Palisade Bio, Inc., a leading biopharmaceutical company, recently held its annual meeting of stockholders to vote on crucial matters such as the election of directors and the ratification of the company's independent registered public accounting firm.
Shareholders elected three directors - J.D. Finley, Donald Williams, and Margery Fischbein - to serve until the 2025 annual meeting or until their successors are appointed. The votes for each director were as follows: 141,074 for Finley, 139,029 for Williams, and 142,588 for Fischbein. There were also votes withheld for each director, with 11,984 for Finley, 14,029 for Williams, and 10,470 for Fischbein. Additionally, there were 227,228 broker non-votes for each director.
Furthermore, shareholders ratified the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024. The decision was supported by 370,358 votes in favor, 7,697 against, and 2,231 withheld or abstained. There were no broker non-votes for this proposal.
The meeting achieved a quorum with approximately 40.61% of the outstanding shares present in person or by proxy. Palisade Bio, formerly known as Seneca Biopharma, Inc. and Neuralstem, Inc., is incorporated in Delaware and headquartered in Carlsbad, California.
Recent developments have shown Palisade Bio's progress in its collaboration with Strand Life Sciences, focusing on potential PDE4-related biomarkers for ulcerative colitis (UC) treatment. The company has obtained a Canadian patent for its UC treatment, PALI-2108, and plans to commence a Phase 1 clinical study by the end of 2024. Ladenburg Thalmann, a financial services firm, has reiterated a Buy rating for Palisade Bio, emphasizing the potential of PALI-2108 to enhance clinical remission rates.
Moreover, Palisade Bio has welcomed Margery Fischbein to its Board of Directors, capitalizing on her expertise in healthcare investment banking and biotechnology. The company has also secured approximately $4 million in a private placement agreement with an institutional investor, showcasing its commitment to advancements in the biopharmaceutical sector.
In conclusion, Palisade Bio's annual stockholders meeting highlights its dedication to driving innovation in the biopharmaceutical space, with strategic partnerships, key appointments, and promising advancements in its pipeline. Investors and stakeholders can look forward to the company's continued growth and potential impact on the healthcare industry.