Palisade Bio (NASDAQ:PALI) Stock Continues to Move Lower: Time to Buy?

Late-stage biopharmaceutical company focused on advancing therapies helping patients with acute and chronic gastrointestinal complications, Palisade Bio (NASDAQ:PALI) on July 29, 2021, announced entering into exclusive license with the Regents of the University of California.

This will facilitate expansion of the technology to detect enzymatic protease activity in human clinical samples.

In combination with 2020 license from University of California, the firm gets worldwide exclusive license for patent rights covering some engineered substrates as well as use in measuring degradative enzymes for disease conditions, including cancer.

Tom Hallam, Ph.D., CEO of Palisade Bio said that a number of chronic endocrine as well as inflammatory diseases are connected to proteolytic enzyme leak from GI tract and the company has a deep understanding of it. Hallam said that the expansion of drug products will provide a platform for drug discovery as well as highly efficient patient selection.

Palisade Bio and co-development partner Newsoaraalso announced positive topline Phase 2 clinical trial data, which LB1148 had a statistically significant (p=0.0008) effect in fastening return of bowel function in patients.

Tom Hallam, Ph.D., CEO of Palisade Bio, said that the results show strong efficacy in recovery of bowel function. Hallam said that LB1148 canmake it simpler towards surgical journey of patients and also reduce costs.

Benny Li, Newsoara’s Chief Executive Officer, said that the results phase 2 study brings it closer for launching first protease inhibitor for accelerating return to GI function. LB1148 has potential for transformative change in patients undergoing major surgery.