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PALI Pharmaceuticals, Inc. stock has hit a 52-week low, with shares falling to $0.64, marking a significant downturn from its 52-week high of $9.65. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 3.24, indicating its ability to meet short-term obligations. This latest price level reflects a stark contrast to the stock’s performance over the year, as PALI has experienced a dramatic 1-year change with a decline of -88.79%. Investors are closely monitoring the company’s trajectory as it navigates through a challenging market environment, with the hope for a strategic turnaround to regain its lost value. Despite current challenges, analyst price targets range from $2 to $38, suggesting potential upside opportunities. InvestingPro subscribers have access to 12 additional key insights about PALI’s financial health and market position.
In other recent news, Palisade Bio, Inc. has completed the Single Ascending Dose stage of its Phase 1a/b study for PALI-2108, a drug candidate for treating ulcerative colitis. Preliminary data indicate that PALI-2108 was well-tolerated across various doses, with no serious adverse events reported. This study aims to evaluate the safety and pharmacokinetics of the drug, which has shown delayed-release characteristics crucial for targeting ulcerative colitis effectively. The company is progressing to the Multiple Ascending Dose cohorts, and topline data is anticipated in the first half of 2025.
Additionally, Palisade Bio has received 1.39 million Canadian dollars in tax credits from Canada to support pre-clinical costs associated with PALI-2108, developed in collaboration with Giiant Pharma, Inc. This funding is part of a co-development agreement and supports ongoing clinical trials. Palisade Bio will present data from its lead program, PALI-2108, at Digestive Disease Week 2025, highlighting its potential anti-fibrotic efficacy in ulcerative colitis treatment. Investors should be aware that the drug is still in early clinical development and faces risks and uncertainties, including the need for additional funding and regulatory approval.
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