Palisade Bio shares are trading lower after the company announced its U.S. Phase 2 PROFILE study evaluating LB1148 for post-surgical abdominal adhesions did not achieve the primary efficacy endpoint.
Portfolio Pulse from Benzinga Newsdesk
Palisade Bio announced that its U.S. Phase 2 PROFILE study evaluating LB1148 for post-surgical abdominal adhesions did not achieve the primary efficacy endpoint, causing its shares to trade lower.
August 09, 2023 | 1:30 pm
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Palisade Bio's shares are trading lower after the company's Phase 2 study of LB1148 did not meet its primary efficacy endpoint.
The failure of a clinical trial is a significant negative event for a biotech company like Palisade Bio. The failure of the Phase 2 study of LB1148 means that the drug may not progress to further stages of development, which could have been a significant source of future revenue for the company. This news is likely to negatively impact investor sentiment and the company's stock price in the short term.
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