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Palisade Bio, Inc., a clinical-stage biopharmaceutical company, reported a net loss of $16.8 million for FY 2025, ending December 31, 2025, compared to $14.4 million in FY 2024, driven by increased operating expenses of $18.1 million versus $14.9 million prior year. Research and development expenses rose to $10.2 million from $9.1 million, reflecting higher clinical trial costs for PALI-2108 Phase 1 study and employee-related expenses, partially offset by reduced preclinical joint development costs. General and administrative expenses increased to $7.9 million from $5.8 million due to higher stock-based compensation and professional fees. Balance sheet strengthened significantly with cash and cash equivalents at $133.4 million, up from prior periods, fueled by $134.4 million net cash from financing activities, including $128.2 million from October 2025 common stock and warrants offering. Net cash used in operations was $10.8 million. Total assets reached $134.3 million, stockholders' equity $129.4 million. Forward-looking, the company plans Phase 2 trials for PALI-2108 in UC and CD in 2026, supported by strong liquidity positioning it for clinical advancement without near-term funding needs.
Palisade Bio reported FY 2025 net loss of $16.8 million, widening 16% from $14.4 million in FY 2024, primarily due to operating expenses rising 22% to $18.1 million from $14.9 million. R&D expenses increased 12% to $10.2 million, driven by $4.0 million in clinical trial costs for PALI-2108 Phase 1 and higher employee expenses, offset by $5.4 million reduction in preclinical joint development. G&A expenses grew 36% to $7.9 million from elevated stock-based compensation ($1.4 million increase) and professional fees. Other income net $1.3 million supported partial offset. Balance sheet reflects robust liquidity with cash $133.4 million, total assets $134.3 million, equity $129.4 million.
No revenue recognized in FY 2025 or 2024 as a pre-revenue clinical-stage biopharma focused on PALI-2108 development. Potential future milestones from Newsoara agreement and Alto ATA noted but unrealized.
Not applicable due to absence of revenue. Operating loss $18.1 million reflects full expense absorption in development phase. Stock-based compensation $4.0 million key non-cash charge in R&D and G&A.
Net cash used in operations $10.8 million, adjusted for $6.0 million non-cash items and $0.7 million working capital changes. Financing provided $134.4 million, including $128.2 million from October offering and $7.6 million warrant exercises. Investing cash flow N/A. Ending cash $133.4 million plus $55K restricted; liabilities $5.0 million, low debt with $71K insurance financing.
Plans IND submissions for Phase 2 UC in Q2 2026 and CD in H2 2026 post Phase 1b FSCD data. Crohn's & Colitis Foundation $0.5M funding supports Phase 1b. Strong cash position funds operations into foreseeable future; risks include clinical trial delays, funding needs, regulatory hurdles for PALI-2108.
EPS
-$0.30
Net Income
-$16.8M
free cash flow
-$10.8M
Operating Income
-$18.1M