What is Palatin Tech's earnings per share (EPS)?

Palatin Tech (PTN) reported diluted earnings per share of $-32.15 for fiscal year 2025. This represents a 68.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Palatin Tech Financials

PTN

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE June

This page shows Palatin Tech (PTN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PTN FY2025 2026-05-13

PTN remains a development-stage business, where R&D-led cash burn dominates economics and outside capital carries the operation.

From FY2022 to FY2024, operating loss narrowed from -$36.6M to -$22.5M, yet operating cash outflow stayed near -$30M. That gap says the reported improvement was not a comparable reduction in cash needed to keep the business running day to day.

In FY2024, R&D spending of $22.4M was roughly five times revenue of $4.5M, so current sales are too small to support the cost structure. The very high gross margin therefore matters less than the fact that the company is still funded primarily as a research effort, not by product throughput.

By FY2024, cash of $9.5M was essentially matched by current liabilities of $9.7M, leaving little near-term balance-sheet slack. Between FY2023 and FY2024, financing inflows totaled $31.3M, yet cash still ended lower, showing how quickly fresh capital is absorbed by the operating burn rather than building a durable liquidity cushion.

Financial Health Signals

Financial Profile 13/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Palatin Tech's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Palatin Tech's revenue declined 100% year-over-year, from $4.5M to $0. This contraction results in a growth score of 0/100.

Leverage

Palatin Tech carries a low D/E ratio of -1.68, meaning only $-1.68 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 77/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Palatin Tech's current ratio of 0.36 is below the typical benchmark, resulting in a score of 1/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Key Financial Metrics

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Earnings & Revenue

Revenue

YoY-100.0%

Palatin Tech generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

EBITDA

N/A

Net Income

N/A

EPS (Diluted)

$-32.15

YoY+68.2%

Palatin Tech earned $-32.15 per diluted share (EPS) in fiscal year 2025. This represents an increase of 68.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$2.6M

YoY-73.1%

5Y CAGR-50.1%

10Y CAGR-21.1%

Palatin Tech held $2.6M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

929,597

YoY+159.3%

Palatin Tech had 929,597 shares outstanding in fiscal year 2025. This represents an increase of 159.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

$14.9M

YoY-33.5%

5Y CAGR+1.3%

10Y CAGR-4.9%

Palatin Tech invested $14.9M in research and development in fiscal year 2025. This represents a decrease of 33.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

YoY-100.0%

Palatin Tech invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

PTN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$0-100.0%	$4.5M-7.5%	$4.9M+230.5%	$1.5M	N/A	$118K
Cost of Revenue	N/A	$98K-76.7%	$418K+92.4%	$218K+47.1%	$148K	$0
Gross Profit	N/A	$4.4M-1.0%	$4.4M+254.6%	$1.3M+471.8%	-$336K-385.1%	$118K
R&D Expenses	$14.9M-33.5%	$22.4M-1.0%	$22.6M+6.1%	$21.3M+65.0%	$12.9M-7.4%	$14.0M
SG&A Expenses	$7.8M-36.4%	$12.3M-19.8%	$15.3M-7.4%	$16.5M-4.8%	$17.3M+77.5%	$9.8M
Operating Income	N/A	-$22.5M+30.7%	-$32.5M+11.3%	-$36.6M-9.6%	-$33.4M-41.4%	-$23.6M
Interest Expense	$15K-12.2%	$17K-14.5%	$20K-32.6%	$30K+26.6%	$23K+16.4%	$20K
Income Tax	N/A	$0+100.0%	-$4.7M	$0	N/A	$0
Net Income	N/A	-$29.7M-23.7%	-$24.0M+33.6%	-$36.2M-7.7%	-$33.6M-49.8%	-$22.4M
EPS (Diluted)	$-32.15+68.2%	$-101.16	N/A	N/A	N/A	$-0.10

