Palisade Bio stock rallies on Strand Life Sciences partnership

full version at invezz

Palisade Bio Inc (NASDAQ: PALI) opened roughly 50% up on Tuesday after teaming up with Strand Life Sciences.

Here’s what it means for Palisade Bio stock

The strategic collaboration puts its patient datasets together with bioinformatics tools of the genomics software and services company.

$PALI is convinced the partnership will help advance “precision medicine for ulcerative colitis therapy”. The collaboration, as per Dr Mitch Jones – CMO of Palisade Bio will “provide valuable guidance and insight for our lead programme PALI-2108” as well.

Despite the sharp surge today, Palisade Bio stock is down roughly 45% versus its year-to-date high.

Last month, the biopharmaceutical company reported 25 cents a share of quarterly loss – narrower than Street estimates. It did not, however, report a revenue for its fiscal Q4 in March.

Here’s what Strand Life CEO said on Tuesday

Palisade Bio Inc is committed to developing novel therapeutics for autoimmune, inflammatory, and fibrotic disorders. Wall Street currently has a consensus “buy” rating on its stock.

Today’s announcement is the latest in a series of $PALI’s efforts to innovate and transform the treatment landscape for ulcerative colitis. Ramesh Hariharan – the chief executive of Strand Life Sciences said in a press release today:

We’re thrilled to collaborate with Palisade in this transformative endeavour … [which] holds immense promise in identifying predictive biomarkers and improving outcomes for UC patients.

The in silico technology company based out of Bangalore, India is not publicly listed like Palisade Bio shares.

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