Palisade Bio surges 39% on fast track tag for post surgery gastrointestinal therapy

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• Palisade Bio (NASDAQ:PALI) said on Tuesday the U.S. Food and Drug Administration had granted Fast Track designation to LB1148, used for the acceleration of time to return of bowel function following gastrointestinal surgery.
• (PALI) is trading ~39% higher premarket.
• Fast Track is a process designed to facilitate the development and expedite the review of drugs to treat serious conditions and fulfill an unmet medical need.
• LB1148, is a protease inhibitor which acts to neutralize digestive enzymes, with the potential to both reduce abdominal adhesions and accelerate the return of bowel function following gastrointestinal surgery.