24/7 Market News Snapshot 12 December, 2024 – Palisade Bio, Inc. Common Stock (NASDAQ:PALI)

December 12, 2024

DENVER, Colo., 12 December, 2024 (247marketnews.com) – (NASDAQ:PALI) are discussed in this article.
Palisade Bio, Inc. (PALI), a clinical-stage biopharmaceutical company focused on innovative therapeutics for autoimmune, inflammatory, and fibrotic diseases, is witnessing notable momentum in its market presence. The company recently initiated trading today at $2.85, following a dramatic rise to $2.165, marking an impressive increase of 54.64% from the previous day’s closing price of $1.40. This surge is bolstered by an exceptional trading volume of 56.88 million shares, underscoring robust investor interest and potential market speculation impacting the biotech sector.

In tandem with this market activity, Palisade Bio has announced the pricing of an underwritten public offering aimed at raising approximately $5 million in gross proceeds, prior to deductions for commissions and expenses. This offering consists of 158,000 Class A Units, each including one share of common stock and a common warrant, alongside 3,120,688 Class B Units, which feature prefunded warrants and common warrants. Class A Units are set at a price of $1.525, while Class B Units are priced slightly lower at $1.5249. The warrants associated with this offering come with an exercise price of $1.40 per share and will be immediately exercisable, expiring in five years.

The expected closure of this offering on December 13, 2024, is contingent on customary closing conditions. Proceeds from the offering will primarily fund the Phase 1 clinical trial of PALI-2108, as well as support ongoing preclinical studies and research efforts. Additionally, the company has announced a repricing of approximately one million existing warrants to align with the new pricing structure. Palisade Bio continues to pursue its mission of improving treatment options for patients with autoimmune and related conditions through strategic investments in its development pipeline.

Related news for (PALI)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.