SNCA merged with Leading Biosciences to create Palisade Bio (PALI). Potential Investment Opportunity.
Palisade Bio (PALI), formed by the reverse merger of Seneca BioSciences (NASDAQ: SNCA) and privately held Leading BioSciences, will begin trading on the Nasdaq today.
* A concurrent $20M investment was led by Altium Capital as part of the merger.
* Palisade is focusing on drugs for gastrointestinal conditions.
* The company's sole pipeline product, LB1148, is an oral broad-spectrum protease inhibitor for multiple indications in phase 2.
* Palisade intends for LB1148 to compete against Merck's Entereg (alvimopan)
Seneca Biopharma (SNCA) performed a 1 for 6 reverse split and changed its name to Palisade Bio (PALI). This means shareholders will receive 1 share of PALI for every 6 shares of SNCA they held in their account on April 28th, 2021.
https://www.reddit.com/r/StockMarket/comments/n1gdu4/snca_merged_with_leading_biosciences_to_create/
