Welcome to our dedicated page for Palatin Tech news (Ticker: PTN), a resource for investors and traders seeking the latest updates and insights on Palatin Tech stock.
Palatin Technologies, Inc. (PTN) generates a steady flow of news as a biopharmaceutical company centered on melanocortin receptor–based therapeutics. News coverage for PTN often highlights updates on its obesity, ocular, and retinal programs, as well as financing events and stock listing developments. Investors and followers can use this page to review how Palatin’s scientific, clinical, and corporate milestones evolve over time.
Recent press releases have focused on obesity program progress, including preclinical and clinical data for the oral MC4R agonist PL7737 and next-generation peptide MC4R agonists. Palatin has reported robust weight loss and favorable safety in preclinical models, Phase 2 data on co-administration of an MC4R agonist with tirzepatide in obese patients, and regulatory designations such as Orphan Drug status for PL7737 in LEPR deficiency–related obesity. These updates provide insight into the company’s efforts to develop mechanism-based obesity therapies.
Palatin news also covers its ocular and retinal pipeline. Releases describe Phase 3 MELODY-1 data for PL9643 in dry eye disease, including responder analyses showing complete symptom resolution across multiple endpoints, and preclinical findings for PL9654 and PL9655 in diabetic retinopathy that demonstrate inflammation resolution, vascular stabilization, and neuroprotection. Announcements related to the company’s collaboration with Boehringer Ingelheim for retinal diseases further illustrate how Palatin seeks to advance its melanocortin platform through partnerships.
On the corporate side, PTN news items detail public offerings, warrant structures, and exchange listing status, including NYSE American delisting proceedings, trading on OTC markets, a 1-for-50 reverse stock split, and the subsequent resumption of trading on NYSE American. For readers tracking PTN, this news feed brings together scientific presentations, clinical trial readouts, collaboration agreements, and capital markets activity in one place, making it easier to follow Palatin’s development trajectory and key disclosures.
Palatin Technologies announced the initiation of a Phase 2b clinical trial, known as the BREAKOUT Study, for bremelanotide in treating diabetic kidney disease. This study aims to enroll up to 45 subjects and evaluates the effectiveness of bremelanotide combined with RAAS inhibition therapy. The primary endpoint is a 50% reduction in urine protein/creatinine (UP/Cr) ratio after six months. Patient dosing begins in January 2023, with expected completion of enrollment by Q3 2023 and topline data by Q1 2024. This clinical program marks Palatin’s third clinical initiative utilizing melanocortin agonists, focusing on addressing diabetic nephropathy, a significant cause of renal disease.
Palatin Technologies (PTN) has secured approximately $4.7 million in non-dilutive funding through New Jersey's Net Operating Loss (NOL) Program. This program enables qualified technology companies to convert state operating losses into cash. To date, Palatin has received about $18 million from this program. CFO Stephen T. Wills expressed gratitude for the support from the NJ Economic Development Authority, highlighting the funding's role in advancing drug development efforts. Palatin focuses on creating first-in-class medicines targeting the melanocortin receptor system, aiming to address significant unmet medical needs.
Palatin Technologies (PTN) announced the publication of a study in Frontiers in Immunology highlighting the therapeutic effects of PL-8177 on inflammatory conditions, including arthritis. Conducted with The William Harvey Research Institute and Queen Mary University in London, the study confirmed PL-8177's potential as a melanocortin receptor 1 agonist, demonstrating anti-inflammatory properties in rodent models. The ongoing Phase 2 clinical trial for PL-8177 in ulcerative colitis is set for interim assessment in Q1 2023, with topline data expected by Q2 2023, signifying promising advancements in treating chronic inflammatory diseases.
Palatin Technologies (PTN) disclosed preliminary sales results for Vyleesi® for the fiscal second quarter ended December 31, 2022. The company reported a 15.4% increase in net product revenue, totaling $1.0 million, and a striking 1,290% increase compared to the same quarter in 2021. Gross product sales reached $2.6 million, a 238% increase year-over-year. Additionally, prescriptions dispensed rose by 11.5% quarter-over-quarter, and 134% year-over-year. While management is optimistic about growth, the preliminary nature of the data could lead to significant adjustments.
Palatin Technologies reported positive interim results from its Phase 3 study of PL9643 for dry eye disease, with recommendations to increase patient enrollment to 350. The company also commenced a Phase 2 study for PL8177 in ulcerative colitis, expecting interim results in early 2023. Vyleesi's net revenue climbed 13% with a 17% increase in prescriptions from the previous quarter. Despite a net loss of $8.3 million for the first quarter ended September 30, 2022, cash reserves were $21.2 million, bolstered by a recent $10 million equity offering.
Palatin Technologies, Inc. (NYSE American: PTN) is set to release its first quarter fiscal year 2023 operating results on November 14, 2022, before market open. A conference call will follow at 11:00 a.m. ET for a review of the results and updates on development programs. The press release will be available at 7:30 a.m. ET.
Investors can access the audio webcast through Palatin's website. The company is focused on developing first-in-class medicines for significant unmet medical needs.
On October 31, 2022, Palatin Technologies (NYSE: PTN) announced a definitive agreement to issue 1,818,182 shares of common stock and warrants to purchase an equal number of shares, priced at $5.50 each. The offering, expected to close by November 2, 2022, is projected to generate approximately $10 million in gross proceeds. Funds will be allocated for general corporate purposes. The offering is conducted under a shelf registration statement filed with the SEC, ensuring compliance and market readiness.
Palatin Technologies, Inc. (NYSE American: PTN) announced the presentation of preclinical and human pharmacokinetic data for PL8177 at the American College of Gastroenterology meeting. The data demonstrated efficacy in animal models of ulcerative colitis, showing that oral PL8177 reduces colonic inflammation without systemic absorption. PL8177, a melanocortin receptor agonist, is currently being evaluated in a Phase 2 trial with interim results expected in early 2023. This research highlights the potential of PL8177 as a safer alternative to traditional immunosuppressive therapies.
Palatin Technologies (NYSE American: PTN) has initiated the PL8177-205 Phase 2 clinical study, enrolling its first patient. This study evaluates PL8177, an oral melanocortin-1 receptor agonist, as a potential treatment for ulcerative colitis (UC), particularly before immunosuppressive therapies. The primary endpoint is the Mayo Endoscopic Subscore, assessing colon mucosa disease levels. Interim data is expected in Q1 2023, with topline results anticipated in Q3 2023. PL8177 aims to address the unmet needs of the estimated 1 million UC patients in the U.S.
Palatin Technologies (NYSE: PTN) announced the publication of a study showcasing the effects of bremelanotide (Vyleesi) on sexual desire in women with hypoactive sexual desire disorder (HSDD). The double-blinded, placebo-controlled trial demonstrated that bremelanotide significantly increased sexual desire for up to 24 hours post-administration (P ≤ 0.01). This research correlates imaging data with increased sexual desire and enhances understanding of Vyleesi's mechanism of action. The study was funded by AMAG Pharmaceuticals and UK health institutions and is registered under NCT04179734.