Palisade Bio Inc Stock Price, News & Analysis

Palisade Bio (Nasdaq: PALI) announced a public offering priced at approximately $12 million before deductions. The offering includes 42.16 million shares of common stock and 1,460 shares of Series B convertible preferred stock, with 48 million Series 1 and Series 2 Warrants at an exercise price of $0.25 per share. The transaction is expected to close around August 16, 2022, pending customary conditions. Ladenburg Thalmann & Co. is the book-running manager, with a 45-day option for the underwriter to purchase additional shares.

Palisade Bio has commenced its Phase 3 study of LB1148, focusing on restoring bowel function in patients post-gastrointestinal surgery. The trial aims to enroll around 600 patients, assessing the efficacy of LB1148 in accelerating gastrointestinal recovery. Previous Phase 2 studies indicated a 1.1-day improvement in bowel function. The company emphasizes rapid patient enrollment over the next 18-24 months, with LB1148 potentially setting a new standard of care for many abdominal surgery patients.

Palisade Bio (PALI) has announced the initiation of a Phase 3 study for LB1148, targeting accelerated recovery of gastrointestinal function in patients undergoing surgery. This study aims to enroll around 600 patients, utilizing a similar dosing protocol as the Phase 2 study that showed a 1.1-day improvement in bowel function recovery. If successful, LB1148 could significantly enhance post-operative care and reduce hospital stay durations. Completion of enrollment is targeted within 18-24 months, marking a critical step in the drug's development.

Palisade Bio (Nasdaq: PALI) has announced an in-person presentation at the 2022 BIO International Convention on June 13, 2022, at 1:45 PM PT. CEO Tom Hallam, Ph.D., will present the company's advancements in therapies for gastrointestinal complications. Additionally, management will engage in one-on-one meetings with industry executives and investors attending the conference. Palisade Bio is focused on addressing challenges arising from post-operative digestive enzyme damage with its lead asset LB1148, which is advancing towards Phase 3 trials.

Palisade Bio (Nasdaq: PALI) reported its Q1 2022 financial results, showing a net loss of $4.2 million, consistent with $4.0 million in Q1 2021. The company has increased R&D expenses by 39% to $1.0 million due to advancing clinical trials. Significant advances include FDA and NMPA clearance to initiate Phase 3 trials for LB1148, targeting postoperative bowel function recovery. Additionally, a $2.0 million direct offering extended their cash runway. LB1148 showed a 93% reduction in post-surgical adhesions during studies. Upcoming milestones include the start of U.S. Phase 3 trials in Q2 2022.

Palisade Bio (Nasdaq: PALI), a clinical-stage biopharmaceutical company, announced equity grants to four new non-executive employees under its 2021 Inducement Plan. On May 4, 2022, the Compensation Committee granted options covering a total of 140,000 shares of common stock, with an exercise price equal to the closing price on the grant date. The options vest quarterly over three years, contingent on continued employment. Palisade Bio focuses on therapies for gastrointestinal complications, with its lead asset, LB1148, progressing toward Phase 3 trials, showing promise in improving bowel function and reducing hospital stays.

Palisade Bio, Inc. (Nasdaq: PALI) announced a registered direct offering of 3,646,690 shares of common stock at $0.55 per share, raising capital for working and corporate purposes, including the development of its lead product candidate, LB1148. The offering, facilitated by Ladenburg Thalmann & Co. Inc., is expected to close around May 10, 2022. Investors will also receive unregistered warrants to purchase the same number of shares at $0.7105, expiring in five and a half years. The offering is conducted under an effective SEC registration statement.

Palisade Bio (PALI) has secured clearance from the NMPA in China to initiate a Phase 3 clinical trial for LB1148, aimed at expediting bowel function recovery in patients undergoing abdominal surgery. This follows recent FDA clearance for the same Phase 3 study in the U.S. LB1148, an oral serine protease inhibitor, showed statistically significant results in a previous Phase 2 trial. Newsoara Biopharma will fully fund the Phase 3 program in China and trigger milestone payments upon achieving specific goals.