Palisade Bio (PALI) Q3 2026 earnings summary

Executive summary

• PALI-2108 Phase 2b ASCENTRA-UC began dosing; the first patient was dosed Oct. 27, with topline induction results expected in Q4 2027.

• FDA cleared the ASCENTRA-CD IND in September; enrollment is targeted for Q1 2027, with primary efficacy results expected in Q1 2028.

• Cash and cash equivalents of $113.6M are expected to fund operations through the primary efficacy readouts for both trials.

Financial highlights

• Q3 revenue was $0; 9M revenue was $0.5M from a Newsoara development milestone, with no product sales.

• Q3 operating expenses were $15.7M vs. $2.9M YoY; R&D was $10.6M vs. $1.4M and G&A was $5.1M vs. $1.5M.

• Q3 net loss was $14.6M, or $0.07/share, vs. $2.9M, or $0.38/share; 9M net loss was $34.8M vs. $7.9M.

• 9M operating expenses were $38.6M vs. $8.1M; operating loss was $38.1M vs. $8.1M.

• Other income, net was $1.1M in Q3 and $3.4M for 9M, primarily from money-market investment dividends.

Outlook and guidance

• Cash and cash equivalents of $113.6M at Sep. 30, 2026, are expected to fund operations through ASCENTRA-UC results in Q4 2027 and ASCENTRA-CD results in Q1 2028.

• ASCENTRA-CD enrollment is targeted to begin in Q1 2027; primary efficacy results are expected in Q1 2028.

• Additional financing will be needed beyond the Phase 2 readouts to support continued operations, potential Phase 3 trials, and commercialization.