• AbbVie for serious gut barrier diseases.
• Takeda for protecting the gut from intestinal stress.

• LB1148: An oral liquid formulation of tranexamic acid designed to inhibit digestive enzyme activity and preserve gut integrity during intestinal stress.

Palisade Bio, Inc. (PALI) is a clinical-stage biopharmaceutical company. As such, its primary focus is on the discovery, development, and clinical testing of its therapeutic candidates, such as LB1148. The company does not currently have approved products on the market generating commercial sales, and therefore, it does not have major commercial customers (neither other companies nor individuals) in the traditional sense.

JD Finley, Chief Executive Officer, Chief Financial Officer and Director

Mr. Finley is an experienced financial executive who has played instrumental roles in raising nearly $1 billion in capital for companies. Prior to joining Palisade Bio (formerly Leading BioSciences) as the company's CFO, he served as Chief Executive Officer, President, and CFO for PointAcross, Inc., a software company providing business messaging and communications services. He also co-founded Proteus Capital Partners, Inc., a firm specializing in providing financing for a variety of businesses, and was a Principal and CFO at Phillips Capital, a broker/dealer firm specializing in private debt and equity capital raises. During his career, he was also the executive vice president and CFO of MetroGolf, Inc., where he successfully completed the company's initial public offering and helped grow the start-up. He led multiple financings and was key in the execution of the company's 2021 merger with Seneca Biopharma, Inc., which resulted in Palisade Bio's public listing on Nasdaq. He was appointed interim CEO in October 2022 and officially named CEO in June 2023.

Mitch Jones, MD, Ph.D., President & Chief Medical Officer

Dr. Jones is an accomplished physician and executive with extensive experience in the development of innovative therapeutics for inflammatory and fibrotic diseases. As Chief Medical Officer, he oversees all clinical development programs, regulatory strategies, and medical affairs. He has a distinguished track record of advancing innovative therapies from translational research through clinical development and achieving regulatory approvals. Dr. Jones previously held key leadership roles at Finch Therapeutics, where he was Vice President of Clinical Discovery and Development and contributed to the company's IPO, and at Biora Therapeutics (formerly Progenity), where he served as Vice President of Innovation and Clinical Translational Development.

Ryker Willie, SVP, Finance and Corporate Controller

Mr. Willie serves as the Senior Vice President of Finance and Corporate Controller for Palisade Bio.

Sharon Skare, PhD(c), VP, Global Head of Clinical Operations

Ms. Skare has served seven years as a department head within Clinical Operations and has been instrumental in multiple global inspection-readiness initiatives and post-approval filings for therapies in ulcerative colitis and diabetes. She most recently served as Vice President and Global Head of Clinical Operations at Abivax, where she oversaw global Phase 3 and Phase 2 programs in ulcerative colitis and Crohn's disease.

James Izanec, MD, AGAF, VP, Head of Clinical Development

Dr. Izanec is a physician-scientist with over two decades of clinical and drug development leadership experience spanning immunology, neuroscience, and gastroenterology. Prior to joining Palisade Bio, Dr. Izanec served as Senior Medical Director and Clinical Development Lead at Bristol Myers Squibb, where he led global Phase 2/3 development programs across autoimmune and neurological diseases. His responsibilities at Bristol Myers Squibb included oversight of a 1,200-patient Phase 3 Crohn's program and leadership of pediatric development programs in Crohn's disease, ulcerative colitis, and multiple sclerosis.

The key risks for Palisade Bio (PALI), a clinical-stage biopharmaceutical company, are primarily centered around the inherent challenges of drug development, reliance on its lead product candidate, and its financial position.

1. Clinical Development and Regulatory Approval Risk: As a clinical-stage company, Palisade Bio's success hinges on the successful clinical development, regulatory approval, and eventual commercialization of its therapeutic compounds, particularly its lead asset, PALI-2108. The company currently has no approved products for sale, and there is no guarantee it will obtain regulatory approval for any of its product candidates. The substantial risks in drug development mean that Palisade Bio may never successfully develop any product candidate. This risk is underscored by the prior failure of LB1148, an earlier lead candidate, to meet its primary endpoint in a Phase 2 trial for intra-abdominal adhesions, leading to the discontinuation of its development for that indication.
2. Product Concentration Risk: Palisade Bio is heavily dependent on the success of its current lead product candidate, PALI-2108. The company's business relies significantly on the successful clinical development, regulatory approval, and commercialization of this single therapeutic compound. Should PALI-2108 fail in clinical trials or face challenges in securing regulatory approval, it would have a severe adverse impact on the company's future prospects, given its early stage of clinical development.
3. Financial Vulnerability and Need for Additional Financing: Palisade Bio has a very limited operating history and has not generated any revenue from product sales. The company incurs significant research and development costs, leading to ongoing net losses and negative cash flow from operations. While Palisade Bio completed a public offering in October 2025, raising approximately $138 million, which extended its financial runway, the company consistently relies on equity to fund its operations and clinical milestones. This continuous need to raise significant additional funds to support its operations and the ongoing development of PALI-2108 presents financial vulnerabilities and the risk of future share dilution for existing shareholders.

