Palisade Bio Q3 loss widens on higher R&D costs

Overview

• US biopharmaceutical firm reported a wider Q3 net loss as R&D expenses rose

• Company began dosing in global Phase 2b ASCENTRA-UC trial for ulcerative colitis

• FDA cleared Phase 2a trial for Crohn's disease, with enrollment targeted for Q1 2027

Outlook

• Company expects topline results from ASCENTRA-UC Phase 2b trial in Q4 2027

• Company targets ASCENTRA-CD Phase 2a enrollment start in Q1 2027, efficacy readout in Q1 2028

• Company expects cash to fund operations through Phase 2 trial readouts in late 2027 and early 2028

Result Drivers

• CLINICAL DEVELOPMENT COSTS - Higher R&D expenses driven by Phase 2 clinical trial activities, manufacturing, and preclinical research for PALI-2108

• OPERATING EXPANSION - Increased general and administrative costs due to expanded operations and higher employee-related expenses

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Palisade Bio Inc is $8.00, about 572.3% above its November 9 closing price of $1.19

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)