Palisade Bio Inc. (PALI) stock prices were up by 3.24% shortly after market trading commencing on August 20th, 2021. This brought the price per share up to USD$2.55 early on in the trading day.
PALI Stock’s Investment from YRMC
August 20th 2021 saw the late stage biopharma company announce a new private investment of roughly USD$5.2 million from the Yuma Regional Medical Center. The Arizona-based, non-profit hospital facilitates the provision of high-quality, patient-centered care. The funds are planned to be allocated towards the advancement of the clinical development of LB1148, the company’s lead oral liquid drug candidate. The treatment is being developed to accelerated the resumption of normal bowel function after surgery, as well as to reduce post-surgical adhesion.
Scope of LB1148
PALI stock reported nearly 7 million surgeries taking place in the United States each year where the patients could have benefitted from LB1148. There is still a significant unaddressed need for safe therapeutics to improve postoperative bowel function, as well as to reduce abdominal adhesions. Upon approval, the treatment is set to provide an easy-to-adopt solution. This solution will help surgical patients return to GI normalcy faster, while facilitating a reduction in time and expenditure spent in the hospital.
Details of PALI Stock’s Transaction
As per the agreement, YRMC purchased 1,509,896 unregistered common shares from PALI stock. The transaction was valued at USD$3.45 per share. YRMC also received a five-year warrant to purchase an additional 377,474 common shares, priced at USD$3.45 per common share. The company is obligated to register the common shares and the shares underling warrants within a time period of 60 days.
Proliferation of LB1148
The company is encouraged by its recent positive topline Phase 2 data which consolidate LB1146’s potential for patients, caregivers, and hospitals. The treatment is set to proliferate markets as a simple and effective way to accelerate GI recovery after surgery. LB1148 has consistently demonstrated a favorable safety profile, making it a potential candidate for becoming the standard of care for patients undergoing major surgery.
Future Outlook for PALI Stock
The company reported a strong quarter, consolidated by the confidence inspired by YRMC’s investment in PALI stock. The company is keen to leverage the additional resources and opportunities at its disposal. Shareholders hope this will translate into significant and sustained increases in shareholder value over the long term.
