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Palatin Technologies, Inc. - PTN STOCK NEWS

Welcome to our dedicated page for Palatin Technologies news (Ticker: PTN), a resource for investors and traders seeking the latest updates and insights on Palatin Technologies stock.

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.

News

Palatin Announces Results of PL9643 MELODY-1 Pivotal Phase 3 Clinical Trial in Patients with Dry Eye Disease (DED)

Rhea-AI Summary
Palatin Technologies, Inc. (PTN) announces positive results from its PL9643 MELODY-1 pivotal Phase 3 clinical trial for dry eye disease. The trial met co-primary symptom endpoint with statistical significance. PL9643 showed superiority over vehicle in multiple symptom endpoints and demonstrated excellent safety. Future discussions with FDA are planned.
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Palatin Reports Second Quarter Fiscal Year 2024 Financial Results and Provides Corporate Update

Rhea-AI Summary
Palatin Technologies, Inc. focuses on developing its Melanocortin Receptor System Pipeline, with upcoming Phase 3 and Phase 2 clinical study results expected in 2024. The company completed an asset sale of Vyleesi for up to $171 million and raised $10 million through a Registered Direct Offering. Financially, Palatin reported increased revenue and gross product sales, offset by higher operating expenses and a net loss of $7.8 million for the quarter ended December 31, 2023.
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Palatin to Report Second Quarter Fiscal Year 2024 Results; Teleconference and Webcast to be held on February 15, 2024

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Palatin Technologies, Inc. (PTN) will release its Q2 fiscal year 2024 operating results on February 15, 2024, with a conference call and webcast to follow. The call will cover the company's results and ongoing programs.
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Palatin Announces Database Lock for PL9643 MELODY-1 Pivotal Phase 3 Clinical Trial in Patients with Dry Eye Disease (DED)

Rhea-AI Summary
Palatin Technologies, Inc. announced the database lock for its PL9643 MELODY-1 pivotal Phase 3 clinical trial evaluating the safety and efficacy of PL9643 versus vehicle in the treatment of dry eye disease. The top-line results are expected to be reported later in February. The trial is a multi-center, randomized, double–masked and vehicle–controlled study, that enrolled 575 patients at sites in the U.S. The Phase 3 program also includes the Phase 3 safety and efficacy study MELODY-2 and the open label MELODY-3 study, which are anticipated to commence patient enrollment in the second half of calendar year 2024.
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Palatin Announces Closing of $10 Million Registered Direct Offering

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Palatin Technologies, Inc. (PTN) closed a registered direct offering of 1,831,503 shares of common stock with gross proceeds of approximately $10 million. The company also issued warrants to purchase up to an aggregate of 1,831,503 shares at an exercise price of $5.46 per share. The net proceeds will be used for general corporate purposes. The offering was conducted pursuant to a shelf registration statement on Form S-3 and a prospectus supplement was filed with the SEC.
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Palatin Announces $10 Million Registered Direct Offering

Rhea-AI Summary
Palatin Technologies, Inc. (PTN) has entered into a definitive agreement for the issuance and sale of 1,831,503 shares of its common stock at a purchase price of $5.46 per share, along with warrants to purchase an additional 1,831,503 shares. The offering is expected to raise significant capital for the company's development of first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system.
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Palatin Provides Corporate Update and Highlights Strategic Priorities for Calendar Year 2024

Rhea-AI Summary
Palatin Technologies, Inc. (NYSE American: PTN) provided a corporate update, highlighted key calendar year 2023 accomplishments, and outlined anticipated calendar year 2024 clinical development milestones. The company is well-positioned for a pivotal and transformative year, focusing on DED, UC, obesity, and male sexual dysfunction. Topline data readouts for various clinical studies are expected in 2024. The company also completed an asset sale to Cosette Pharmaceuticals for up to $171 million in December 2023.
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Cosette Pharmaceuticals Acquires Vyleesi® (Bremelanotide Injection) from Palatin Technologies Inc.

Rhea-AI Summary
Cosette Pharmaceuticals, Inc. (PTN) has completed the acquisition of Vyleesi®, the only FDA-approved as-needed treatment for the approximately 6 million premenopausal women who suffer from Hypoactive Sexual Desire Disorder (HSDD). The acquisition adds another commercial stage, patent-protected product to Cosette’s rapidly expanding women’s health portfolio. Vyleesi® has experienced 8 consecutive quarters of double-digit prescription growth and includes 5 Orange Book listed patents with protection up to 2041.
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Palatin Completes Sale of Vyleesi® to Cosette Pharmaceuticals for up to $171 Million

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Palatin Technologies, Inc. (NYSE American: PTN) sells Vyleesi® to Cosette Pharmaceuticals for $12 million upfront and up to $159 million in sales-based milestones
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Palatin Receives Notice of Acceptance of the Listing Standards Compliance Plan from NYSE American

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Palatin Technologies, Inc. (NYSE American: PTN) has received approval for its plan to come into compliance with NYSE American's continued listing standards. The company must regain compliance by April 10, 2025, and is exploring funding avenues to achieve this.
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FAQ

What is the current stock price of Palatin Technologies (PTN)?

The current stock price of Palatin Technologies (PTN) is $0.93 as of November 19, 2024.

What is the market cap of Palatin Technologies (PTN)?

The market cap of Palatin Technologies (PTN) is approximately 17.9M.

What is Palatin Technologies' lead product?

Palatin Technologies' lead product is Vyleesi, a melanocortin receptor agonist for treating hypoactive sexual desire disorder (HSDD) in premenopausal women.

What are Palatin Technologies' main areas of focus?

Palatin focuses on developing first-in-class medicines for diseases with significant unmet medical needs, specifically targeting the melanocortin and natriuretic peptide receptor systems.

What is PL9643, and what is it used for?

PL9643 is a melanocortin receptor agonist developed by Palatin Technologies for treating dry eye disease (DED). It has shown significant efficacy and safety in Phase 3 clinical trials.

What other products are in Palatin Technologies' pipeline?

Palatin is developing several other products, including PL8177 for inflammatory bowel diseases and COVID-19, and PL3994 for treating cardiovascular diseases.

What recent financial highlights has Palatin Technologies announced?

Palatin announced a strong cash position as of their latest fiscal quarter, ensuring the funding of ongoing projects into the second half of 2024.

How does Palatin Technologies plan to maximize the commercial potential of its products?

Palatin plans to form marketing collaborations with industry leaders to maximize the commercial potential of its targeted, receptor-specific product candidates.

What are some recent achievements of Palatin Technologies?

Recent achievements include successful Phase 3 trial results for PL9643 in treating dry eye disease and the divestiture of Vyleesi to focus on their clinical pipeline.

What is the significance of melanocortin receptor agonists in Palatin's research?

Melanocortin receptor agonists, which Palatin specializes in, have effects on inflammation, immune responses, metabolism, food intake, and sexual function, making them significant for various treatments.

What partnerships has Palatin Technologies formed?

Palatin’s strategy includes forming collaborations with industry leaders to maximize the commercial potential of its products, though specific partners are not mentioned in the latest updates.

How can one learn more about Palatin Technologies?

For more information, visit Palatin's website at www.Palatin.com and follow them on Twitter at @PalatinTech.

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Palatin Technologies, Inc.

NYSE:PTN

PTN Rankings

#5319 Ranked by Market Cap
N/A Ranked by Dividends

PTN Stock Data

17.95M
18.86M
3.5%
7.88%
5.99%
Biotechnology
Pharmaceutical Preparations
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United States of America
CRANBURY