# EDGAR Filing Document

**Accession Number:** 0001357459
**File Stem:** 0001493152-25-021900
**Filing Date:** 2025-11
**Character Count:** 21416
**Document Hash:** 7cea61e12844d4e8fd644f60d06a05b7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-021900.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001493152-25-021900

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**EFFECTIVENESS DATE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PALISADE BIO, INC.
- **CENTRAL INDEX KEY:** 0001357459
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 522007292
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-291465
- **FILM NUMBER:** 251472643

**BUSINESS ADDRESS:**
- **STREET 1:** 7750 EL CAMINO REAL, SUITE 5200
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92009
- **BUSINESS PHONE:** (858) 704-4900

**MAIL ADDRESS:**
- **STREET 1:** 7750 EL CAMINO REAL, SUITE 5200
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92009

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Seneca Biopharma, Inc.
- **DATE OF NAME CHANGE:** 20200127

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Neuralstem, Inc.
- **DATE OF NAME CHANGE:** 20060324

**As filed with the Securities and Exchange Commission on November 12, 2025**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

**Palisade Bio, Inc.**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Delaware** | **52-2007292** |
| **(State or other jurisdiction of** | **(I.R.S. Employer** |
| **incorporation or organization)** | **Identification No.)** |

---

---

| | |
|:---|:---|
| **1902 Wright Place**<br> **Suite 200**<br> **Carlsbad, California** | **92008** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Palisade Bio, Inc. 2021 Equity Incentive Plan**

**Palisade Bio, Inc. 2021 Employee Stock Purchase Plan**

**(Full titles of the plans)**

**J.D. Finley**

**Chief Executive Officer**

**Palisade Bio, Inc.**

**1902 Wright Place**

**Suite 200**

**Carlsbad, California 92008**

**(858) 704-4900**

**(Name, address, including zip code, and telephone number, including area code, of agent for service)**

***Copies to:***

**Jeffrey C. Thacker**

**Gunderson Dettmer Stough Villeneuve** 

**Franklin & Hachigian, LLP**

**3570 Carmel Mountain Road, Suite 200**

**San Diego, CA 92130**

**(858) 436-8000**

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 is filed by Palisade Bio, Inc., a Delaware corporation ("Palisade" or "Registrant"), for the purpose of registering an additional 236,557 shares ("Additional Securities") of its common stock, par value $0.01 per share (the "Common Stock"), that are issuable to eligible employees, consultants, contractors, and directors of the Registrant and its affiliates under the Registrant's: (i) Palisade Bio, Inc. 2021 Equity Incentive Plan, as amended (the "2021 Plan"); and (ii) Palisade Bio, Inc. 2021 Employee Stock Purchase Plan, as amended (the "2021 ESPP") (collectively "the Plans"). The Registrant previously registered an aggregate of 129,259 shares of Common Stock underlying the Plans that are issuable to eligible employees, consultants, contractors, and directors of the Registrant and its affiliates, consisting of: (i) 2,157 shares on Form S-8 (File No. 333-259553) filed on September 15, 2021, (ii) 949 shares on Form S-8 (File No. 333-263706) filed on March 18, 2022, (iii) 64,348 shares on Form S-8 (File No. 333-274522) filed on September 14, 2023, and (iv) 61,805 shares on Form S-8 (File No. 333-278387) filed on March 29, 2024 (collectively the "Prior Registration Statements"). All share amounts reflected in this Registration Statement on Form S-8 give effect to the 1-for-50 reverse stock split that became effective November 16, 2022 and the 1-for-15 reverse stock split that became effective April 5, 2024.

This Registration Statement relates to securities of the same class as registered on the Prior Registration Statements and is submitted in accordance with General Instruction E to Form S-8 regarding Registration of the Additional Securities. Pursuant to Instruction E of Form S-8, the Prior Registration Statements are incorporated by reference and made part of this Registration Statement, except to the extent supplemented, amended or superseded by the information set forth herein.

**USE OF COMBINED PROSPECTUS**

Pursuant to Rule 429(a) of the Securities Act of 1933, as amended, the prospectus that will be used in connection with the offer and sale of the securities covered by this Registration Statement and issued pursuant to the Plans (the "Combined Prospectus") will also be used in connection with the sale of securities covered by the Prior Registration Statement.

