secwatch.observer — SEC 8-K summary
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Issuer:     PALISADE BIO, INC. (PALI)
CIK:        0001357459
Form:       8-K
Filed at:   2024-03-27T23:59:59+00:00
Accession:  0001493152-24-011527
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 3.01, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Palisade Bio FY2023 net loss $13.1M; Nasdaq audit committee shortfall; reverse split approved
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- Cash and equivalents $12.5M at Dec 31, 2023; sufficient to fund operations into Q1 2025.
- Net operating loss $13.1M for FY2023 vs $15.7M in FY2022; R&D expense $6.9M, G&A $6.2M.
- Nasdaq notice on Mar 22, 2024 for audit committee only 2 of 3 required independent directors; cure period to Mar 4, 2025 or next annual meeting.
- Shareholders approved reverse stock split (1:2 to 1:15) at Mar 25, 2024 special meeting; board may implement before Dec 31, 2024.
- On track to initiate Phase 1 study of PALI-2108 for ulcerative colitis by end of 2024; IND/CTA-enabling tox studies expected Q2 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1357459/000149315224011527/0001493152-24-011527-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1357459/000149315224011527/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-011527

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