Palisade Bio, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsPalisade Bio is a clinical-stage biopharmaceutical company developing once-daily oral PDE4 inhibitor prodrugs for inflammatory bowel disease, with no product revenue today.
What they do
Palisade Bio is developing PALI-2108, a once-daily oral phosphodiesterase-4 (PDE4) inhibitor prodrug designed for targeted delivery to the terminal ileum and colon. The lead candidate is being developed for inflammatory bowel disease, including ulcerative colitis (UC) and Crohn's disease (CD). A Phase 1 clinical trial in Canada enrolled healthy volunteers and patients, including five UC patients and five with fibrostenotic Crohn's disease (FSCD). The company is now preparing Phase 2 trials, ASCENTRA-UC and ASCENTRA-CD.
Revenue drivers
- Product revenue — No product revenue; reported revenue was $0 in 2022, 2024 and 2025, with $250,000 in 2023 and $500,000 in Q2 2026 (accounts receivable).
- Grant / research funding — The Crohn's & Colitis Foundation agreed on December 17, 2025 to provide up to a $0.5 million investment to support the Phase 1b research program in exchange for common stock.
- Equity financings — Primary source of cash; the October 2025 offering raised approximately $127.6 million net, and a July 2025 warrant inducement raised approximately $3.4 million net.
Recent performance
Second quarter 2026 revenue was $500,000, tied to accounts receivable, versus $0 in the prior three quarters. Full-year 2025 revenue was $0 and net loss was $16.8 million, with operating cash use of $10.8 million. As of June 30, 2026, total assets were $127.3 million, liabilities $5.6 million, and cash and equivalents $125.2 million. In Phase 1, 5 of 5 UC patients achieved clinical response and 2 of 5 achieved clinical remission by Modified Mayo Score. In FSCD, mean SES-CD fell about 47.5% (3.8 points), with 2 of 5 patients achieving endoscopic response and remission.
Strategy
Advance PALI-2108 into Phase 2 development for UC and CD following encouraging Phase 1 results. The company received FDA clearance of the IND for PALI-2108 and plans to start the Phase 2 ASCENTRA-UC trial in the second half of 2026. It also intends to submit an IND for the Phase 2 ASCENTRA-CD trial in the second half of 2026. The balance sheet is expected to support execution through key Phase 2 readouts. The Board was strengthened with the appointments of Robert Baltera and Jordan Zwick.
Risks
- No product revenue — The company has reported no product revenue in 2022, 2024 and 2025 and depends on financing to fund operations.
- Clinical and regulatory risk — PALI-2108 must successfully complete Phase 2 trials, with the ASCENTRA-UC primary efficacy readout expected in the second half of 2027 and the ASCENTRA-CD IND not yet submitted.
- Going-concern and capital need — Operating cash use was $10.8 million in 2025 and $12.2 million in 2024; continued losses may require additional equity raises and dilution.
- Concentration in a single candidate — The pipeline depends on PALI-2108, so any safety, tolerability or efficacy setback would affect the entire program.
Outlook
Management expects to commence the Phase 2 ASCENTRA-UC trial in the second half of 2026, with primary efficacy results in the second half of 2027. An IND submission for the Phase 2 ASCENTRA-CD trial is also expected in the second half of 2026. The company states its balance sheet is expected to support execution through key Phase 2 clinical readouts. Additional PALI-2108 data are to be presented at ACG 2026 and UEG Week 2026.