Palisade Bio’s stock more than doubles on news of licensing deal with Giiant Pharma for IBD therapies

Palisade Bio Inc.’s stock PALI more than doubled in price on Wednesday, after the company announced a licensing agreement with privately held Giiant Pharma Inc. Carlsbad, Calif.-based Palisade said the license gives it exclusive worldwide rights to develop, make and commercialize Giiant’s proprietary targeted prodrug platform which specializes in therapies for the IBS market. “The licensed technologies include Giiant’s precision delivery technology platform and multiple product candidates, including the lead asset in development, GT-2108, an orally administered, gut-restricted, colon-specific phosphodiesterase-4 (PDE4)…