Palatin Appeals NYSE American Notice of Delisting
Palatin Technologies (NYSE American: PTN) has formally appealed NYSE Regulation's determination to delist its common stock after failing to meet stockholders' equity requirements by April 10, 2025. The company's stock will continue trading during the 60-to-90-day appeal process.
To regain compliance, Palatin is implementing a financial strengthening plan that includes:
- Accelerating out-licensing discussions
- Advancing equity financing negotiations
- Exploring strategic funding opportunities
CEO Carl Spana expressed confidence in the company's ability to address listing requirements, though success of the appeal cannot be guaranteed. The final decision on whether PTN remains listed will be determined by the NYSE Listings Qualifications Panel.
Palatin Technologies (NYSE American: PTN) ha formalmente presentato ricorso contro la decisione della NYSE Regulation di delistare le sue azioni ordinarie dopo non aver soddisfatto i requisiti di patrimonio netto degli azionisti entro il 10 aprile 2025. Le azioni della società continueranno a essere scambiate durante il processo di ricorso di 60-90 giorni.
Per recuperare la conformità, Palatin sta attuando un piano di rafforzamento finanziario che include:
- Accelerare le discussioni per la concessione in licenza
- Avanzare le negoziazioni per il finanziamento azionario
- Esplorare opportunità di finanziamento strategico
Il CEO Carl Spana ha espresso fiducia nella capacità dell'azienda di affrontare i requisiti di quotazione, sebbene il successo del ricorso non possa essere garantito. La decisione finale su se PTN rimarrà quotata sarà determinata dal NYSE Listings Qualifications Panel.
Palatin Technologies (NYSE American: PTN) ha presentado formalmente un recurso contra la determinación de la regulación de la NYSE de deslistar sus acciones ordinarias después de no cumplir con los requisitos de patrimonio de los accionistas antes del 10 de abril de 2025. Las acciones de la compañía continuarán negociándose durante el proceso de apelación de 60 a 90 días.
Para recuperar la conformidad, Palatin está implementando un plan de fortalecimiento financiero que incluye:
- Acelerar las discusiones sobre licencias
- Avanzar en las negociaciones de financiamiento de capital
- Explorar oportunidades de financiamiento estratégico
El CEO Carl Spana expresó confianza en la capacidad de la empresa para abordar los requisitos de cotización, aunque el éxito de la apelación no se puede garantizar. La decisión final sobre si PTN seguirá cotizando será determinada por el Panel de Calificaciones de Listado de la NYSE.
팔라틴 테크놀로지스 (NYSE American: PTN)는 2025년 4월 10일까지 주주 자본 요건을 충족하지 못한 후 NYSE 규제의 상장 폐지 결정에 정식으로 항소했습니다. 회사의 주식은 60~90일의 항소 과정 동안 계속 거래됩니다.
규정을 준수하기 위해 팔라틴은 다음을 포함하는 재정 강화 계획을 시행하고 있습니다:
- 라이센스 아웃 논의 가속화
- 주식 자금 조달 협상 진행
- 전략적 자금 조달 기회 탐색
CEO 칼 스파나는 회사가 상장 요건을 충족할 수 있는 능력에 대한 자신감을 표명했지만, 항소의 성공은 보장할 수 없다고 말했습니다. PTN이 계속 상장될지 여부에 대한 최종 결정은 NYSE 상장 자격 위원회에 의해 결정됩니다.
Palatin Technologies (NYSE American: PTN) a officiellement fait appel de la décision de la réglementation de la NYSE de radier ses actions ordinaires après ne pas avoir satisfait aux exigences de fonds propres des actionnaires avant le 10 avril 2025. Les actions de la société continueront à être négociées pendant le processus d'appel de 60 à 90 jours.
Pour retrouver la conformité, Palatin met en œuvre un plan de renforcement financier qui comprend:
- Accélérer les discussions de licence
- Avancer dans les négociations de financement par actions
- Explorer des opportunités de financement stratégique
Le PDG Carl Spana a exprimé sa confiance dans la capacité de l'entreprise à répondre aux exigences de cotation, bien que le succès de l'appel ne puisse être garanti. La décision finale sur le maintien de PTN en tant que société cotée sera prise par le panel des qualifications de cotation de la NYSE.
