Palisade Bio, Inc. - PALI STOCK NEWS

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.

Palisade Bio (Nasdaq: PALI), a clinical-stage biopharmaceutical company, announced participation in a fireside chat by CEO Tom Hallam, Ph.D., at the Ladenburg Thalmann 2022 Healthcare Conference on September 29, 2022, at 11:30 AM ET in New York, NY. The chat will be followed by one-on-one meetings with investors. A live video webcast will also be available for 90 days on the Palisade Bio website. The company focuses on therapeutics for gastrointestinal complications, with its lead program, LB1148, in Phase 3 studies.

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.