Why Is Gastrointestinal-Focused Palisade Bio Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Palisade Bio Inc (NASDAQ:PALI) shares are trading higher after the company announced a licensing agreement with Giiant Pharma Inc. The license provides Palisade with exclusive worldwide rights to develop, manufacture, and commercialize Giiant's proprietary targeted prodrug platform for the IBD market. The licensed technologies include Giiant's precision delivery technology platform and multiple product candidates. Palisade will pay a portion of the development costs until the first approval of an IND or CTA, after which it will assume all costs.
September 06, 2023 | 3:15 pm
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Palisade Bio's stock is trading higher due to a licensing agreement with Giiant Pharma. This agreement allows Palisade to develop, manufacture, and commercialize Giiant's proprietary targeted prodrug platform for the IBD market.
The licensing agreement with Giiant Pharma is a significant development for Palisade Bio. It provides the company with exclusive rights to a potentially lucrative market, which has led to increased investor confidence and a rise in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100