CARLSBAD, Calif., May 10, 2022 — Palisade Bio (Nasdaq: PALI), a clinical-stage biopharmaceutical company advancing therapies for acute and chronic gastrointestinal complications, today announced that it had made equity grants to four new employees under its 2021 Inducement Plan.
On May 4, 2022, the Company’s Compensation Committee granted options to four new non-executive employees covering an aggregate of 140,000 shares of the Company’s common stock as an inducement for such employees to join the Company.
The options have an exercise price equal to the closing price of the Company’s common stock on the date of grant. The options granted to each employee vest in equal proportions each quarter for three years. In all cases, the options are contingent on each employee’s continued service with the Company at the applicable vesting date.
About Palisade Bio
Palisade Bio is a clinical stage biopharmaceutical company advancing therapies that aim to aid patients suffering with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. Palisade Bio’s lead asset, LB1148, advancing toward Phase 3, is a protease inhibitor with the potential to both reduce abdominal adhesions and help restore bowel function following surgery. Positive data from Phase 2 trials of LB1148 demonstrated safety and tolerability as well as a statistically significant improvement in the return of bowel function and a decrease in the length of stay in the intensive care unit and hospital compared to placebo. Palisade Bio believes that its investigational therapies have the potential to address the myriad health conditions and complications associated with chronic disruption to the gastrointestinal epithelial barrier. For more information, please go to www.palisadebio.com.
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Source: Palisade Bio