Palatin Technologies, Inc. - PTN STOCK NEWS

Palatin Technologies (NYSE American: PTN) announced its participation at the TIDES USA hybrid conference in Boston from September 20-23, 2021. The company will feature a presentation and two poster presentations focused on its melanocortin peptide research, targeting inflammation. CEO Carl Spana will discuss the development of melanocortin-based therapeutics, while John Dodd will present data on colon inflammation. The presentations aim to showcase potential treatments in inflammatory conditions.

Palatin Technologies, a biopharmaceutical company focused on developing first-in-class medicines, announced that Dr. Carl Spana, President and CEO, will participate in the H.C. Wainwright 23rd Annual Global Investment Virtual Conference from September 13-15, 2021. The company specializes in medications that target melanocortin and natriuretic peptide receptor systems, aiming to address significant unmet medical needs. Palatin's strategy includes developing products and forming marketing collaborations to maximize their commercial potential.

Palatin Technologies (PTN) announced a presentation by CEO Carl Spana at the Eyecelerator@ASCRS Conference in Las Vegas, discussing the role of melanocortins in reducing inflammation and presenting data from a Phase 2 study of PL9643 for dry eye disease (DED). The company is set to initiate a Phase 3 clinical trial in late 2021, with a potential NDA submission in late 2023. Notably, PL9643 demonstrated statistically significant improvements in patient symptomatology and showed excellent ocular tolerability in the Phase 2 study.

Palatin Technologies announced the adjournment of its 2021 Annual Meeting of Stockholders, initially held on June 8 and adjourned to July 8, now rescheduled for August 6. This adjournment is to solicit more proxies for an increase in authorized common stock from 300 million to 400 million shares. Approximately 71% of shares voted supported the proposal, but this was insufficient for approval. The Board believes this increase is vital for capital access to advance development programs and explore strategic opportunities. Stockholders are encouraged to vote before the new meeting date.

Palatin Technologies (NYSE American: PTN) has completed a favorable End-of-Phase 2 meeting with the FDA regarding PL9643 for treating dry eye disease (DED). The FDA and Palatin agreed on key elements for a pivotal Phase 3 clinical program, including study design and patient population. The Phase 3 study is set to begin in Q4 2021, with data expected in H2 2022 and a potential NDA submission in H2 2023. Previous Phase 2 results showed significant improvement in DED symptoms with no safety concerns.

Palatin Technologies, Inc. (NYSE American: PTN) has appointed three key executives to strengthen its leadership team. Michael B. Raizman, M.D. is now Chief Medical Officer, James E. Hattersley is Senior Vice President of Business Development, and J. Don Wang, Ph.D. is Vice President of Product Development. These appointments aim to enhance Palatin's capabilities in advancing its inflammatory and autoimmune programs. The new executives bring extensive experience in medical, business development, and product research, expected to aid the company in navigating market challenges effectively.

Palatin Technologies (PTN) announced the adjournment of its 2021 Annual Meeting of Stockholders from June 8 to July 8, 2021, to gather more proxies for Proposal 3, which seeks to increase the authorized common stock from 300 million to 400 million shares. Currently, approximately 69% of votes on Proposal 3 support the measure, but it lacks an absolute majority. The Board believes this increase is necessary for future flexibility and potential strategic opportunities. Shares must be voted before July 7, 2021, 11:59 PM EDT to be counted.

Palatin (PTN) reported third-quarter results for the period ending March 31, 2021, showing significant growth across its product Vyleesi, with gross sales increasing by 89% and net revenue rising by 154% compared to the previous quarter. The company plans to initiate a Phase 3 trial for PL9643 in dry eye disease and a Phase 2 study for PL8177 in ulcerative colitis, both expected in the second half of 2021. As of March 31, 2021, Palatin held $68.6 million in cash. Despite a net loss of $5.7 million, the company highlighted improving prescription trends and insurance coverage, boosting optimism moving forward.

Palatin Technologies, Inc. (NYSE American: PTN) announced a KOL webinar focusing on melanocortin agonists for ocular indications, particularly PL9643 for dry eye disease (DED). Scheduled for May 21, 2021, the webinar will feature experts discussing the biological underpinnings and clinical development of PL9643. A Phase 3 study for PL9643 is anticipated in the latter half of 2021. The event aims to showcase the company's advancements in treating eye inflammation and highlight the unmet medical needs in this field.