biotech Ltd. (PPBT) - BCG Matrix: Stars

The lead assets of Purple Biotech Ltd. (PPBT), NT219 and CM24, are positioned as Stars due to their first-in-class status in high-growth oncology segments, requiring significant investment to capture anticipated market share.

• - NT219: Phase 2 study in R/M SCCHN, a first-in-class dual inhibitor in a high-growth oncology resistance market.
• - CM24: Final Phase 2 data showed significant efficacy in a biomarker-enriched subgroup for pancreatic cancer.
• - Bristol Myers Squibb collaboration on CM24 provides external validation and resources for a potential blockbuster.
• - These are the lead assets, defintely positioned for high future market share if trials succeed.

The market context supports the high-growth classification; the global Oncology Market size was estimated to reach $338.4 Billion by the end of 2025, with global spending on cancer medicine projected to reach $409 billion by 2028. Furthermore, oncology therapies accounted for 30% of all novel approvals in 2024, keeping the area at the forefront of therapeutic innovation.

NT219, targeting IRS1/2 and STAT3 to overcome drug resistance, initiated its Phase 2 study in recurrent/metastatic squamous cell carcinoma of the head and neck (R/M SCCHN) in the first half of 2025. This study is structured with two single-arm cohorts, each starting with 10 subjects, followed by an expansion cohort of 19 additional subjects.

CM24, a CEACAM1 blocker, demonstrated compelling efficacy in its Phase 2 trial, showing up to a 90% reduction in mortality risk among patients with high tumor CEACAM1 and low PD-L1 CPS. The next step, a Phase 2b study utilizing these biomarkers for patient selection, is planned for the second half of 2025.

These programs consume cash to advance through late-stage trials. Purple Biotech Ltd. reported a cash position of $10.5 million as of September 30, 2025, anticipating a cash runway into the first half of 2027. This financial management reflects the high investment required for Stars; for instance, R&D expenses decreased year-over-year in Q1 2025 by 76.5% to $0.8 million, contributing to an operating loss reduction of 68.9% in that quarter, showing efforts to manage cash burn while advancing these key assets.

Purple Biotech Ltd. (PPBT) - BCG Matrix: Cash Cows

Purple Biotech Ltd. does not have any products that fit the Cash Cow quadrant of the Boston Consulting Group Matrix as of September 30, 2025.

The classification is based on the current operational and commercial status of Purple Biotech Ltd.

• - None: Purple Biotech Ltd. is a clinical-stage company with no commercialized products.
• - Zero revenue reported for the trailing 12 months as of September 30, 2025.
• - The company is not generating cash from operations; it is purely in the investment phase.

The financial reality reflects a company entirely focused on research and development, which consumes cash rather than generating it.

For the three months ended September 30, 2025, Purple Biotech Ltd. reported an Operating Loss of $1.4 million.

The Net Loss for the same three-month period was $1.3 million.

This cash burn is characteristic of Question Marks or early-stage Stars, not established Cash Cows.

The company's financial resources are dedicated to advancing its pipeline, which includes the CAPTN-3 platform candidates IM1240 and IM1305, and ongoing work on CM24 and NT219.

Key financial metrics as of September 30, 2025, illustrate the investment phase:

The focus is on achieving preclinical-to-clinical translation milestones, such as the planned Investigational New Drug (IND) submission and Phase 1 study initiation for IM1240 in 2026.

The company is actively managing expenses, as evidenced by the 56.4% year-over-year decrease in Research and Development Expenses for the third quarter of 2025, primarily due to reduced CM24 Phase 2 study costs.

The absence of a Cash Cow means that Purple Biotech Ltd. relies on its existing cash position and financing activities to fund its operations, rather than using internal cash generation to support other business units.

Purple Biotech Ltd. (PPBT) - BCG Matrix: Dogs

Dogs are units or products with a low market share and low growth rates. They frequently break even, neither earning nor consuming much cash. Dogs are generally considered cash traps because businesses have money tied up in them, even though they bring back almost nothing in return. These business units are prime candidates for divestiture.

The overall business unit categorized as Dogs for Purple Biotech Ltd. is characterized by sustained negative cash flow and no revenue generation from these specific assets. This segment requires avoidance and minimization due to the capital tied up without commensurate returns. Expensive turn-around plans usually do not help this category.

Operating Loss for Q3 2025 was $1.4 million, representing a continuous cash drain. This loss is part of the overall burn rate supporting the pipeline, but the specific Dog assets contribute little to offsetting this.

