The company remains in a pre-revenue stage, with operating losses widening to $10.7 million in 2026Q1 due to intensified R&D spending.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 250K | 0 | 0 | 0 | 15.39K | 260K | 260K | 16.25K | 10.42K | 18.83K | 110K | 407.71K | 390.63K | 733.44K | 0 | 0 | 306.06K | 265.76K | 309.14K |
| Revenue Growth % | - | - | -100% | - | - | - | -100% | -94.08% | 0% | 1500.39% | 55.96% | -44.69% | -82.88% | -73.02% | 4.37% | -46.74% | - | - | -100% | 15.16% | -14.03% | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 | 146K | 0 | -990K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 65.76K | 0 | 53.58K | 53.58K |
| COGS % of Revenue | - | - | - | - | - | - | - | - | -380.77% | - | - | - | - | - | - | - | - | - | - | - | 20.16% | 17.33% |
| Gross Profit | 0 | 0 | 0 | 250K | 0 | 0 | -146K | 15.39K | 1.25M | 260K | 16.25K | 10.42K | 18.83K | 110K | 407.71K | 390.63K | 733.44K | 0 | 0 | 306.06K | 265.76K | 255.57K |
| Gross Margin % | - | - | - | 100% | - | - | - | 100% | 480.77% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | - | - | 100% | 100% | 82.67% |
| Gross Profit Growth % | - | - | -100% | - | - | 100% | -1048.42% | -98.77% | 380.77% | 1500.39% | 55.96% | -44.69% | -82.88% | -73.02% | 4.37% | -46.74% | - | - | -100% | 15.16% | 3.99% | - |
| Operating Expenses | 26.49M | 18.06M | 14.86M | 13.32M | 15.72M | 41.85M | 9.15M | 8.65M | 8.52M | 13.57M | 20.65M | 19.17M | 17.45M | 12.63M | 10.56M | 13.38M | 15.92M | 10.47M | 11.83M | 1.57M | 3.43M | 1.82M |
| OpEx % of Revenue | - | - | - | 5328% | - | - | - | 56171.24% | 3276.54% | 5218.08% | 127126.68% | 183997.31% | 92683.06% | 11485.45% | 2591.07% | 3425.54% | 2170.33% | - | - | 514.61% | 1289.51% | 589.7% |
| Selling, General & Admin | 10.86M | 7.86M | 5.8M | 6.2M | 8.76M | 9.31M | 6.05M | 4.44M | 4.37M | 5.18M | 7M | 6.18M | 8.97M | 5.25M | 4.25M | 5.84M | 6.62M | 5.03M | 5.25M | 3.2M | 1.72M | 1.25M |
| SG&A % of Revenue | - | - | - | 2480.8% | - | - | - | 28855.4% | 1681.92% | 1993.08% | 43099.84% | 59364.5% | 47634.47% | 4777.27% | 1041.68% | 1494.78% | 903.14% | - | - | 1045.88% | 645.32% | 405.96% |
| Research & Development | 15.64M | 10.19M | 9.06M | 6.89M | 6.55M | 2.43M | 3.1M | 4.06M | 3.96M | 8M | 12.84M | 12.64M | 8.13M | 7.13M | 6.11M | 7.36M | 9.16M | 5.35M | 6.51M | 3.44M | 1.66M | 568.3K |
| R&D % of Revenue | - | - | - | 2757.2% | - | - | - | 26380.41% | 1523.08% | 3078.46% | 79059.46% | 121311.32% | 43195.45% | 6485.45% | 1497.64% | 1882.88% | 1249.46% | - | - | 1123.97% | 624.63% | 183.83% |
| Other Operating Expenses | 0 | 0 | 0 | 225K | 410K | 30.12M | 0 | 0 | 0 | 0 | 0 | 0 | 348.63K | 244.72K | 211.14K | 187.05K | 130.75K | 88.66K | 65.76K | 32.06K | 51.92K | 0 |
| Operating Income | -26.49M | -18.06M | -14.86M | -13.07M | -15.72M | -41.85M | -9.3M | -8.63M | -8.26M | -13.21M | -20.17M | -19.16M | -17.44M | -12.52M | -10.16M | -12.99M | -15.19M | -10.47M | -11.83M | -6.37M | -3.16M | -1.57M |
| Operating Margin % | - | - | - | -5228% | - | - | - | -56073.79% | -3176.54% | -5082.69% | -124135.17% | -183901.32% | -92582.17% | -11385.45% | -2491% | -3325.44% | -2070.39% | - | - | -2080.66% | -1189.8% | -506.89% |
| Operating Income Growth % | - | -21.52% | -13.69% | 16.86% | 62.44% | -350.19% | -7.7% | -4.52% | 37.5% | 34.47% | -5.27% | -9.87% | -39.22% | -23.32% | 21.82% | 14.46% | -45.08% | 11.54% | -85.8% | -101.39% | -101.79% | - |
| EBITDA | -26.5M | -18.05M | -14.86M | -13.07M | -15.72M | -41.85M | -9.15M | -8.49M | -8.07M | -12.93M | -19.83M | -18.81M | -17.09M | -12.28M | -9.94M | -12.8M | -15.05M | -10.38M | -11.77M | -6.33M | -3.11M | -1.51M |