**PART II. INFORMATION REQUIRED IN REGISTRATION STATEMENT**

**ITEM 8. EXHIBITS.**

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 3.1 | [Amended and Restated Certificate of Incorporation of the Registrant (Incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed with the SEC on April 27, 2021).](https://www.sec.gov/Archives/edgar/data/1357459/000117184321002819/exh_31.htm) |
| 3.2 | [Amendment to Amended and Restated Certificate of Incorporation of Palisade Bio, Inc., effective November 15, 2022 (Incorporated by reference to Exhibit 3.01(i) to the Registrant's Current Report on Form 8-K, filed with the SEC on November 16, 2022).](https://www.sec.gov/Archives/edgar/data/1357459/000149315222032591/ex3-01i.htm) |
| 3.3 | [Amendment to the Amended and Restated Certificate of Incorporation of Palisade Bio, Inc. effective April 5, 2024 (Incorporated by reference to Exhibit 3.01(i) to the Registrant's Current Report on Form 8-K, filed with the SEC on April 5, 2024).](https://www.sec.gov/Archives/edgar/data/1357459/000149315224013336/ex3-1.htm) |
| 3.4 | [Certificate of Designation of Series A 4.5% Convertible Preferred Stock (Incorporated by reference to Exhibit 3.01 to the Registrant's Current Report on Form 8-K, filed with the SEC on December 12, 2016).](https://www.sec.gov/Archives/edgar/data/1357459/000117184316013585/exh_301.htm) |
| 3.5 | [Certificate of Designation of Preferences, Rights and Limitations of Series B Convertible Preferred Stock (Incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed with the SEC on August 16, 2022).](https://www.sec.gov/Archives/edgar/data/1357459/000095017022017505/pali-ex3_1.htm) |
| 3.6 | [Amended and Restated Bylaws of the Registrant (Incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed with the SEC on March 6, 2024.](https://www.sec.gov/Archives/edgar/data/1357459/000149315224009042/ex3-1.htm) |
| 5.1\* | [Opinion of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP.](ex5-1.htm) |
| 10.1 | [Palisade Bio, Inc. 2021 Equity Incentive Plan, as amended (Incorporated by reference to Exhibit 10.01 to the Registrant's Current Report on Form 8-K, filed with the SEC on June 9, 2023).](https://www.sec.gov/Archives/edgar/data/1357459/000149315223020669/ex10-01.htm) |
| 10.2 | [Form of Stock Option Grant Notice, Stock Option Agreement and Notice of Exercise under the Palisade Bio, Inc. 2021 Equity Incentive Plan (Incorporated by reference to Exhibit 10.4 to the Registrant's Current Report on Form 8-K, filed with the SEC on November 23, 2021).](https://www.sec.gov/Archives/edgar/data/1357459/000095017021004851/pali-ex10_4.htm) |
| 10.3 | [Form of Non-Employee Director Stock Option Grant Notice, Stock Option Agreement and Notice of Exercise under the Palisade Bio, Inc. 2021 Equity Incentive Plan (Incorporated by reference to Exhibit 10.5 to the Registrant's Current Report on Form 8-K, filed with the SEC on November 23, 2021).](https://www.sec.gov/Archives/edgar/data/1357459/000095017021004851/pali-ex10_5.htm) |
| 10.4 | [Form of Restricted Stock Unit Grant Notice and Award Agreement under the Palisade Bio, Inc. 2021 Equity Incentive Plan (Incorporated by reference to Exhibit 10.4 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on November 10, 2025).](https://www.sec.gov/Archives/edgar/data/1357459/000119312525274262/pali-ex10_4.htm) |
| 10.5 | [Form of Restricted Stock Unit Grant Notice and Award Agreement under the Palisade Bio, Inc. 2021 Equity Incentive Plan (Optional Cash Settlement) (Incorporated by reference to Exhibit 10.5 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on November 10, 2025).](https://www.sec.gov/Archives/edgar/data/1357459/000119312525274262/pali-ex10_5.htm) |
| 10.6 | [Palisade Bio, Inc. Employee Stock Purchase Plan, as amended (Incorporated by reference to Exhibit 10.02 to the Registrant's Current Report on Form 8-K, filed with the SEC on June 9, 2023).](https://www.sec.gov/Archives/edgar/data/1357459/000149315223020669/ex10-02.htm) |
| 23.1\* | [Consent of Baker Tilly US, LLP.](ex23-1.htm) |
| 23.3\* | [Consent of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP. (included in Exhibit 5.1).](ex5-1.htm) |
| 24.1 | [Power of Attorney (reference is made to the signature page hereto).](#poa_10) |
| 107\* | [Filing Fee Table.](ex107.htm) |

---

\* Filed herein

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Carlsbad, State of California, on November 12, 2025.