Low current market capitalization of approximately $7.51 million as of early December 2025, reflecting high risk perception. This low valuation suggests the market assigns minimal value to non-core or legacy assets that fall into this quadrant, as the primary value driver is seen in the clinical-stage assets.

The Dogs category specifically includes any legacy or non-core preclinical assets that are not the focus of the CAPTN-3 platform. The company's current focus is heavily weighted toward the CAPTN-3 platform, CM24, and NT219, which implies that other, older, or less prioritized preclinical candidates reside here. The company generated $0 in trailing twelve-month revenue, which is consistent with a portfolio heavily weighted toward preclinical or early-stage assets that have not yet reached commercialization or significant licensing milestones.

Here's a quick look at the financial standing as of the end of Q3 2025, which impacts the ability to sustain these Dog assets:

To be fair, the entire preclinical focus, including the promising CAPTN-3 platform (with candidates like IM1240 and IM1305), is technically in a low-revenue stage, but the strategic focus elevates them above the true Dog status. The true Dogs are those assets that are not receiving significant R&D investment or strategic communication.

The pipeline composition helps delineate what is not a Dog, suggesting the true Dogs are the remaining, unmentioned assets:

• CM24: Humanized mAb blocking CEACAM1, in Phase 2 clinical trial.
• NT219: Small molecule dual inhibitor (IRS1/2 and STAT3), in Phase 1/2 clinical trials.
• CAPTN-3 Platform: Preclinical tri-specific antibody platform (IM1240, IM1305).
• Legacy/Non-Core Preclinical Assets: Implied Dog category.

The company's focus on achieving a manufacturing milestone for IM1240 and initiating toxicology studies for a Phase 1 study in 2026 shows where capital is being directed, away from the Dog segment. The continued cost management discipline, with R&D expenses decreasing by 56.4% year-over-year in Q3 2025 to $0.6 million, is a direct action to minimize cash burn across all non-priority areas, including the Dogs. Finance: draft 13-week cash view by Friday.

Purple Biotech Ltd. (PPBT) - BCG Matrix: Question Marks

You're looking at the assets in the Purple Biotech Ltd. portfolio that fit the Question Mark quadrant-high growth potential markets, but currently holding a low market share because they are early in development. These are the cash consumers, the ones that require significant capital to move the needle, but they hold the key to future market leadership if they succeed.

The core of Purple Biotech Ltd.'s Question Marks centers on the CAPTN-3 platform, which is still in the preclinical-stage. This novel technology is designed to create conditionally activated tri-specific antibodies that engage both T cells and NK cells, aiming to overcome tumor immune evasion. While this represents a high-reward opportunity, its preclinical status inherently places it in the high-risk category, demanding substantial investment to reach clinical validation.

The immediate focus for capital deployment is on the lead candidates emerging from this platform. You need to know that the path forward is cash-intensive, and the timeline for the next major inflection point is aggressive.

• - CAPTN-3 Tri-Specific Antibody Platform: Preclinical-stage, novel technology.
• - IM1240: First tri-specific antibody from the platform, targeting 5T4.
• - IM1305: Second candidate, targeting TROP2, recently entered the development pipeline.

Here's the quick math on the near-term capital needs for these assets. Purple Biotech Ltd. plans to conduct non-GLP and GLP toxicology studies for IM1240, followed by an Investigational New Drug (IND) application submission and the initiation of a Phase 1 study, all targeted for 2026. This transition from preclinical work to human trials is where the cash burn accelerates significantly, and success here is what converts a Question Mark into a Star.

Financially, you must look closely at the burn rate versus the available capital. As of September 30, 2025, Purple Biotech Ltd. reported a cash position of $10.5 million in cash and cash equivalents and short-term deposits. This reserve provides an anticipated cash runway only into the first half of 2027. To be fair, the company did secure approximately $6 million in gross proceeds from a public offering in September 2025, with the potential for an additional $12 million if warrants are exercised, but this funding is meant to cover the milestones leading up to that 2027 runway estimate.

The entire pipeline, particularly advancing the CAPTN-3 assets past Phase 2, requires continuous, substantial capital raises, which is the core uncertainty you face as an investor. If the IND submission for IM1240 in 2026 is successful, the need for the next large financing round will become acute shortly thereafter to fund later-stage trials.

To visualize the current state of these high-potential, high-cash-consumption assets, consider this snapshot:

The strategy here is clear: invest heavily to gain market share by achieving clinical proof-of-concept, or face the risk of these assets becoming Dogs if development stalls due to lack of funding. The next 18 months, leading up to the expected cash runway exhaustion in mid-2027, will defintely determine which way these Question Marks pivot.