Palisade Bio Reports Third Quarter 2022 Financial Results and Provides Business Update

About this update from Palisade Bio, Inc.

[{"type":"text","content":"Carlsbad, CA, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Palisade Bio, Inc., (Nasdaq: PALI) a clinical stage biopharmaceutical company advancing therapies for acute and chronic gastrointestinal (GI) complications (the “Company” or “Palisade”), reported its financial results for the quarter ended September 30, 2022. The Company also provided an update on the status of its clinical development programs for LB1148. Clinical Program Update for LB1148 Advancement of U.S. Phase 2 Adhesions Study is Company’s Priority The Company is conducting an ongoing randomized, double-blind, placebo-controlled, parallel-group, multicenter Phase 2 clinical trial of LB1148 in patients undergoing elective bowel resection surgery in the United States (U.S.). This trial is designed to evaluate whether patients treated with LB1148 experience fewer postoperative intra-abdominal adhesions. To date, the Company has enrolled 31 of an expected 70 patients in its U.S. Phase 2 adhesions study. The Company expects to announce interim data from this U.S. Phase 2 study within the first half of 2023 and believes it has sufficient capital to fund operations into the second half of 2023, at which time the Company expects it will announce topline data results for the completed U.S. Phase 2 study. Robert McRae, Senior Vice President, Operations and Strategic Development of Palisade, stated, “Adhesions are reported to occur in more than 90% of abdominal surgeries and pose a serious risk of post-surgical complications including bowel obstruction, infertility, and severe pain. We are excited about the potential of LB1148 to impact the millions of patients at risk to these serious complications, which represents a costly and significant unmet medical need and large global commercial opportunity.” Status of Palisade Bio’s Return of Bowel Function U.S. Phase 3 Study In May 2022, the Company’s co-development partner in China received clearance from the Center for Drug Evaluation of the National Medical Products Administration of the People’s Republic of China to proceed with their Phase 3 clinical trial to evaluate LB1148 for accelerated return of bowel function in adult patients undergoing gastrointestinal surgery. In June 2022, based on data generated by this co-development partner in its earlier Phase 2 study, the Company initiated a Phase 3 clinical trial in the U.S. evaluating L...

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