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Palisade Bio, Inc. (NASDAQ:PALI), a biotechnology company currently trading at $1.86 with a market capitalization of approximately $180 million, announced Monday that its annual meeting of stockholders was held on Friday. The meeting comes as the company approaches its next earnings release, scheduled for November 11, 2025. According to a press release statement based on a recent SEC filing, shareholders voted on three proposals.
As of the record date of September 12, 2025, there were 9,119,152 shares of common stock outstanding and entitled to vote. A total of 3,585,700 shares, or approximately 39.32% of outstanding shares, were represented at the meeting, constituting a quorum.
Shareholders elected three directors—J.D. Finley, Donald Williams, and Emil Chuang—to serve until the 2026 annual meeting or until their successors are elected and qualified. The voting results for each director were as follows:
- J.D. Finley: 647,086 votes for, 89,445 votes withheld, 2,849,169 broker non-votes
- Donald Williams: 641,789 votes for, 94,742 votes withheld, 2,849,169 broker non-votes
- Emil Chuang: 659,895 votes for, 76,636 votes withheld, 2,849,169 broker non-votes
Shareholders also ratified the selection of Baker Tilly US, LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The vote totals were 3,348,348 in favor, 108,424 against, and 128,928 abstentions.
Additionally, shareholders approved an amendment to the company’s Amended and Restated Certificate of Incorporation authorizing the board of directors to implement a reverse stock split of common stock at a ratio between 1-for-5 and 1-for-50, at the board’s discretion, to be effected on or before December 31, 2025. The proposal received 2,353,265 votes for, 1,122,616 against, and 109,819 abstentions.
Palisade Bio’s common stock continues to trade on the Nasdaq Capital Market under the symbol PALI. This information is based on the company’s statement in a press release and details from its SEC filing.
In other recent news, Palisade Bio has successfully closed a public offering, raising approximately $138 million in gross proceeds. This move is expected to support the development of its inflammatory bowel disease (IBD) drug. The offering was priced at $0.70 per share, and the underwriters exercised their over-allotment option. Additionally, Palisade Bio has regained compliance with the Nasdaq minimum bid price requirement, a matter that had been pending since April. The company received confirmation from Nasdaq’s Listing Qualifications Department, marking a significant step for Palisade Bio. In another development, Palisade Bio has dosed the first patients in a Phase 1b clinical study of its drug candidate PALI-2108 for fibrostenotic Crohn’s disease. The study aims to evaluate the safety and tolerability of the drug over a 14-day period. Furthermore, Palisade Bio has been granted a Canadian patent for PALI-2108, ensuring composition-of-matter protection through May 2041.
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