Palisade Bio, Inc. - PALI STOCK NEWS

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.

Palisade Bio announced an executive leadership transition on October 10, 2022, as Thomas Hallam, Ph.D., stepped down as CEO. The board appointed JD Finley, the current CFO, as the interim CEO. Finley has been CFO since 2017 and played a significant role in the company's merger with Seneca Biopharma. Finley expressed commitment to advancing the clinical program for LB1148, a treatment for GI complications. The company will refocus on internal reorganization, leading to the cancellation of its presentation at the ACS Clinical Congress 2022.

Palisade Bio (Nasdaq: PALI) announced its abstract acceptance for the American College of Surgeons Clinical Congress 2022, set for October 16-20 in San Diego, CA. The presentation, titled LB1148 An Enteral Protease Inhibitor Significantly Accelerated the Return of Bowel Function after Bowel Resection, will include significant Phase 2 clinical data. The data show that LB1148 notably speeds up recovery of gastrointestinal function post-bowel resection, with implications for ongoing Phase 3 studies. This reinforces Palisade's emphasis on addressing gastrointestinal complications.

Palisade Bio announced the grant of equity options to two new non-executive employees, totaling 93,000 shares, under its 2021 Inducement Plan. The options, set at the closing stock price on the grant date, vest quarterly over three years. The company focuses on developing therapies for gastrointestinal complications, with its lead drug candidate, LB1148, in ongoing Phase 3 and Phase 2 clinical trials. The potential of LB1148 to improve postoperative bowel function and reduce abdominal adhesions positions the company as a significant player in gastrointestinal therapeutics.