Palisade Bio Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Palisade Bio (NASDAQ: PALI), a clinical-stage biopharmaceutical company focused on developing therapeutics for autoimmune, inflammatory, and fibrotic diseases, has announced an inducement grant under Nasdaq Listing Rule 5635(c)(4). The company has issued stock options to a new employee as part of its 2021 Inducement Plan.

The grant consists of options to purchase 2,600 shares of common stock, issued on January 3, 2025, with an exercise price matching the closing price on the grant date. The options will vest quarterly over a three-year period, subject to continued employment with the company.

Carlsbad, CA, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Palisade Bio, Inc.  (Nasdaq: PALI) (“Palisade”, “Palisade Bio”, or the “Company”), a clinical-stage biopharmaceutical company focused on developing and advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases, today announced that it had made an equity grant to a new employee under its 2021 Inducement Plan, as amended.

The Company approved the issuance of an option to purchase 2,600 shares of the Company’s common stock to a new employee, as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

The option was issued on January 3, 2025, and has an exercise price equivalent to the closing price of the Company’s common stock on the date of grant. The option vests in equal proportions on a quarterly basis over three years with vesting being contingent on continuing to provide services to the Company through each vesting date.

About Palisade Bio 

Palisade Bio is a clinical-stage biopharmaceutical company focused on developing and advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases. The Company believes that by using a targeted approach with its novel therapeutics it will transform the treatment landscape. For more information, please go to www.palisadebio.com.

Investor Relations Contact
JTC Team, LLC
Jenene Thomas
908-824-0775
PALI@jtcir.com

FAQ

How many shares were included in PALI's January 2025 inducement grant?

The inducement grant included options to purchase 2,600 shares of Palisade Bio's common stock.

What is the vesting schedule for PALI's January 2025 inducement grant?

The options vest in equal proportions on a quarterly basis over three years, contingent on continued employment with the company.

When was PALI's latest inducement grant issued?

The inducement grant was issued on January 3, 2025.

What is the exercise price for PALI's January 2025 stock options grant?

The exercise price is equivalent to the closing price of Palisade Bio's common stock on January 3, 2025, the date of grant.