Oppenheimer on Thursday initiated coverage of Palisade Bio Inc.
(NASDAQ:PALI), saying the stock offers investors an attractive way to gain exposure to the fast-growing inflammatory bowel disease market.
The company's lead candidate, PALI-2108, is a once-daily oral PDE4 inhibitor prodrug designed to activate in the ileum and colon, targeting inflammation at disease sites while allowing systemic distribution of the active drug.
PALI-2108 has reported positive results across Phase 1a and Phase 1b trials, including studies in ulcerative colitis and fibrostenotic Crohn's disease.
In June, the FDA cleared the company's Investigational New Drug (IND) application for PALI-2108, paving the way for the global Phase 2 ASCENTRA-UC trial in patients with moderately to severely active ulcerative colitis.
