Palisade Bio Announces Inducement Awards Under Inducement Plan for Key New Hires, Including Nick McCoy, Vice President of Clinical Operations
Palisade Bio, Inc. (NASDAQ: PALI) announced the equity grants of options covering 150,000 shares to three new employees under its 2021 Inducement Plan. The grants were made as an inducement for these employees to join the company. Nick McCoy has been appointed as VP of Clinical Operations, bringing extensive experience in conducting clinical studies crucial to Palisade's operations. The options granted will vest over three years, contingent on the employees' continued service. Palisade Bio is advancing therapeutic solutions for gastrointestinal complications and is moving its lead asset, LB1148, towards Phase 3 studies.
- Equity grants of 150,000 shares enhance employee retention and attract talent.
- Appointment of Nick McCoy as VP of Clinical Operations adds significant experience to the team.
- Continued advancement of LB1148 towards Phase 3 studies indicates ongoing clinical progress.
- None.
CARLSBAD, Calif., Nov. 23, 2021 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (NASDAQ: PALI), a clinical stage biopharmaceutical company advancing oral therapies that help patients with acute and chronic gastrointestinal (GI) complications (the “Company”), today announced that it had made equity grants to three new employees under its 2021 Inducement Plan (the “Plan”).
“We are excited to add additional key members to our team to help us expand our clinical activities. Of particular note, Nick McCoy joins our leadership team as VP of Clinical Operations and brings deep experience in conducting successful clinical studies in the hospital and surgical setting that will be vital to our future operations,” said Tom Hallam, PhD, CEO of Palisade Bio. “Mr. McCoy will be a cornerstone of our growing clinical operations and regulatory affairs leadership team as LB1148 progresses towards pivotal studies.”
On November 18, 2021, Palisade’s Compensation Committee granted options, to three new non-executive employees covering an aggregate of 150,000 shares of the Company’s common stock as an inducement for such employees to join the Company.
The options granted to the employees vest in equal proportions each quarter for three years. In all cases, the options are contingent on each employee’s continued service with the Company at the applicable vesting date.
About Palisade Bio.
Palisade Bio is a clinical stage biopharmaceutical company advancing therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. Palisade Bio’s innovative lead asset, LB1148, advancing towards Phase 3 a protease inhibitor with the potential to both reduce abdominal adhesions and help restore bowel function following surgery. Positive data from Phase 2 trials of LB1148 demonstrated safety and tolerability as well as a statistically significant improvement in return to bowel function and decrease in length of stay in ICU and hospital compared to placebo. Palisade Bio believes that its investigational therapies have the potential to address the myriad health conditions and complications associated with chronic disruption of the gastrointestinal epithelial barrier. For more information, please go to www.palisadebio.com.
Palisade Bio Investor Relations Contact:
Dawn Hofmeister
ir@palisadebio.com
Palisade Bio Media Relations Contact:
CORE IR
Jules Abraham
julesa@coreir.com
917-885-7378
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