Palisade Bio (NASDAQ:PALI) stock is climbing higher on Tuesday after the clinical-stage biopharmaceutical company revealed additional data for its ulcerative colitis (UC) treatment.
The big news here is Palisade Bio completing its analysis of ex-vivo bioactivation of PALI-2108. That includes the successful conversion of PALI-2108 into its active PDE4 inhibitor form.
Palisade Bio notes that PALI-2108 was able to do this in stool samples of both healthy patients and those with UC. It did so at a mean rate of 90.1% with conversion “increasing over time.”
Palisade Chief Medical Officer Dr. Mitch Jones said the following about the results:
“The results from this study underscore our confidence in PALI-2108 as a targeted treatment for moderate-to-severe UC […] The successful bioactivation of prodrug PALI-2108 into its active PDE4 inhibitor form at consistently high conversion rates over a 24-hour period in stool samples highlights its promise as an innovative therapeutic approach for managing UC.”
PALI Stock Movement Today
The positive data from PALI-2108 has investors excited and with that comes heavy trading of PALI stock. This has more than 21 million shares changing hands as of this writing. That’s well above its daily average trading volume of about 197,000 shares.
PALI stock is up 57.3% as of Tuesday morning but is still down 24.4% since the start of the year.
There are more stock market stories worth diving into below!
We have all of the hottest stock market news traders need to know about on Tuesday! A few examples include what’s going on with shares of WiSA Technologies (NASDAQ:WISA), BuzzFeed (NASDAQ:BZFD) and Fisker (OTCMKTS:FSRN) stock today. All of that info is available at the following links!
More Tuesday Stock Market News
- Why Is WiSA Technologies (WISA) Stock Up 83% Today?
- BZFD Stock: BuzzFeed Is Prepping for a Reverse Stock Split
- Fisker Risk Forces Wall Street to Downgrade Magna (MGA) Stock
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