Palatin Technologies (NYSE American: PTN) hat formell gegen die Entscheidung der NYSE Regulation Berufung eingelegt, seine Stammaktien nach dem Versäumnis, die Eigenkapitalanforderungen bis zum 10. April 2025 zu erfüllen, von der Börse zu nehmen. Die Aktien des Unternehmens werden während des 60- bis 90-tägigen Berufungsverfahrens weiterhin gehandelt.
Um die Konformität wiederherzustellen, implementiert Palatin einen Finanzstärkungsplan, der Folgendes umfasst:
- Beschleunigung der Lizenzverhandlungen
- Fortschritt bei den Verhandlungen über Eigenkapitalfinanzierung
- Erkundung strategischer Finanzierungsmöglichkeiten
CEO Carl Spana äußerte Vertrauen in die Fähigkeit des Unternehmens, die Listing-Anforderungen zu erfüllen, obwohl der Erfolg der Berufung nicht garantiert werden kann. Die endgültige Entscheidung darüber, ob PTN gelistet bleibt, wird vom NYSE Listings Qualifications Panel getroffen.
- Stock continues trading during appeal process
- Company actively pursuing multiple financial strengthening initiatives
- Failed to meet NYSE American stockholders' equity requirements
- Risk of delisting from NYSE American exchange
- Maximum 18-month compliance period expired without meeting requirements
- No guarantee of successful appeal outcome
Insights
Palatin's NYSE American delisting notice represents a significant red flag for investors. The exchange's decision came after the company failed to meet multiple stockholders' equity requirements despite having the maximum 18-month compliance period which expired April 10.
This delisting risk directly threatens PTN's market accessibility, liquidity, and institutional investment viability. With a micro-cap valuation of just
While management outlines three potential remediation strategies - accelerating out-licensing discussions, advancing equity financing negotiations, and exploring strategic funding - these are merely exploratory activities without guaranteed outcomes or timelines. The company's own admission that "there can be no assurance the appeal will be successful" underscores the precarious position.
The 60-90 day appeal window provides breathing room, but Palatin must demonstrate substantial financial improvement quickly. Companies facing delisting often struggle to secure favorable financing terms, creating a potential negative spiral. The failure to resolve equity deficiencies during the previous 18-month window suggests deep-rooted financial challenges that may not be easily overcome through the outlined strategies.
- Company working aggressively to regain compliance
- Common stock to continue to trade on NYSE American during the appeal process
NYSE Regulation determined the Company was unable to demonstrate that it had regained compliance with Sections 1003(a)(i), (ii) and (iii), related to stockholders' equity requirements, by the end of the maximum 18-month compliance plan period, which expired on April 10, 2025.
Palatin's common stock will continue to trade on the NYSE American during the appeal process, which is expected to last 60-to-90-days. A final decision from the NYSE Listings Qualifications Panel will determine whether the stock remains listed or is delisted.
Palatin is actively implementing a plan to strengthen its financial position and regain compliance, including:
- Accelerating out-licensing discussions across key development programs
- Advancing equity financing negotiations
- Exploring strategic funding opportunities
"We are moving quickly and deliberately to address the listing requirements," said Carl Spana, Ph.D., President and Chief Executive Officer of Palatin. "We believe the actions underway can restore compliance and create a stronger foundation for growth."
There can be no assurance the appeal will be successful. However, the Company is optimistic it will meet the listing requirement and remains committed to delivering value for its shareholders.
Forward-looking Statements
Statements in this press release that are not historical facts, including statements about future expectations of Palatin Technologies, Inc., such as statements about the Company's appeal of the delisting determination or the Company's expectation that it may be able to regain compliance, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the Company's actual results to be materially different from its historical results or from any results expressed or implied by such forward-looking statements.
Palatin Technologies® is a registered trademark of Palatin Technologies, Inc.
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SOURCE Palatin Technologies, Inc.
FAQ
Why is Palatin Technologies (PTN) facing delisting from NYSE American?
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