DoD tests AI models that make it easy to switch from vendors like Palantir
In a challenging market environment, PALI Pharmaceuticals’ stock has recorded a new 52-week low, dipping to $0.89. According to InvestingPro data, while the stock’s technical indicators suggest oversold conditions, the company maintains a strong liquidity position with a current ratio of 3.31 and more cash than debt on its balance sheet. This latest price level reflects a stark downturn for the company, which has seen its shares struggle significantly over the past year. The descent to this low watermark comes amidst broader industry pressures and investor concerns, contributing to a dramatic 1-year change with the stock value shrinking by -85.09%. Despite the current challenges, analyst price targets range from $8 to $45, and InvestingPro analysis suggests the stock may be undervalued at current levels. This substantial decline underscores the volatility and the hurdles the company faces, as it navigates through a period of uncertainty and seeks to regain its footing in the competitive pharmaceutical landscape. Unlock 13 additional key insights and detailed financial metrics with an InvestingPro subscription.
In other recent news, Palisade Bio, Inc. has announced the receipt of 1.39 million Canadian dollars in Scientific Research and Experimental Development tax credits from Canada. This funding is intended to reimburse prior pre-clinical costs for PALI-2108, a drug under joint development with Giiant Pharma. The company is currently conducting a Phase 1a/b clinical study of PALI-2108, focusing on its safety and tolerability in healthy volunteers and patients with ulcerative colitis. Preliminary data from the Single Ascending Dose stage of the study indicated that PALI-2108 was well-tolerated at all dose levels, with no serious adverse events reported. The study aims to assess the drug’s pharmacokinetics, showing promising delayed-release and extended-release characteristics. Palisade Bio plans to progress to the Multiple Ascending Dose cohorts to evaluate repeated dosing. The company expects to report topline data in the first half of 2025. These developments underscore the company’s ongoing efforts in developing targeted therapeutics for autoimmune, inflammatory, and fibrotic diseases.
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