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 develops biopharmaceutical product candidates based on molecules that modulate the melanocortin receptor system. Company news centers on its melanocortin-based obesity programs, including oral small-molecule and peptide MC4R agonists, with focus areas that include hypothalamic obesity and Prader-Willi syndrome.
Recurring updates also cover ocular and retinal disease assets, including PL9643 for dry eye disease and PL9654 and PL9655 for diabetic retinopathy, along with research collaborations, sublicensing agreements, public offerings, reverse-stock-split actions, exchange trading status and financial results.
Palatin Technologies (PTN) has received a delisting notice from NYSE American due to its low stock price, resulting in immediate suspension of trading on the exchange. The company's shares will transition to trading on the OTC Pink Market under the symbol "PTNT" starting May 8, 2025.
The company plans to appeal the delisting decision by the deadline of May 14, 2025, though success is not guaranteed. CEO Carl Spana expressed disappointment but affirmed the company's commitment to advancing their business plan and increasing stockholder value. Palatin Technologies focuses on developing first-in-class medicines targeting the melanocortin receptor system.
Palatin Technologies (NYSE American: PTN) presented new preclinical data for PL9588, their novel melanocortin receptor agonist, at the 2025 ARVO Annual Meeting. The data demonstrates PL9588's potential as a dual-action glaucoma therapy that both reduces intraocular pressure (IOP) and provides neuroprotection.
Key findings show that PL9588 increases fluid movement through the trabecular meshwork (p0.05) and reduces retinal cell stress/death by ~25% in damaged retinas (p<0.05). The compound also decreased retinal ganglion cell death in an ischemia/reperfusion model (p<0.0001).The global glaucoma market, valued at $5.71 billion in 2021, is projected to reach $9.77 billion by 2030. Glaucoma affects approximately 79.6 million people worldwide (2020) and is a leading cause of preventable vision loss.
Palatin Technologies announced breakthrough results from its Phase 3 MELODY-1 clinical trial for PL9643 in treating dry eye disease (DED). The drug achieved statistically significant complete symptom resolution across multiple endpoints - a first among dry eye therapies.
Key highlights:
- 6 out of 13 symptom endpoints showed significantly higher patient recovery with PL9643 vs placebo
- Symptom improvement started at week 2 and continued through week 12
- Treatment demonstrated better results than any FDA-approved DED therapy
- The drug showed excellent safety and tolerability
The company plans to conduct two more Phase 3 studies (MELODY-2 and MELODY-3) pending collaboration and funding. The dry eye disease market is projected to grow from $6.11 billion in 2024 to $7.46 billion by 2029. With 38 million Americans affected by DED but only 10% receiving prescription treatment, PL9643 represents a significant market opportunity.
Palatin Technologies (NYSE American: PTN) has announced positive appetite suppression results from its BMT-801 Phase 2 obesity study evaluating the co-administration of melanocortin 4 receptor (MC4R) agonist bremelanotide with GLP-1/GIP tirzepatide.
Key findings show significant improvements in appetite suppression across all treatment arms:
- Bremelanotide + tirzepatide: 71% increase
- Tirzepatide only: 73% increase
- Bremelanotide only: 71% increase
Notably, low-dose bremelanotide demonstrated effectiveness in preventing weight regain after tirzepatide discontinuation, while patients on tirzepatide alone regained over 50% of lost weight within two weeks of stopping treatment. The company plans to advance its next-generation MC4R agonists pipeline, with IND filings expected by Q4 2025 and initial clinical data in H1 2026.
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) announced on April 10, 2024, that NYSE American has initiated delisting proceedings for the company's common stock. The decision comes after PTN failed to regain compliance with stockholders' equity requirements under Sections 1003(a)(i), (ii), and (iii) of the NYSE American Company Guide by the end of its 18-month compliance period on April 10, 2025.
The company has until April 25, 2025, to request a review of the delisting determination by the Listings Qualifications Panel. PTN has confirmed its intention to appeal the decision and expects its common stock to continue trading on NYSE American during the appeal process. While the company is working to regain compliance, there is no guarantee of success before any hearing occurs.
Palatin Technologies (NYSE American: PTN) announced positive Phase 2b BREAKOUT study results for their melanocortin agonist treatment in Type 2 diabetic nephropathy patients. The six-month open-label study demonstrated significant improvements in kidney function:
- 71% of patients achieved >30% reduction in urine protein to creatinine ratio (UP/Cr)
- 71% showed improved or stabilized estimated glomerular filtration rate (eGFR)
- 37.5% experienced increased urinary VEGF levels
- 36% demonstrated reduced urinary synaptopodin loss
The study enrolled 16 patients with confirmed Type 2 diabetic nephropathy and >1000 mg/gm UP/Cr ratio, with 8 completing the six-month treatment. The treatment involved subcutaneous bremelanotide administration twice daily alongside maximum tolerated RAAS inhibition therapy.