| EBITDA Margin % | - | - | - | -5226.4% | - | - | - | -55139.28% | -3105.08% | -4971.46% | -122057.69% | -180585.01% | -90731% | -11162.98% | -2439.21% | -3277.56% | -2052.56% | - | - | -2067.53% | -1169.64% | -489.56% |
| EBITDA Growth % | -96.36% | -21.52% | -13.7% | 16.87% | 62.44% | -357.35% | -7.81% | -5.14% | 37.54% | 34.82% | -5.41% | -10.09% | -39.16% | -23.47% | 22.32% | 14.95% | -45.06% | 11.8% | -85.94% | -103.57% | -105.39% | - |
| D&A (Non-Cash Add-back) | -1K | 3K | 3K | 4K | 3K | 2K | 146K | 143.86K | 185.8K | 289.21K | 337.51K | 345.46K | 348.63K | 244.72K | 211.14K | 187.05K | 130.75K | 88.66K | 65.76K | 40.18K | 53.58K | 53.58K |
| EBIT | -26.57M | -16.77M | -14.43M | -12.29M | -14.25M | -24.22M | -10.09M | -8.34M | -4.92M | -15.51M | -19.93M | -19.09M | -21.01M | -18.44M | -10.12M | -12.52M | -18.39M | -10.36M | -11.83M | -6.17M | -3.14M | -1.55M |
| Net Interest Income | -8K | -10K | -12K | -15K | 0 | -2.4M | -235K | 58.81K | 71.08K | -88.8K | -1.08M | -1.75M | -1.55M | -1.33M | 31.45K | 60.13K | 0 | 0 | 0 | 0 | 0 | -94.88K |
| Interest Income | 0 | 0 | 0 | 0 | 13K | 0 | 0 | 67.73K | 78.78K | 70.27K | 58.84K | 69.55K | 67.65K | 68K | 34.15K | 60.95K | 0 | 0 | 39.81K | 0 | 0 | 7.89K |
| Interest Expense | 8K | 10K | 12K | 15K | 13K | 2.4M | 235K | 8.92K | 7.7K | 159.07K | 1.14M | 1.82M | 1.62M | 1.39M | 2.7K | 821 | 2.66K | 776 | 0 | 0 | 9.46K | 102.77K |
| Other Income/Expense | 2.34M | 1.27M | 421K | 770K | 1.46M | 15.24M | -1.02M | 280.04K | 3.33M | -2.45M | -908K | -1.75M | -5.19M | -7.31M | 34.94K | 411.81K | -3.26M | 102.19K | 1.18K | 193.45K | 0 | -84.15K |
| Pretax Income | -24.15M | -16.78M | -14.44M | -12.3M | -14.26M | -26.62M | -10.32M | -8.35M | -4.92M | -15.67M | -21.07M | -20.9M | -22.63M | -19.83M | -10.12M | -12.58M | -18.44M | -10.38M | -11.83M | 0 | -3.15M | -1.65M |
| Pretax Margin % | - | - | - | -4920% | - | - | - | -54254.9% | -1894.23% | -6025.38% | -129724.24% | -200671.98% | -120156.11% | -18029.09% | -2482.66% | -3220.22% | -2514.73% | - | - | - | -1184.16% | -534.38% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 68.83K | 0 | 0 | 37.64K | 412.63K | -3.26M | 84.12K | -38.63K | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.33% | 0% | 0% | -0.37% | -3.28% | 17.65% | -0.81% | 0.33% | - | 0% | 0% |
| Net Income | -24.15M | -16.78M | -14.44M | -12.3M | -14.26M | -26.62M | -10.32M | -8.35M | -4.92M | -15.67M | -21.07M | -20.9M | -22.63M | -19.83M | -10.12M | -12.52M | -18.39M | -10.36M | -11.83M | -7.06M | -3.15M | -1.65M |
| Net Margin % | - | - | - | -4920% | - | - | - | -54254.9% | -1894.23% | -6025.38% | -129724.24% | -200671.98% | -120156.11% | -18029.09% | -2482.66% | -3204.86% | -2506.96% | - | - | -2307.74% | -1184.16% | -534.38% |
| Net Income Growth % | -83.78% | -16.23% | -17.38% | 13.74% | 46.42% | -157.86% | -23.59% | -69.58% | 68.56% | 25.67% | -0.82% | 7.62% | -14.1% | -95.93% | 19.15% | 31.91% | -77.41% | 12.4% | -67.5% | -124.44% | -90.5% | - |
| Net Income (Continuing) | -24.15M | -16.78M | -14.44M | -12.3M | -14.26M | -26.62M | -10.32M | -8.35M | -4.92M | -15.67M | -21.07M | -20.9M | -22.63M | -19.83M | -10.12M | -12.52M | -18.39M | -10.36M | -11.83M | -6.17M | -3.15M | -1.65M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.12 | -0.30 | -10.19 | -27.01 | -16.53 | -2546.10 | -186.00 | -35.18 | -18.02 | -71.34 | -126.11 | -197.36 | -225.20 | -237.79 | -150.85 | -224.41 | -366.57 | -262.02 | -319.32 | -184.41 | -109.57 | -1.24 |
| EPS Growth % | 83.64% | 97.06% | 62.27% | -63.4% | 99.35% | -1268.87% | -428.71% | -95.23% | 74.74% | 43.43% | 36.1% | 12.36% | 5.29% | -57.63% | 32.78% | 38.78% | -39.9% | 17.94% | -73.16% | -68.3% | -8736.29% | - |
