Palisade Bio more than doubles as bowel disease therapy shows promise in lab studies

Palisade Bio

29/01/2024 15:43

(Updates)
    ** Shares of drug developer Palisade Bio  PALI.O  more than
double to four-month high of $1.49
    ** Co announces positive pre-clinical data for its
experimental therapy, PALI-2108, to treat ulcerative colitis, an
inflammatory bowel disease
    ** The oral experimental therapy is being developed to
target the phosphodiesterase-4B protein, which plays a role in
inflammation in patients with moderate-to-severely active
ulcerative colitis
    ** The drug showed significant reductions in symptoms of the
disease and a reduction in weight loss in specific dosage groups
in mice, "showcasing the potential for targeted efficacy" - PALI
    ** The therapy was safe and well-tolerated in the studies -
PALI
    ** Co expects to launch an early-stage study testing the
therapy in humans later this year
    ** Stock fell 76.8% in the last 12 months

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))