Palisade Bio announces early exercise of warrants

Palisade Bio announced that holders of an additional 1.46 million common stock purchase warrants issued pursuant to the Company’s August 2022 public offering have exercised such Warrants for additional gross cash proceeds of $3.65 million, bringing aggregate gross proceeds from the early exercise of the Warrants to $4.9 million. "We continue to be encouraged by the ongoing shareholder support and are pleased to further strengthen our balance sheet with the recent warrant exercises. Based on management’s current expectations for its planned clinical studies, we believe we have sufficient cash to fund our operations and clinical programs into the second half of 2024," commented J.D. Finley, interim Chief Executive Officer of Palisade Bio. As a January 10, 2023, 92% of the Company’s Series 1 Warrants and 81% of the Company’s Series 2 Warrants have now been exercised.