In conjunction with this agreement, Palisade Bio executed a common stock purchase agreement on March 27, 2026, selling 1,536,885 shares of its common stock at a price of $1.952 per share, totaling $3 million. This transaction was conducted with an affiliate of Iterative Health and was exempt from registration under the Securities Act of 1933, relying on Section 4(a)(2) of the Act. The share price reflects the average closing price of the company's common stock on the Nasdaq Capital Market over the five trading days preceding the closing date.
The funds raised from this stock sale are intended to support the company's clinical development efforts, particularly the Phase 2 study of PALI-2108. This study is critical as it aims to evaluate the efficacy and safety of the treatment in a patient population that has limited options for effective management of their condition. The collaboration with Iterative Scopes is expected to enhance the efficiency of patient recruitment, thereby accelerating the timeline for the study.
Palisade Bio's strategic focus on advancing its clinical pipeline, particularly in the area of inflammatory bowel diseases, positions the company to potentially make significant contributions to treatment options available for patients with UC. The successful execution of this financing and partnership agreement reflects the company's commitment to its growth strategy and operational execution in the competitive biopharmaceutical landscape.
