Palatin Tech - PTN STOCK NEWS

Palatin Technologies, Inc. (PTN) reported a net loss of $3.9 million for Q1 2020, down from $4.5 million in Q1 2019. Vyleesi® gross sales reached $809,100, with recognized revenue of $(288,560). Total operating expenses decreased to $3.7 million. The company had $86.6 million in cash and equivalents as of September 30, 2020. Palatin regained North American rights to Vyleesi, enhancing commercial activities and initiating a targeted marketing campaign. Upcoming data readout for PL9643 Phase 2 clinical trial is expected in December 2020.

Palatin Technologies, Inc. (NYSE American: PTN) will announce its first quarter fiscal year 2021 operating results on November 17, 2020, prior to market opening. A conference call led by executive management will follow at 11:00 a.m. ET, covering operational updates and program developments. The results will be reported via a press release at 7:30 a.m. ET the same day. Audio webcasts for both the call and the replay will be accessible on Palatin's website for investors.

Palatin Technologies (PTN) reported a net loss of $(7.3) million for Q4 FY2020, reversing from a net income of $52.2 million in Q4 FY2019. The total net loss for the fiscal year was $(22.4) million, compared to $35.8 million net income in FY2019. The decline is attributed to a lack of license revenue recognized from AMAG, which was $60.3 million in the previous year. As of June 30, 2020, Palatin holds $82.9 million in cash and is debt-free. The Company plans to advance its clinical programs, including PL9643 for dry eye disease, with topline data expected in Q4 2020.

Palatin Technologies (PTN) will announce its fourth quarter and fiscal year end 2020 operating results on September 28, 2020, before the U.S. market opens. A conference call and live audio webcast will follow at 11:00 a.m. ET on the same day, where management will discuss the operating results and provide updates on ongoing programs. Financial results and access details will be available through Palatin's website, ensuring broad accessibility for investors and stakeholders.

Palatin Technologies, Inc. (NYSE American: PTN) announced its participation in the H.C. Wainwright & Co. 22nd Annual Global Investment Conference on September 14, 2020, at 4:00 p.m. EDT, through a virtual presentation. Carl Spana, President and CEO, will discuss the company's corporate and development updates. Interested parties can access the webcast via the official website or by following the provided link. The presentation will be available for replay for 90 days.

Palatin Technologies, Inc. (NYSE American: PTN) participated in Canaccord Genuity's 40th Annual Growth Conference on August 13, 2020, engaging in a Fireside Chat hosted by John Newman. CEO Carl Spana and CFO Stephen T. Wills represented the company during the virtual event. The discussion focused on Palatin's specialized biopharmaceutical developments, particularly its first-in-class medicines targeting melanocortin and natriuretic peptide receptor systems. A webcast replay is available on the company's website for 90 days.

Palatin Technologies (NYSE American: PTN) announced the completion of patient enrollment for its Phase 2 study of PL9643 aimed at treating dry eye disease (DED). The study, which resumed enrollment after COVID-19 delays, aims to evaluate PL9643's efficacy and safety compared to a placebo. With data readout expected in Q4 2020, Palatin emphasizes the potential of PL9643 to offer a quick onset of efficacy and a favorable safety profile, addressing the needs of patients who struggle with existing therapies for DED.

Palatin Technologies (PTN) announced the mutual termination of its January 2017 license agreement with AMAG Pharmaceuticals, regaining North American rights to Vyleesi® (bremelanotide), the only FDA-approved treatment for hypoactive sexual desire disorder (HSDD) in premenopausal women. AMAG will pay Palatin $12 million at closing and $4.3 million on March 31, 2021. Palatin will take over Vyleesi's manufacturing and commercialization, ensuring uninterrupted patient access. The company aims to explore strategic partnerships to enhance Vyleesi's marketing, stressing its commitment to affordable access for women affected by HSDD.

Palatin Technologies (NYSE American: PTN) announced the development of PL8177 as a potential treatment for COVID-19 patients experiencing hypoxemic respiratory failure. The decision is based on positive preclinical results showing PL8177's efficacy in reducing inflammation and lung damage. The company plans to submit an IND application in Q3 2020 and initiate a Phase 2 trial in Q4 2020, following successful preclinical and Phase 1 studies. The trial will evaluate the effectiveness of PL8177 against a placebo in hospitalized adult patients with severe COVID-19 symptoms.