Palisade Bio Files Q2 2024 10-Q, Details Stock Activity

TL;DR

Palisade Bio's Q2 10-Q is out. Shows stock issuances, including a May offering. Check financials.

AI Summary

Palisade Bio, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its financial condition and results of operations, including details on common stock and warrant issuances. Notably, the filing references a May 2024 offering and the issuance of 228,158 shares of common stock.

Why It Matters

This filing provides investors with an update on Palisade Bio's financial health and operational activities during the second quarter of 2024, including recent stock transactions.

Risk Assessment

Risk Level: medium — As a biotechnology company, Palisade Bio is subject to inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 20240630 — Reporting Period End (Indicates the end date for the financial data presented in the 10-Q.)
• 2024-05-06 — May Offering Date (Specific date of a stock offering mentioned in the filing.)
• 228,158 — Common Stock Shares (Quantity of common stock issued as of June 30, 2024.)

Key Players & Entities

• PALISADE BIO, INC. (company) — Filer
• 20240630 (date) — Reporting period end date
• 0000950170-24-095432 (other) — Accession Number
• Seneca Biopharma, Inc. (company) — Former company name
• Neuralstem, Inc. (company) — Former company name
• May 2024 (date) — Offering date
• 228,158 (dollar_amount) — Number of common stock shares issued

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value PALI Nasdaq Capital Marke
• $0 — were 1,184,487 shares of common stock, $0 .01 par value, outstanding. Palisade

Filing Documents

• pali-20240630.htm (10-Q) — 1847KB
• pali-ex10_48.htm (EX-10.48) — 104KB
• pali-ex31_1.htm (EX-31.1) — 16KB
• pali-ex31_2.htm (EX-31.2) — 16KB
• pali-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-095432.txt ( ) — 6945KB
• pali-20240630.xsd (EX-101.SCH) — 1004KB
• pali-20240630_htm.xml (XML) — 1052KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II - OTHER INFORMATION 34 Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 53 Item 3. Defaults Upon Senior Securities 53 Item 4. Mine Safety Disclosure 53 Item 5. Other Information 53 Item 6. Exhibits 53

SIGNATURES

SIGNATURES 60 i PA RT I FINANCIAL I NFORMATION

UNAUDITED CO NDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED CO NDENSED CONSOLIDATED FINANCIAL STATEMENTS Palisade Bio, Inc. Condensed Consolidate d Bal ance Sheets (Unaudited) (in thousands, except share and per share amounts) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 11,353 $ 12,432 Prepaid expenses and other current assets 959 896 Total current assets 12,312 13,328 Restricted cash 26 26 Property and equipment, net 4 10 Operating lease right-of-use asset 142 198 Other noncurrent assets 387 490 Total assets $ 12,871 $ 14,052 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 514 $ 698 Accrued liabilities 1,555 831 Accrued compensation and benefits 288 778 Current portion of operating lease liability 130 121 Insurance financing debt 349 158 Total current liabilities 2,836 2,586 Warrant liability 2 2 Contingent consideration obligation 60 61 Operating lease liability, net of current portion 24 90 Total liabilities 2,922 2,739 Commitments and contingencies (Note 8) Stockholders' equity: Series A Convertible Preferred Stock, $ 0.01 par value, 7,000,000 shares authorized; 200,000 issued and outstanding at June 30, 2024 and December 31, 2023 2 2 Common stock, $ 0.01 par value; 280,000,000 shares authorized; 966,345 and 618,056 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 9 6 Additional paid-in capital 139,051 132,811 Accumulated deficit ( 129,113 ) ( 121,506 ) Total stockholders' equity 9,949 11,313 Total liabilities and stockholders' equity $ 12,871 $ 14,052 The accompanying notes are an integral part of these condensed consolidated financial statements. Palisade Bio, Inc. Condensed Consolidated Sta tements of Operations (Unaudited) (in thousands, except share and per share amounts) Three Months Ended June 30,

View Full Filing

View this 10-Q filing on SEC EDGAR