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Wednesday, May 25, 2022

Palisade Bio Inc (PALI) stock is down in pre-market. Here’s why

Palisade Bio Inc (PALI) remained bullish in the regular trading session after gaining 30.43% from the previously traded session. Before the closing of the regular trading session, the PALI stock was trading at $1.05. On the last check, the stock of PALI plummeted in the pre-market and lost 6.57% to $0.981 per share. The company received a letter of “Study May Proceed” from the FDA. Moreover, the firm released the fiscal performance for FY2021.


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Palisade Bio Inc is an organization working in the pharmaceuticals business. The firm is centered around creating treatments that assist patients with intense and ongoing gastrointestinal issues from post-operative stomach-related protein harm. PALI has a market capitalization of $14.25 million. The company has its headquarters in Carlsbad, California, USA.

PALI News

On 22 March 2022, the company declared about receiving a “Study May Proceed” letter from the FDA. The letter was with respect to a Phase 3 clinical preliminary to assess LB1148 to speed up the arrival of bowel in grown-up patients going through bowel/stomach medical procedures. The preliminary will survey the security and adequacy of LB1148. All patients signed up for the preliminary will go through a planned bowel medical procedure that will incorporate either laparotomy or laparoscopic methodologies. The CEO of PALI commented that LB1148 keeps on showing guarantee with a positive wellbeing and decency profile. He further added that they are hopeful that their Phase 3 clinical preliminary will reaffirm these discoveries.

Key Financials

Palisade Bio also published the fiscal performance for FY2021, on 18 March 2022. The key financials of the company are

  • PALI reported the total expense from operation to be $41.8 million in FY21 compared to $9.29 million in FY20. This marks an increase of 349.9%.
  • Moreover, the company had a total loss of $26.6 million in the fiscal year 2021 versus $10.3 million in the previous year. The total loss of the company expanded by 158.2%.
  • Besides, PALI reported a loss of $3.39 per stock in FY21 against the loss of $3.72 per stock in FY20.

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