Palisade Bio adjourns stockholder meeting due to lack of quorum

CARLSBAD, Calif. - Palisade Bio, Inc. (NASDAQ:PALI) announced Friday that its special meeting of stockholders was adjourned without conducting any business due to insufficient participation from shareholders.

The clinical-stage biopharmaceutical company, which develops therapeutics for autoimmune, inflammatory, and fibrotic diseases, reported that fewer than one-third of outstanding shares entitled to vote were represented at the meeting, failing to meet the required quorum.

At the time of adjournment, proxies had been submitted representing approximately 29.68% of the company’s outstanding shares entitled to vote, falling short of the necessary threshold.

The special meeting has been rescheduled for Friday, October 10, 2025, at 10:00 a.m. Pacific Time and will be held virtually. Palisade Bio stated it will continue soliciting votes on proposals outlined in its definitive proxy statement filed with the SEC on August 18, 2025.

The company has engaged Mediant Communications Inc. to assist in obtaining adequate voter participation to achieve quorum. Only stockholders of record as of July 28, 2025, are eligible to vote.

Proxies previously submitted will remain valid for the rescheduled meeting unless properly revoked. Shareholders who have not yet voted are encouraged to do so by October 9, 2025.

The information in this article is based on a press release statement from Palisade Bio.

In other recent news, Palisade Bio, Inc. announced positive clinical data for its drug PALI-2108, which is being developed for ulcerative colitis (UC). The Phase 1b study revealed that all five patients treated showed a clinical response, with two achieving clinical remission after seven days, and a notable 62.8% mean reduction in the modified Mayo score. Additionally, Palisade Bio received clearance from Health Canada to conduct a Phase 1b study for PALI-2108 in fibrostenotic Crohn’s disease, with patient dosing expected to begin in the latter half of 2025. Furthermore, the company has introduced a new Phantom Unit Plan, allowing for the grant of up to 10,000,000 cash-settled phantom units to employees and consultants. This plan, which ties the value of units to the company’s stock, will be in effect for ten years. In other developments, Palisade Bio adjourned its special meeting of stockholders due to a lack of quorum, with plans to reconvene later.

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