$PALI

PALISADE BIO, INC.

CIK:0001357459|SEC Filings

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Net loss	$ (20,174)	$ (5,014)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	0	2
Non-cash operating lease expense	0	62
Recurring fair value measurements of liabilities	(7)	(9)
Write-off of deferred equity issuance costs	0	75
Stock-based compensation and related charges	9,082	138
Changes in operating assets and liabilities:
Accounts receivable	(500)	0
Prepaid and other current assets and other noncurrent assets	(915)	(18)
Accounts payable and accrued liabilities	2,044	1,210
Accrued compensation and benefits	(1,023)	(530)
Operating lease liabilities	0	(66)
Net cash used in operating activities	(11,493)	(4,150)
Cash flows from financing activities:
Payments on insurance financing debt	(71)	(80)
Proceeds from issuance of common stock	3,250	0
Proceeds from the exercise of warrants	155	1
Payment of equity issuance costs	(74)	(178)
Proceeds from issuance of common stock under Employee Stock Purchase Plan	20	3
Net cash provided by (used in) financing activities	3,280	(254)
Net decrease in cash, cash equivalents and restricted cash	(8,213)	(4,404)
Cash, cash equivalents and restricted cash, beginning of year	133,440	9,847
Cash, cash equivalents and restricted cash, end of period	125,227	5,443
Reconciliation of cash, cash equivalents and restricted cash to the balance sheets:
Cash and cash equivalents	125,172	5,417
Restricted cash	55	26
Total cash, cash equivalents and restricted cash	125,227	5,443
Supplemental disclosures of cash flow information:
Interest paid	1	1
Supplemental disclosures of non-cash investing and financing activities:
Deferred equity issuance costs included in accounts payable and accrued liabilities	19	0
Payment of equity issuance costs previously included in accounts payable and accrued liabilities	46	0
Fair value of common shares issued in settlement of share liability (Note 4)	313	0
Insurance financing debt included in prepaid and other current assets and other noncurrent assets	$ 0	$ 312

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 125,172,000	$ 133,385,000
Accounts receivable	500,000	0
Prepaid expenses and other current assets	1,588,000	836,000
Total current assets	127,260,000	134,221,000
Restricted cash	55,000	55,000
Other noncurrent assets	0	68,000
Total assets	127,315,000	134,344,000
Current liabilities:
Accounts payable	1,835,000	767,000
Accrued liabilities	3,136,000	2,187,000
Accrued compensation and benefits	275,000	1,298,000
Share liability	0	313,000
Insurance financing debt	0	71,000
Total current liabilities	5,246,000	4,636,000
Derivative liability	62,000	62,000
Contingent consideration obligation	259,000	266,000
Total liabilities	5,567,000	4,964,000
Commitments and contingencies (Note 9)
Stockholders' equity:
Common stock, $0.01 par value; 450,000,000 and 300,000,000 shares authorized; 173,595,201 and 159,444,017 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1,735,000	1,594,000
Additional paid-in capital	292,910,000	280,509,000
Accumulated deficit	(172,899,000)	(152,725,000)
Total stockholders' equity	121,748,000	129,380,000
Total liabilities and stockholders' equity	127,315,000	134,344,000
Series A Preferred Stock [Member]
Stockholders' equity:
Series A Convertible Preferred Stock, $0.01 par value, 7,000,000 shares authorized; 200,000 issued and outstanding at June 30, 2026 and December 31, 2025	$ 2,000	$ 2,000