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$3.9M+3278.8%	$116K-98.7%	$8.8M	N/A	$0	N/A	$0	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$3.5M-18.6%	$4.3M+71.0%	$2.5M	N/A	$3.8M+9.5%	$3.4M-40.3%	$5.7M	N/A
SG&A Expenses	$2.0M-36.5%	$3.1M+88.2%	$1.7M	N/A	$1.5M-12.4%	$1.7M-16.8%	$2.0M	N/A
Operating Income	-$1.6M+78.4%	-$7.3M-257.2%	$4.7M	N/A	-$4.8M-84.3%	-$2.6M+66.4%	-$7.8M	N/A
Interest Expense	$1K+154.6%	$498-75.1%	$2K	N/A	$2K-52.8%	$4K-36.0%	$6K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.4M+80.3%	-$7.3M-255.3%	$4.7M	N/A	-$4.8M-97.0%	-$2.4M+68.8%	-$7.8M	N/A
EPS (Diluted)	$-0.37+87.1%	$-2.86-167.1%	$4.26	N/A	$-9.13-54.2%	$-5.92+70.0%	$-19.71	N/A

PTN Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.3M-69.6%	$10.7M-40.1%	$17.9M-50.3%	$36.1M-46.4%	$67.3M-20.9%	$85.1M
Current Assets	$2.9M-70.1%	$9.8M-40.1%	$16.3M-52.8%	$34.6M-47.5%	$65.9M-21.2%	$83.6M
Cash & Equivalents	$2.6M-73.1%	$9.5M-13.2%	$11.0M-63.3%	$29.9M-50.2%	$60.1M-27.5%	$82.9M
Inventory	N/A	$0-100.0%	$526K-44.3%	$944K-18.7%	$1.2M	$0
Accounts Receivable	$0	$0-100.0%	$2.9M+63.8%	$1.8M+12.6%	$1.6M	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$8.0M-25.9%	$10.9M-44.8%	$19.7M-0.7%	$19.8M+12.2%	$17.6M+261.5%	$4.9M
Current Liabilities	$8.0M-17.1%	$9.7M-36.2%	$15.1M-6.9%	$16.3M+54.7%	$10.5M+167.6%	$3.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$4.8M-4184.5%	-$111K+94.4%	-$2.0M-112.2%	$16.3M-67.2%	$49.7M-38.1%	$80.2M
Retained Earnings	-$459.1M-3.9%	-$441.8M-7.2%	-$412.0M-6.2%	-$388.0M-10.3%	-$351.8M-10.6%	-$318.2M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$13.2M-26.2%	$17.9M+108.1%	$8.6M+163.7%	$3.3M-12.4%	$3.7M-13.5%	$4.3M+26.2%	$3.4M-68.2%	$10.7M
Current Assets	$12.8M-26.8%	$17.5M+108.7%	$8.4M+186.7%	$2.9M-9.7%	$3.2M-11.9%	$3.7M+40.5%	$2.6M-73.3%	$9.8M
Cash & Equivalents	$10.2M-29.8%	$14.5M+1037.1%	$1.3M-50.4%	$2.6M+1.7%	$2.5M-26.2%	$3.4M+43.3%	$2.4M-75.0%	$9.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Accounts Receivable	N/A	$1.6M-76.2%	$6.9M	$0	N/A	N/A	N/A	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.6M-59.2%	$6.5M-21.4%	$8.2M+2.2%	$8.0M-20.5%	$10.1M-5.4%	$10.7M-3.7%	$11.1M+2.3%	$10.9M
Current Liabilities	$2.5M-60.0%	$6.3M-22.9%	$8.2M+2.6%	$8.0M-20.3%	$10.0M+5.1%	$9.6M-3.1%	$9.9M+2.1%	$9.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$10.6M-7.6%	$11.5M+2792.5%	$396K+108.3%	-$4.8M+25.2%	-$6.4M-0.1%	-$6.4M+17.0%	-$7.7M-6793.1%	-$111K
Retained Earnings	-$463.1M-0.3%	-$461.7M-1.6%	-$454.4M+1.0%	-$459.1M-0.5%	-$456.8M-1.1%	-$452.0M-0.5%	-$449.6M-1.8%	-$441.8M

