Published on 28 Oct 2021 on Benzinga via Yahoo Finance
Palisade Bio Stock Shoots Up On FDA Fast Track Tag For LB1148 For Reduction of Post-Operative...
The FDA has granted Fast Track Designation to Palisade Bio Inc's (NASDAQ: PALI) investigational drug LB1148, which has the potential to be the first oral treatment to reduce adhesions following abdominal or pelvic surgery.LB1148 was previously granted Fast Track Designation to treat postoperative GI dysfunction associated with pediatric cardiovascular surgery.Phase 2 gastrointestinal surgery trial that will evaluate LB1148 for reducing adhesions, is expected to read out data in 2021.LB1148 is an oral formulation of a broad-spectrum serine protease inhibitor designed to neutralize the activity of potent digestive proteases released from the gut during surgery.By inhibiting the activity of digestive proteases, LB1148 can potentially reduce damage to GI tissues, increase the time to return normal GI function, and shorten the duration of hospital stays.Price Action: PALI shares are trading 26.1% higher at $6.62 during the premarket session on the last check Thursday.
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