Palisade Bio's lead therapeutic candidate, LB1148, targets serious diseases associated with the breakdown of the mucosal barrier protecting the gastrointestinal tract. It is an oral liquid formulation of the digestive enzyme inhibitor tranexamic acid, intended to inhibit digestive enzyme activity and preserve gut integrity during intestinal stress caused by reduced blood flow to the intestine, infections, and surgery. LB1148 is being developed to accelerate the return of postoperative bowel function and prevent post-surgical abdominal adhesions. The addressable markets for LB1148, globally, can be identified within several key therapeutic areas:

• Global Ischemia Reperfusion Injury (IRI) Therapeutics Market: This market, which includes treatments for intestine injury, was valued at approximately USD 2.05 billion in 2025. It is projected to grow to around USD 2.94 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 5.3%. Another estimate places the global IRI therapeutics market at USD 2.31 billion in 2025, anticipating growth to USD 3.47 billion by 2032, at a CAGR of 6%.

• Global Enzyme Inhibitor Market: LB1148 is a broad-spectrum serine protease inhibitor. The global enzyme inhibitor market size was valued at USD 27.02 billion in 2024 and is projected to increase to approximately USD 45.72 billion by 2034, exhibiting a CAGR of 5.40% during this period. The protease inhibitors segment within this market is expanding at a significant CAGR.

• Global Gastrointestinal (GI) Therapeutics Market: This broader market encompasses treatments for various GI conditions. Estimates for the global gastrointestinal therapeutics market vary, with one report valuing it at USD 41.94 billion in 2025, growing to an estimated USD 53.96 billion by 2031, at a CAGR of 4.29%. Another projection indicates a market size of USD 80.60 billion in 2025, expected to reach USD 140.98 billion by 2034, with a CAGR of 5.09%. North America is noted as a significant region within this market.

For Palisade Bio (PALI), a clinical-stage biopharmaceutical company, expected drivers of future revenue growth over the next 2-3 years are primarily tied to the advancement and potential commercialization of its pipeline assets, particularly its lead candidate, and strategic collaborations.

1. Successful Clinical Development and Regulatory Approval of PALI-2108: The primary driver for future revenue growth is the successful progression of PALI-2108, an oral phosphodiesterase 4 (PDE4) inhibitor prodrug, through clinical trials for inflammatory bowel diseases (IBD) such as ulcerative colitis and fibrostenotic Crohn's disease. Positive outcomes from these trials, including the recently reported positive results from the Phase 1b trial for ulcerative colitis, and subsequent regulatory approvals, would be critical.
2. Commercialization and Market Penetration of PALI-2108: Following regulatory approval, the successful launch and market penetration of PALI-2108 in the substantial inflammatory bowel disease market would directly generate product sales. While analysts forecast negligible revenue in the immediate future, significant growth is anticipated upon commercialization.
3. Strategic Partnerships and Licensing Agreements: Palisade Bio actively seeks and engages in strategic partnerships and licensing agreements. Collaborations, such as existing agreements with Giiant Pharma, Inc. and Newsoara Biopharma Co., Ltd., for the development, manufacturing, and commercialization of its compounds, can provide upfront payments, milestone payments, and future royalties, contributing to revenue growth.
4. Advancement and Diversification of the Pipeline: The company's strategy includes leveraging its expertise to develop a growing pipeline of product candidates for autoimmune, inflammatory, and fibrotic diseases. Successful progression of these additional therapeutic candidates from preclinical development into clinical stages, and potential future commercialization or out-licensing, would establish new revenue streams beyond PALI-2108.

Share Issuance

• Palisade Bio closed an underwritten public offering in October 2025, raising approximately $138 million in gross proceeds, including the full exercise of the underwriter's over-allotment option. This offering involved 197,154,844 shares of common stock (or common stock equivalents) priced at $0.70 per share.
• In December 2025, stockholders approved an increase in the number of authorized shares of common stock from 280,000,000 to 300,000,000. This also included the approval for the issuance of up to 8,637,810 shares underlying warrants issued in July 2025.
• A reverse stock split was effected on April 8, 2024, at a ratio of 1:15.

Inbound Investments

• In January 2026, Palisade Bio received a strategic equity investment of up to $500,000 from the Crohn's & Colitis Foundation through its IBD Ventures program to support the clinical development of PALI-2108.
• The $138 million public offering in October 2025 was led by B Group Capital and Columbia Threadneedle Investments, with significant participation from other investment firms including Adage Capital Partners LP, Perceptive Advisors, and RA Capital Management.
• As of December 31, 2025, investment entities affiliated with Point72 Asset Management, L.P. reported a 7.0% beneficial ownership of Palisade Bio common stock, and RA Capital Management reported a 9.99% beneficial ownership.

Capital Expenditures

• Capital expenditures for Palisade Bio have been reported as not applicable ("n/a") in recent financial summaries.