Maxim lowered the firm’s price target on Palisade Bio (PALI) to $8 from $22.50 and keeps a Buy rating on the shares. The company reported Q3 results with a net loss of ($3.5M) and ended the period with $8M in cash on the balance sheet, which should provide runway into Q2 of 2025, the analyst tells investors in a research note. Maxim anticipates another financing in the near-term, though it remains positive on the stock given the company returning to the clinic, the promising preclinical data, and the market opportunity in ulcerative colitis, the firm added.
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Read More on PALI:
- Palisade Bio reports Q3 EPS ($2.32) vs. ($7.38) last year
- Palisade Bio expects cash to fund operations through 1Q25
- Palisade Bio announces first subject dosed in Phase 1 study of PALI-2108
- Palisade Bio announces data from two ex vivo studies of PALI-2108
- Palisade Bio files to sell common stock, warrants, no amount given