Palisade Bio Inc Stock Price, News & Analysis

Palisade Bio (Nasdaq: PALI) announced a registered direct offering and concurrent private placement with institutional investors for the purchase of 1,052,631 shares at $2.375 per share. The offering will close around January 4, 2022. Investors will receive unregistered pre-funded warrants and common warrants for future shares. Proceeds will be used for working capital and general corporate purposes. The company also stated that it will file a registration statement for the resale of the shares linked to these warrants.

Palisade Bio, Inc. (Nasdaq: PALI) has provided an update on its Phase 2 study evaluating LB1148 for reducing intra-abdominal adhesions after bowel resection. The company has enrolled 35 out of the planned 70 patients and has decided to cease further enrollment to analyze collected data. Topline results from the 35 patients are expected in the first half of 2023. Furthermore, a dose optimization study is in the works to enhance LB1148's risk profile and efficacy, with enrollment anticipated to start in early 2023.

Palisade Bio (Nasdaq: PALI) has announced that it has received approximately $1.25 million after 445,000 common stock purchase warrants were exercised by shareholders. This financial boost is aimed at extending the company's cash runway into early 2024, aligning with the anticipated topline results from the Phase 2 study of LB1148, which targets post-surgical adhesions. The company is focused on developing therapies that enhance intestinal barrier integrity, with LB1148 showing promise in reducing complications associated with gastrointestinal surgeries.

Palisade Bio, Inc. (Nasdaq: PALI) has announced it has regained compliance with Nasdaq Listing Rules as of December 1, 2022. The company is focused on developing therapeutics for gastrointestinal complications, leveraging over three decades of research on intestinal barrier biology. Its lead program, LB1148, aims to neutralize digestive enzymes and mitigate intestinal damage, showing promising results in clinical studies for reducing post-surgical complications. The company emphasizes the potential for its therapies to transform treatment standards for related diseases.

Palisade Bio (Nasdaq: PALI), a clinical-stage biopharmaceutical company, announced that the FDA has granted Fast Track designation for its drug LB1148. This designation aims to expedite the return of bowel function after gastrointestinal surgery. LB1148 acts as a broad-spectrum serine protease inhibitor, neutralizing digestive enzymes to potentially reduce abdominal adhesions. CEO JD Finley highlighted this as a key regulatory milestone, emphasizing the unmet need for safer therapeutic options.

Palisade Bio has appointed Herbert B. Slade, MD, FAAAAI as its new Chief Medical Officer. With over 25 years in the pharmaceutical industry, Dr. Slade previously served as a clinical advisor for the company, contributing to the development of LB1148, a treatment for gastrointestinal complications. His extensive experience includes regulatory negotiations with the FDA and EMA, as well as significant leadership roles in clinical research. This transition aims to advance LB1148's potential as a standard of care for post-surgical gastrointestinal issues.

Palisade Bio has released an animated video detailing the therapeutic potential of LB1148, aimed at reducing adhesions in gastrointestinal (GI) tissues and speeding recovery after surgeries. LB1148, a novel oral formulation of tranexamic acid, targets digestive proteases to mitigate GI complications. Currently in Phase 2 clinical trials, the product shows promise in improving post-surgical bowel function. The company emphasizes LB1148's role in addressing unmet medical needs due to chronic protease activity.

Palisade Bio (Nasdaq: PALI) announced a 1-for-50 reverse stock split effective November 15, 2022, at 4:01 PM ET. This move, approved by stockholders on October 4, aims to enhance the company's share price to comply with Nasdaq listing requirements. The split consolidates 50 shares into one, affecting all stockholders uniformly. The par value remains $0.01 per share, and no fractional shares will be issued. Palisade Bio is focused on developing GI therapies, with its lead program, LB1148, currently in a Phase 2 study.

Palisade Bio, Inc. (Nasdaq: PALI) reported its financial results for Q3 2022 and outlined updates on its clinical programs for LB1148. The company has paused enrollment in the Phase 3 study for bowel function recovery to standardize study protocols. Meanwhile, it prioritizes the U.S. Phase 2 adhesions study, with 31 of 70 patients enrolled, expecting interim data in H1 2023. As of September 30, 2022, cash reserves were $14.0 million, and the company incurred a net loss of $4.0 million, a decline from a net income of $8.1 million in 2021, amidst rising R&D costs.