aibioPalisade Bio adds Jordan Zwick to its board and raises authorized shares
Tickers PALI
The annual meeting on June 10, 2026 approved raising authorized common stock from 300,000,000 to 450,000,000 shares. Stockholders also approved two amended equity plans.
Key facts
- Company
- Palisade Bio, Inc. (NASDAQ: PALI)
- News type
- Company Updates
- Primary source
- Palisade Bio, Inc. 8-K (2026-06-11)
Palisade Bio, Inc. (Nasdaq: PALI) appointed Jordan Zwick to its board of directors on June 10, 2026, expanding the board from five to six directors. The same day, stockholders at the company's 2026 annual meeting approved an amendment to increase authorized common stock from 300,000,000 shares to 450,000,000 shares. The company filed the amendment with the Delaware Secretary of State on June 11, 2026, and it became effective on filing.
The board appointment
Mr. Zwick will serve until the company's 2027 annual meeting or until his successor is elected, or until his earlier death, resignation or removal. The board appointed him to its Audit Committee. The board determined that he is independent under Nasdaq listing standards and under SEC rules, and that he meets the independence requirements for the Audit Committee. The company has entered into an indemnification agreement with him in substantially the same form as its agreements with the other directors.
As a non-employee director, Mr. Zwick will receive cash and equity compensation under the company's non-employee director compensation policy, as amended. His initial grant is restricted stock units with a grant value of $566,000. Those units vest in three equal annual installments over three years.
The annual meeting
As of the April 15, 2026 record date, 167,424,202 shares of common stock were outstanding and entitled to vote. A total of 129,904,054 shares were present in person or by proxy, which the company said was approximately 77.59% of shares outstanding and constituted a quorum.
Stockholders elected four directors: J.D. Finley, Donald Williams, Emil Chuang and Robert F. Baltera, Jr. Williams drew the most opposition, with 78,962,735 votes for and 29,904,615 withheld.
Stockholders ratified Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, with 129,320,182 votes for, 34,669 against and 549,203 withheld or abstaining.
The stockholders approved the increase in authorized common stock from 300,000,000 to 450,000,000 shares, with 128,093,623 votes for, 871,548 against and 938,883 withheld or abstaining. The company said this raises total authorized capital stock from 307,000,000 to 457,000,000 shares.
Stockholders also approved the Amended and Restated Palisade Bio, Inc. 2021 Equity Incentive Plan, with 92,245,546 votes for, 14,658,772 against and 1,963,032 withheld or abstaining. They also approved the Amended and Restated 2021 Employee Stock Purchase Plan.
The company and its lead program
Palisade Bio is developing next-generation, once-daily, oral PDE4 inhibitor prodrugs designed for targeted delivery to the terminal ileum and colon. Its lead candidate, PALI-2108, is being developed for inflammatory bowel disease, including ulcerative colitis and Crohn's disease. The prodrug is inactive until bacterial enzymes in the lower intestine convert it into the active inhibitor. The company says this approach aims to reduce the tolerability problems that have limited systemic PDE4 inhibitors.
The company's Phase 1 study was a single-center, randomized, double-blinded, placebo-controlled trial focused on safety, tolerability and pharmacokinetics in healthy volunteers and UC patients. Health Canada issued a No Objection Letter for the study on October 9, 2024.
The company's 10-K says it is advancing PALI-2108 toward a Phase 2 study in UC designed to evaluate clinical remission response and pharmacodynamic biomarkers over 12 weeks, with an extension phase assessing maintenance of remission.
Financial position
The company's financial data shows a net loss of $16.8 million for 2025, compared with $14.4 million for 2024. Research and development expense was $16.0 million for 2024. Cash used in operations was $10.8 million in 2025 and $12.2 million in 2024. Year-end cash and cash equivalents were $9.8 million at December 31, 2024.
What comes next
With 167,424,202 shares outstanding at the record date and 450,000,000 now authorized, the company has room to issue many more. The 8-K does not say what the shares are for. Palisade reported a net loss of $16.8 million for 2025. The company's stated next step is the Phase 2 UC study described in its 10-K. The 8-K does not give a date for any further board action.