---

| | |
|:---|:---|
| **PALISADE BIO, INC.** | **PALISADE BIO, INC.** |
| By: | */s/ J.D. Finley* |
|  | J.D. Finley |
|  | *Chief Executive Officer* |
|  | *Chief Financial Officer* |

---

**POWER OF ATTORNEY**

KNOW ALL BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints J.D. Finley, as his or her true and lawful attorneys-in-fact and agents, with the full power of substitution, for him or her and in his or her name, place or stead, in any and all capacities, to sign any and all amendments to this Registration Statement (including post-effective amendments), and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming that said attorneys-in-fact and agents, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Title** | **Date** |
| */s/ J.D. Finley* | Chief Executive Officer, Chief Financial Officer and Director | November 12, 2025 |
| J.D. Finley | *(Principal Executive Officer, Principal Financial and Accounting Officer)* |  |
| */s/ Donald A. Williams* | Chairman of the Board of Directors | November 12, 2025 |
| Donald A. Williams |  |  |
| */s/ Binxian Wei* | Director | November 12, 2025 |
| Binxian Wei |  |  |
| */s/ Emil Chuang* | Director | November 12, 2025 |
| Emil Chuang |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_01.jpg)

November 12, 2025

Palisade Bio, Inc.

1902 Wright Place

Suite 200

Carlsbad, CA 92008

Ladies and Gentlemen:

We refer to the registration statement on Form S-8 (the "Registration Statement") to be filed by Palisade Bio, Inc., a Delaware corporation (the "Company"), with the Securities and Exchange Commission (the "Commission") in connection with the registration under the Securities Act of 1933, as amended (the "Act"), of an aggregate of 236,557 shares of the Company's common stock, $0.01 par value per share (the "Shares"), that are subject to issuance by the Company upon (i) the exercise or settlement of awards granted or to be granted under the Company's 2021 Equity Incentive Plan and (ii) the exercise of purchase rights to acquire shares of common stock granted or to be granted under the Company's 2021 Employee Stock Purchase Plan. The Company's 2021 Equity Incentive Plan and 2021 Employee Stock Purchase Plan are collectively referred to in this letter as the "Plans".

In connection with this opinion, we have reviewed the actions proposed to be taken by you in connection with the issuance and sale of the Shares to be issued under the Plans. We have also examined and relied upon the Registration Statement and the originals or copies certified to our satisfaction of such other documents, records, certificates, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinion expressed below. With your consent, we have relied upon certificates and other assurances of officers of the Company as to factual matters without having independently verified such factual matters. We have assumed the genuineness and authenticity of all documents submitted to us as originals, and the conformity to originals of all documents submitted to us as copies thereof and the due execution and delivery of all documents where due execution and delivery are a prerequisite to the effectiveness thereof.

This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement, other than as expressly stated herein with respect to the issue of the Shares. Our opinion is limited to the matters stated herein and no opinion is implied or may be inferred beyond the matters expressly stated. Our opinion herein is expressed solely with respect to the federal laws of the United States and the General Corporation Law of the State of Delaware. Our opinion is based on these laws as in effect on the date hereof, and we disclaim any obligation to advise you of facts, circumstances, events or developments which hereafter may be brought to our attention and which may alter, affect or modify the opinion expressed herein. We are not rendering any opinion as to compliance with any federal or state antifraud law, rule or regulation relating to securities, or to the sale or issuance thereof.

Based upon and subject to the foregoing, we advise you that, in our opinion, when the Shares have been issued and sold by the Company pursuant to the applicable provisions of the Plans and pursuant to the agreements which accompany the Plans, and in accordance with the Registration Statement, such Shares will be validly issued, fully paid and nonassessable.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

---

| |
|:---|
| Sincerely, |
| */s/ Gunderson Dettmer Stough* |
| Villeneuve Franklin & Hachigian, LLP |
| GUNDERSON DETTMER STOUGH |
| VILLENEUVE FRANKLIN & HACHIGIAN, LLP |

---

![](ex5-1_02.jpg)

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 of Palisade Bio, Inc. of our report dated March 24, 2025, relating to the consolidated financial statements, which includes an explanatory paragraph relating to the Company's ability to continue as a going concern.

