Quarterly ResultMay 12, 2026, 04:08 PM
Palisade Bio Q1 Net Loss $(9.6)M; Cash $132.6M
AI Summary
Palisade Bio reported a net loss of $(9.6) million for the first quarter of 2026, a significant increase from $(2.2) million in the prior year, driven by higher research and development and general and administrative expenses. Despite the increased loss, the company maintains a strong cash position of $132.6 million, providing sufficient capital for over a year of operations, largely due to a $127.6 million equity offering in October 2025. The Phase 2b study for ALTO-100 (formerly NSI-189) in major depressive disorder did not meet its primary endpoint, while the PALI-2108 program continues to advance with funding from the Crohn's & Colitis Foundation.
Key Highlights
- Net loss for Q1 2026 was $(9.6) million, compared to $(2.2) million in Q1 2025.
- Cash and cash equivalents totaled $132.6 million as of March 31, 2026.
- Research and development expenses increased to $6.4 million from $0.95 million year-over-year.
- General and administrative expenses rose to $4.4 million from $1.4 million year-over-year.
- Net cash used in operating activities was $(3.9) million for the three months ended March 31, 2026.
- Basic and diluted net loss per common share was $(0.05) for Q1 2026.
- ALTO-100 Phase 2b study for major depressive disorder did not meet its primary endpoint.
- Issued 1.54 million common shares for $3.0 million and 191,717 shares to CCF.