Palisade Bio soars on 'fast track' tag for bowel function drug

Palisade Bio

22/11/2022 14:27

** Shares of drug developer Palisade Bio Inc  PALI.O  soar
~32.6% premarket to $2.92 
    ** Co says it received U.S FDA's "fast track" tag for its
experimental drug LB1148
    ** PALI says drug neutralizes digestive enzymes to
potentially reduce intestinal damage and accelerate return of
bowel function following abdominal surgery
    ** A fast track designation facilitates development and
expedites review of therapies with the potential to treat a
serious condition where there is an unmet medical need
    ** Up to Monday's close, stock had fallen ~97% YTD
 (Reporting by Sriparna Roy)
 ((Sriparna.roy@thomsonreuters.com))