*/s/ Baker Tilly US, LLP*

New York, New York

November 12, 2025

Baker Tilly Advisory Group, LP and Baker Tilly US, LLP, trading as Baker Tilly, are members of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. Baker Tilly US, LLP is a licensed CPA firm that provides assurance services to its clients. Baker Tilly Advisory Group, LP and its subsidiary entities provide tax and consulting services to their clients and are not licensed CPA firms.

## Ex-Filing

?xml version='1.0' encoding='ASCII'?

**Exhibit 107**

**Calculation of Filing Fee Table**

Form S-8

(Form Type)

Palisade Bio, Inc.

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered Securities

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Security<br> Type | Security<br> Class Title | Fee Calculation Rule | Amount<br> Registered(1) |  | Proposed Maximum Offering Price Per Unit ($) (2) | Maximum Aggregate Offering Price ($) (2) | Fee Rate | Amount of Registration Fee ($) |
| Equity | **2021 Palisade Bio, Inc. Equity Incentive Plan, as amended**<br>Common Stock, $0.01 par value per share | 457(h) (2) | 207648 | (3) | $1.71 | $355078.08 | 0.00013810 | $49.04 |
| Equity | **Palisade Bio, Inc. 2021 Employee Stock Purchase Plan, as amended**<br>Common Stock, $0.01 par value per share | 457(h) (2) | 28909 | (4) | $1.45 | $41918.05 | 0.00013810 | $5.79 |
| Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts |  | $396996.13 |  | $54.83 |
| Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid |  |  |  |  |
| Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets |  |  |  |  |
| Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  | $54.83 |

---

(1) Pursuant
to Rule 416(a) under the Securities Act of 1933, as amended (the "  ***Securities Act*** "), this Registration Statement
shall also cover any additional shares of common stock, par value $0.01 per share ("  ***Common Stock*** "), of Palisade
Bio, Inc. (the "  ***Registrant***") that become issuable under the Registrant's: (i) Palisade Bio, Inc. 2021
Equity Incentive Plan, as amended (the "  ***2021 Plan***") and (ii) Palisade Bio, Inc. 2021 Employee Stock Purchase
Plan, as amended (the "  ***2021 ESPP*** "), by reason of any stock dividend, stock split, recapitalization or other
similar transaction.

(2) Estimated
 solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) and 457(c) of the Securities Act.
 The proposed maximum aggregate offering price per share and proposed maximum aggregate offering price for the 2021 Plan shares are
 calculated using the average of the high and low prices of the Common Stock as reported on the Nasdaq Capital Market on November
 6, 2025. The proposed maximum aggregate offering price per share and proposed maximum aggregate offering price for the 2021 ESPP
 shares are calculated using the average of the high and low prices of the Common Stock as reported on the Nasdaq Capital Market on
 November 6, 2025, multiplied by 85%, which is the percentage of the price per share applicable to purchasers under the 2021 ESPP.

(3) Represents
 shares of Common Stock that were automatically added to the shares authorized for issuance under the 2021 Plan on January 1, 2025
 pursuant to an "evergreen" provision contained in the 2021 Plan. Pursuant to such provision, on January 1st of 2025,
 the number of shares authorized for issuance under the 2021 Plan automatically increased by 7.5% of the total number of shares of
 Common Stock of the Registrant deemed outstanding on December 31 of the preceding calendar year.

(4) Represents
 shares of Common Stock that were automatically added to the shares authorized for issuance under the 2021 ESPP on January 1, 2025
 pursuant to an "evergreen" provision contained in the 2021 ESPP. Pursuant to such provision, on January 1st of 2025,
 the number of shares authorized for issuance under the 2021 ESPP automatically increased by 28,909 shares of Common Stock, which
 was the lesser of (i) 2.5% of the total number of shares of Common Stock outstanding on December 31st of the preceding calendar year
 and (ii) 28,909 shares of Common Stock (which number reflects the Registrant's 1-for-15 reverse stock split that became effective
 April 5, 2024).