PTN Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	N/A	-$31.5M-7.5%	-$29.3M+2.2%	-$29.9M-31855.8%	-$94K-100.2%	$41.3M
Capital Expenditures	$0-100.0%	$43K-90.2%	$434K+66.0%	$261K+4467.9%	$6K-90.9%	$63K
Free Cash Flow	N/A	-$31.5M-6.1%	-$29.7M+1.6%	-$30.2M-30278.5%	-$99K-100.2%	$41.3M
Investing Cash Flow	$3.1M-74.9%	$12.5M+463.3%	-$3.4M-1211.1%	-$261K-4467.9%	-$6K+90.9%	-$63K
Financing Cash Flow	$11.2M-45.4%	$20.5M+91.2%	$10.7M+58449.9%	$18K+100.1%	-$22.6M-1078.5%	-$1.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	-$4.4M+8.1%	-$4.8M-196.8%	-$1.6M+60.4%	-$4.1M+23.6%	-$5.4M-10.5%	-$4.8M+30.9%	-$7.0M-8.4%	-$6.5M
Capital Expenditures	$38K	N/A	N/A	$0	$0	N/A	N/A	$5K
Free Cash Flow	-$4.5M	N/A	N/A	-$4.1M+23.6%	-$5.4M	N/A	N/A	-$6.5M
Investing Cash Flow	-$38K	N/A	N/A	$630K	$0-100.0%	$2.5M	$0+100.0%	-$5K
Financing Cash Flow	$139K-99.2%	$18.0M+5391.4%	$328K-90.6%	$3.5M-21.4%	$4.5M+31.9%	$3.4M+2761.7%	-$127K-102.1%	$6.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PTN Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	97.8%+6.5pp	91.4%+6.2pp	85.2%	N/A	100.0%
Operating Margin	N/A	-501.0%+167.7pp	-668.8%+1822.9pp	-2491.6%	N/A	-20007.6%
Net Margin	N/A	-662.3%-167.0pp	-495.2%+1969.8pp	-2465.1%	N/A	-19006.9%
Return on Equity	N/A	N/A	N/A	-222.5%-154.8pp	-67.7%-39.7pp	-28.0%
Return on Assets	N/A	-276.8%-142.8pp	-134.0%-33.6pp	-100.4%-50.4pp	-49.9%-23.5pp	-26.4%
Current Ratio	0.36-0.6	1.01-0.1	1.08-1.0	2.13-4.1	6.27-15.0	21.28
Debt-to-Equity	-1.68+95.7	-97.35-87.4	-9.93-11.1	1.22+0.9	0.36+0.3	0.06
FCF Margin	N/A	-701.6%-89.6pp	-612.0%+1443.5pp	-2055.5%	N/A	34972.4%

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-40.3%+6275.4pp	-6315.8%-6368.5pp	52.8%	N/A	N/A	N/A	N/A	N/A
Net Margin	-36.5%+6223.5pp	-6260.0%-6313.0pp	53.0%	N/A	N/A	N/A	N/A	N/A
Return on Equity	-13.5%+49.8pp	-63.3%-1243.4pp	1180.0%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-10.8%+29.7pp	-40.5%-94.8pp	54.3%	N/A	-129.0%-72.4pp	-56.7%+172.4pp	-229.1%	N/A
Current Ratio	5.04+2.3	2.76+1.7	1.02+0.7	0.36+0.0	0.32-0.1	0.38+0.1	0.26-0.7	1.01
Debt-to-Equity	0.25-0.3	0.56-20.2	20.73+22.4	-1.68-0.1	-1.58+0.1	-1.68-0.2	-1.44+95.9	-97.35
FCF Margin	-113.6%	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$4.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.36), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is Palatin Tech's annual revenue?

Palatin Tech (PTN) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Palatin Tech's revenue growing?

Palatin Tech (PTN) revenue declined by 100% year-over-year, from $4.5M to $0 in fiscal year 2025.

What are Palatin Tech's total assets?

Palatin Tech (PTN) had $3.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Palatin Tech's capital expenditures?

Palatin Tech (PTN) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Palatin Tech spend on research and development?

Palatin Tech (PTN) invested $14.9M in research and development during fiscal year 2025.

How many shares does Palatin Tech have outstanding?

Palatin Tech (PTN) had 929,597 shares outstanding as of fiscal year 2025.

What is Palatin Tech's current ratio?

Palatin Tech (PTN) had a current ratio of 0.36 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Palatin Tech's debt-to-equity ratio?

Palatin Tech (PTN) had a debt-to-equity ratio of -1.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Why is Palatin Tech's debt-to-equity ratio negative or unusual?

Palatin Tech (PTN) has negative shareholder equity of -$4.8M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

How financially healthy is Palatin Tech?

Palatin Tech (PTN) scores 13 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.