Palisade Bio, Inc. - PALI STOCK NEWS

Palisade Bio, Inc. (Nasdaq: PALI) announced a strategic review leading to initiatives aimed at streamlining operations and reducing expenses by over $1.5 million annually. This includes a 20% workforce reduction to extend the capital runway necessary for advancing its lead clinical program, LB1148. The company is currently enrolling patients in a pivotal Phase 3 study focused on postoperative bowel function, targeting completion in 18-24 months. The CEO believes these measures will enhance financial stability and shareholder value as they progress through clinical studies.

Palisade Bio (Nasdaq: PALI) announced a live moderated webcast on September 16, 2022, to discuss its pivotal Phase 3 study of LB1148, aimed at assessing the safety and efficacy for postoperative return of bowel function.

The study will enroll approximately 600 patients, focusing on recovery time after gastrointestinal surgeries. Previous Phase 2 data showed a 1.1-day improvement in bowel function recovery. This initiative reflects Palisade’s strategy to enhance gastrointestinal therapies and may set new standards for postoperative care.

Palisade Bio (Nasdaq: PALI) has announced the dosing of its first patient in a Phase 3 clinical study of LB1148, aimed at enhancing the return of bowel function in adults post-gastrointestinal surgery. This pivotal study will involve around 600 patients and mirrors a previous Phase 2 study that showed a significant 1.1-day improvement in bowel function recovery. LB1148, a novel oral formulation of a digestive enzyme inhibitor, is positioned to potentially set new standards in postoperative care by reducing complications such as abdominal adhesions.

Palisade Bio (Nasdaq: PALI) announced the completion of an underwritten public offering, generating approximately $13.8 million in gross proceeds. This offering included 49.36 million shares of common stock, 1,460 shares of Series B convertible preferred stock, and 55.2 million warrants at an exercise price of $0.25 each. The offering involved the full exercise of the underwriter’s over-allotment option. Ladengurg Thalmann & Co. acted as the sole book-running manager for this offering, which was registered with the SEC.

Palisade Bio (Nasdaq: PALI) reported its Q2 2022 results, highlighting the initiation of a Phase 3 trial for LB1148, aimed at enhancing bowel function recovery post-surgery. The company secured $12 million in funding through an underwriting agreement, extending its cash runway into 2023. Financially, Palisade recorded a net loss of $2.3 million in Q2, a significant decrease from $31.7 million in the previous year, while R&D expenses rose to $1.3 million, indicative of ongoing clinical efforts. The company anticipates increased R&D costs as it progresses with its clinical trials.

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.