PALI Planning Ph2 initiation with dose disclosure + Higher industry interest in PDE4

Research evidence excerpt

PALI Planning Ph2 initiation with dose disclosure + Higher industry interest in PDE4

Biotechnology - Immunology

Immunology - Market Overweight

PALISADE BIO, INC. (PALI) June 29, 2026

PALI Planning Ph2 initiation with dose disclosure + Higher Rating:

industry interest in PDE4 Outperform

Price:

$1.89

The Wolfe Byte Price Target:

Palisade moving forward Ph2 UC with data expected in H2 2027. Dose strategy $7

% Upside:suggests greater safety. Recent cAMPfield deal also a positive readthrough to 270.4%

PDE4

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News. Recall that Palisade's Ph1 was performed in Canada and received permission Company Information

to move the drug forward. Today, Palisade announced that IND clearance (which 52-Week Range $1 - $3

has a stricter requirement of a more robust toxicity package). Timeline includes Market Cap. (M) $328

Ph2 initiation in UC in H2 2026 (N=206). 12w induction primary on mMS plus an Shares Out. (MM) 173.6 Avg. Value Traded (MM) $5.20

incremental 36w, with induction readout in H2 2027. Disclosure of doses 15 mg & SI% of Float 19.7%

30 mg QD. Dividend Yield 0.0%

We caught up with the team for additional details. The timeline was projected by Price Performance

YTD LTMIBD-specialized CRO PSI, plus an enrollment specialist Iterative Health (experience 139% PALI (28)%

in most large IBD studies). 100+ sites globally. Targeting ~50% advanced therapy SPX 8% 23%

failures, no more than ~10% 3L+ priors on advanced. On the Crohn's side, co is closer

to finalizing a protocol (may be similar to Prometheus study) and IND subimssion in

H2. No timeline, but an interim look is possible. 2.5

Key Wolfe Considerations: 1.5

1 ●Dosing creates more safety cushion while maintaining exposure. Recall that

0.5 SAD was dosed up to 450 mg while MAD up to 50 mg BID.