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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100