Palisade Bio Announces Inducement Awards Under Inducement Plan for Key New Hires
May 10 2022 - 5:00PM
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.
Palisade Bio ContactDawn
Hofmeisterir@palisadebio.com
Investor Relations ContactJTC
Team, LLCJenene Thomas 833-475-8247PALI@jtcir.com
Source: Palisade Bio
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