Palisade Bio Provides Corporate Update and Reiterates Guidance
2024年2月13日 - 10:35PM
Palisade Bio, Inc. (Nasdaq: PALI) (“Palisade” or the
“Company”), a biopharmaceutical company focused on developing novel
therapeutics for serious chronic gastrointestinal (GI) diseases,
today provided a corporate update and reiterated upcoming
milestones.
Recent Highlights
- The formation of the Company’s
Clinical Advisory Board and the appointments of preeminent Key
Opinion Leaders, Bruce Sands, MD, MS and Floria Rieder, MD;
- The exercise of outstanding common
stock warrants resulting in gross proceeds of $2.5 million;
- Presentation of positive
preclinical data of lead asset, PALI-2108, at the 2024 Crohn’s
& Colitis Congress; and
- Receipt of the second milestone
payment to our joint development partner, Giiant Pharma, Inc., from
the US Crohn’s and Colitis Foundation, through its Inflammatory
Bowel Disease (IBD) Ventures program.
“We continue to make significant development
progress with PALI-2108, our lead program. The program is providing
us with a growing body of data that we find encouraging, including
support for a precision medicine approach,” commented J.D. Finley,
Chief Executive Officer of Palisade. “On the corporate front, we
recently completed a strategic realignment of our Board of
Directors by reducing its size from 8 to 4 which better positions
us with companies in our peer group. Although smaller, we believe
the reconstituted board better matches our stage of development
while retaining ethnic and gender diversity. We are extremely
grateful to each resigning Director for their contributions to
Palisade over the years.”
Corporate Update
As part of the Company’s ongoing efforts to
streamline its operations and align its leadership with the
Company’s current business initiatives, Directors Stephanie Diaz,
Cristina Csimma, PharmD, MHP, Robert Trenschel, DO and James Neal,
Chairman of the Board, resigned from the Company’s Board. Donald
Williams has been appointed as the Company’s Chairman of the
Board.
PALI-2108 Development
Program
The Company continues to advance its lead
program, PALI-2108, for the treatment of moderate-to-severe
ulcerative colitis (UC) toward a Phase 1 clinical study. PALI-2108
is an orally administered, locally acting colon-specific
phosphodiesterase-4B (PDE4B) inhibitor prodrug in development for
patients affected by UC.
Upcoming Milestones
- Ongoing IND/CTA-enabling tox
studies;
- Complete nonclinical
IND/CTA-enabling activities by the end of the third quarter of
2024;
- Submit initial IND/CTA prior to the
end of 2024; and
- Initiate Phase 1a/b before the end
of 2024.
About Palisade Bio
Palisade Bio is a biopharmaceutical company
focused on developing novel therapeutics for serious chronic
gastrointestinal 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.
Forward Looking Statements
This communication contains “forward-looking”
statements for purposes of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements regarding the Company’s intentions,
beliefs, projections, outlook, analyses or current expectations
concerning, among other things: the extent of our cash runway; our
ability to successfully develop our licensed technologies;
estimates about the size and growth potential of the markets for
our product candidates, and our ability to serve those markets,
including any potential revenue generated; future regulatory,
judicial, and legislative changes or developments in the United
States (U.S.) and foreign countries and the impact of these
changes; our ability to maintain the Nasdaq listing of our
securities; our ability to build a commercial infrastructure in the
U.S. and other markets; our ability to compete effectively in a
competitive industry; our ability to identify and qualify
manufacturers to provide API and manufacture drug product; our
ability to enter into commercial supply agreements; the success of
competing technologies that are or may become available; our
ability to attract and retain key scientific or management
personnel; the accuracy of our estimates regarding expenses, future
revenues, capital requirements and needs for additional financing;
our ability to obtain funding for our operations; our ability to
attract collaborators and strategic partnerships; and the impact of
the COVID-19 pandemic or any global event on our business, and
operations, and supply. Any statements contained in this
communication that are not statements of historical fact may be
deemed to be forward-looking statements. These forward-looking
statements are based upon the Company’s current expectations.
Forward-looking statements involve risks and uncertainties. The
Company’s actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which
include, without limitation, the Company’s ability to advance its
nonclinical and clinical programs, the uncertain and time-consuming
regulatory approval process; and the Company’s ability to secure
additional financing to fund future operations and development of
its product candidates. Additional risks and uncertainties can be
found in the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2022, filed with the Securities and
Exchange Commission (“SEC”) on March 22, 2023, as well as the
Company’s Quarterly Report on Form 10-Q, for the three and nine
month periods ended September 30, 2023, filed with the SEC on
November 9, 2023. These forward-looking statements speak only as of
the date hereof and the Company expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company’s expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based.
Investor Relations Contact
JTC Team, LLCJenene Thomas 833-475-8247PALI@jtcir.com
Source: Palisade Bio
Palisade Bio (NASDAQ:PALI)
過去 株価チャート
から 4 2024 まで 5 2024
Palisade Bio (NASDAQ:PALI)
過去 株価チャート
から 5 2023 まで 5 2024