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Palatin Technologies, Inc. (NYSE American: PTN) is a specialized biopharmaceutical company based in Cranbury, New Jersey. The company focuses on developing first-in-class medicines that target the melanocortin and natriuretic peptide receptor systems. These therapies are aimed at treating a variety of diseases with significant unmet medical needs and commercial potential.
The company's lead product is Vyleesi, a melanocortin receptor agonist for premenopausal women suffering from hypoactive sexual desire disorder (HSDD). Recently, Palatin announced the divestiture of Vyleesi to better focus on its robust development and clinical pipeline.
Palatin is also advancing several promising candidates through clinical trials:
- PL9643: A melanocortin receptor agonist for treating dry eye disease (DED). The company recently reported successful results from its Phase 3 MELODY-1 trial, demonstrating significant efficacy and safety.
- PL8177: This selective melanocortin receptor 1 (MC1R) agonist peptide has completed Phase 1 trials for inflammatory bowel diseases and systemic non-infectious uveitis. It is being further developed for treating COVID-19.
- PL3994: A natriuretic peptide receptor (NPR)-A agonist aimed at treating cardiovascular diseases and other conditions.
Palatin’s strategic focus is on developing targeted, receptor-specific product candidates and forming marketing collaborations with industry leaders to maximize their commercial potential. The company's research and development efforts are guided by a commitment to innovative science and a focus on areas with high probability of success and differentiation.
Financially, Palatin has shown strong operational progress. As of the latest fiscal quarter, the company announced a substantial cash position, ensuring the funding of its ongoing projects into the second half of 2024. The company's leadership believes that their internal research and development efforts, concentrating on melanocortin receptor-based therapies, hold significant promise for the treatment of various conditions, including obesity and erectile dysfunction.
Palatin’s approach to biopharmaceutical development underscores a commitment to addressing significant medical needs through innovative receptor-specific therapies. For more information, visit www.Palatin.com and follow them on Twitter at @PalatinTech.
Palatin Technologies (PTN) announced its fiscal Q2 results for the period ending December 31, 2021. The company reported a net loss of $8.7 million, or $0.04 per share, an improvement from the $10 million loss in the prior year. Cash and investments totaled $47.3 million. Palatin initiated a Phase 3 study for PL9643 targeting dry eye disease, with results expected in H2 2022. Despite an 18% decline in gross sales of Vyleesi, net product revenue rose 144%. Operational cash burn reduced significantly, affirming a cash runway until at least March 2023.
Palatin Technologies, Inc. (PTN) is set to announce its Q2 fiscal year 2022 operating results on February 15, 2022, prior to the market opening. Following the release, a conference call will take place at 11:00 a.m. ET, featuring a review of operating results and updates on ongoing programs. The event will be accessible via live audio webcast. Investors can access replay details from Palatin's website. Palatin focuses on developing innovative therapies targeting unmet medical needs within biopharmaceuticals.
Palatin Technologies, Inc. (NYSE American: PTN) announced a positive presentation regarding its drug PL8177 for treating ulcerative colitis at the Crohn's and Colitis Congress on January 21, 2022. The data revealed that PL8177 significantly improved colitis markers in an animal model and showed a decrease in immune response-related gene expression. Palatin plans a phase 2 clinical study for PL8177 later this year. CEO Carl Spana highlighted the importance of these findings for understanding melanocortin's role in inflammation.
Palatin Technologies, Inc. (NYSE American: PTN) announced its participation in the H.C. Wainwright BioConnect Virtual Conference from January 10–13, 2022. CEO Carl Spana, PhD, will discuss the company's pipeline and provide an update on the Phase 3 MELODY-1 study of PL9643 for dry eye disease. The presentation will be available for on-demand listening starting January 10 at 7:00 a.m. ET. Interested parties can request one-on-one meetings by contacting their H.C. Wainwright representatives or emailing ir@palatin.com.
Palatin Technologies (NYSE American: PTN) has commenced the pivotal Phase 3 MELODY-1 clinical study for PL9643, targeting dry eye disease. This multi-center study will enroll up to 400 patients across the U.S., with top-line results expected in the second half of 2022. Following positive Phase 2 results, Palatin has coordinated with the FDA on study design and key elements necessary for potential New Drug Application (NDA) filings. The Phase 3 program is categorized as a significant milestone for both the company and patients.
Palatin Technologies, Inc. (NYSE American: PTN) announced a Notice of Allowance from the U.S. Patent and Trademark Office for application No. 16/927,347. This patent pertains to the use of melanocortin peptides for reducing pro-inflammatory cytokine levels associated with cytokine storms, a condition linked to immune system dysregulation. CEO Carl Spana highlighted the significance of strengthening their intellectual property surrounding this technology, particularly given its potential implications for diseases like COVID-19. The patent broadens Palatin's portfolio of melanocortin receptor-1 peptides aimed at tackling inflammation.
Palatin Technologies (PTN) reported its fiscal Q1 2022 results, highlighting significant advances in its melanocortin agonist programs. The company expects to initiate a Phase 3 study for PL9643 in December 2021 and a Phase 2 trial for PL8177 in early 2022. Vyleesi's net revenue surged 98% quarter-over-quarter, reaching $159,482, despite a 13% drop in total prescriptions. Total operating expenses rose to $7.4 million, up from $3.7 million in the prior year. Palatin's cash position stands at $53.4 million, sufficient to cover anticipated expenses through 2022.
Palatin Technologies (NYSE American: PTN) will announce its Q1 FY 2022 operating results on November 15, 2021, before U.S. market opening. A conference call will follow at 9:30 a.m. ET, including a review of results and updates on development programs. The results press release will be issued at 7:30 a.m. ET, with a replay available until November 22, 2021. Interested parties can access the audio webcast through Palatin's website.
Palatin Technologies, Inc. (PTN) reported its fourth quarter and fiscal year results, highlighting a successful Phase 2 trial for PL9643, aimed at treating dry eye disease. The company has a cash position of $60.1 million, expected to support operations through 2022. PL9643’s
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