Palisade Bio Inc. (NASDAQ: PALI) is a pharmaceutical company that holds specialized expertise in the domain of the mucus barrier protecting the gastrointestinal tract. With this set of specialized skills, the company holds immense potential for seeing its pipeline develop into an enhanced product line. Its stock has been spontaneously surging as of late.
PALI Undertakes Impressive Climb
PALI stock has had a couple of field days, taking on an impressive bullish climb, with no real fundamental or business-related updates coming from management. In just the last three days, the stock price saw a remarkable takeoff, which brought it from $1.80 to $3.39. This 80% rise seemingly comes from a coordinated attempt at what apparently is a pump, which makes it unpredictable to spot an entry point for retail traders.
A Broader Look into Palisade Bio Inc.
Despite PALI stock’s takeoff being described as an artificial pump by a certain segment of market participants, it remains difficult to overlook the strengths it inherently holds. As a pharmaceutical company, Palisade Bio saw the achievement of several milestones throughout 2022. Most recently, its LB1148 trial candidate saw a granting of fast-track designation by the US FDA. This drug is highly effective in treating impacted bowel function following surgeries of a gastrointestinal nature. Fast-tracking any candidate is always major news, as it significantly accelerates the development process, and brings its commercialization much sooner than the standard channels. The company, therefore, has a strong overall pipeline of treatments that are each highly capable of hitting the shelves with a sound development process, overall.
PALI stock pushes on with its mighty climb in what appears to be a coordinated attempt at a price pump. However, the strong promise that the biotech company holds may suggest that the dump may not be as severe as bears would expect.