| EPS (Basic) | - | -0.30 | -10.19 | -27.01 | -16.53 | -2144.25 | -186.00 | -14.78 | -18.02 | -71.59 | -126.11 | -197.36 | -225.20 | -237.79 | -150.85 | -224.41 | -366.57 | -262.02 | -319.32 | -184.41 | -109.57 | -1.24 |
| Diluted Shares Outstanding | 209.66M | 55.67M | 1.42M | 456.01K | 880.3K | 12.46K | 237.39K | 237.39K | 273.24K | 219.6K | 8.35K | 105.92K | 100.48K | 83.4K | 67.09K | 55.78K | 50.16K | 39.55K | 37.05K | 33.48K | 21 | 1.34M |
| Basic Shares Outstanding | 209.66M | 55.67M | 1.42M | 456.01K | 880.1K | 12.41K | 832.3K | 122.41K | 273.24K | 218.84K | 8.35K | 105.92K | 100.48K | 83.4K | 67.09K | 55.78K | 50.16K | 39.55K | 37.05K | 33.48K | 21 | 1.34M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Binary clinical trial failure
As indicated by recent financial disclosures, Palisade Bio's quarterly R&D spending surged to $6.4 million in 2026Q1, representing a significant increase from the $1.4 million reported in 2025Q3, reflecting the intensified clinical development efforts required to advance the company's lead therapeutic candidate through late-stage testing.
The sharp rise in R&D costs suggests that the company is entering a more capital-intensive phase of its clinical trials, likely driven by increased patient enrollment and site management fees. Investors should monitor whether this expense trajectory remains sustainable given the company's current cash reserves and the absence of any offsetting revenue streams.
According to the latest quarterly filings, Palisade Bio recorded $3.7 million in stock-based compensation during 2025Q4, a notable departure from the nominal amounts seen in previous quarters, which significantly exacerbated the reported net loss of $8.9 million for that specific three-month period.
This spike in non-cash compensation warrants further investigation, as it may indicate aggressive retention strategies or the vesting of performance-based awards. Such items obscure the underlying operational burn rate and suggest that shareholders should adjust their valuation models to account for the dilutive impact of these equity-based incentives.
Based on the provided income statement data, Palisade Bio continues to operate without any revenue, resulting in an operating loss that widened to $10.7 million in 2026Q1, as the firm lacks the structural scale to leverage its fixed SG&A and R&D costs against any top-line performance.
The absence of revenue means that every dollar spent on operations directly impacts the cash runway without the benefit of margin expansion. This structure implies that the company's financial health is entirely dependent on external capital infusions or the successful commercialization of its pipeline rather than internal operational efficiency.
As reported in financial statements, the company's persistent quarterly operating losses, which reached $10.7 million in 2026Q1, raise questions regarding the long-term viability of the current business model if clinical milestones are not met, despite the reported $133.39 million cash position providing a temporary buffer.
Short-term observers might argue that the market's skepticism, potentially pricing the company near or below its cash value, reflects a lack of confidence in the management's ability to convert capital into a viable commercial product. Investors should consider the risk that the current cash runway may be insufficient if clinical timelines face unexpected regulatory delays or if the cost of trial execution continues to accelerate.
Quick answers to the most common questions about buying PALI stock.
For fiscal year 2025, Palisade Bio, Inc. (PALI) reported total revenue of $0.0M. This represents a 100.0% decline compared to $0.3M in 2005.
Palisade Bio, Inc. (PALI) reported a net loss of $16.8M for the fiscal year ending 2025.