Palatin Tech Stock Price, News & Analysis

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.

Palatin Technologies (NYSE: PTN) announced positive results from its Phase 2 obesity study combining MC4R agonist bremelanotide with GLP-1/GIP tirzepatide. The 8-week treatment study met its primary endpoint with highly statistically significant results.

Key findings include:

• Co-administered group showed 4.4% weight reduction vs 1.6% for placebo (p<0.0001)
• 40% of co-administered patients achieved 5% weight reduction
• 27% reached 6% weight reduction
• 19% achieved 7% weight reduction

The study involved 113 patients, with 96 randomized across four treatment groups. Low-dose bremelanotide effectively stopped weight regain post-tirzepatide treatment. The company plans IND applications for next-generation MC4R long-acting peptides and oral small molecules in Q4 2025, with clinical data expected in 1H 2026.

Palatin Technologies (NYSE: PTN) has announced positive topline results from its Phase 2 study of PL8177, an oral melanocortin-1 receptor agonist, for treating ulcerative colitis (UC). The study demonstrated significant efficacy after eight weeks of treatment:

Key findings include:

• Clinical remission achieved in 33% of PL8177-treated patients vs 0% on placebo
• Clinical response shown in 78% of PL8177-treated patients vs 33% on placebo (p<0.005)
• Symptomatic remission reached in 56% of PL8177-treated patients vs 33% on placebo

The trial involved 12 patients (9 PL8177, 3 placebo) with active UC. The treatment demonstrated excellent safety with no adverse events reported. In patients with moderate disease affecting all three colon segments, 60% showed improvement across all segments, and 80% improved in two segments. The company is currently in licensing discussions with multiple pharmaceutical companies.

Palatin Technologies (NYSE American: PTN) has received FDA orphan drug designation for PL7737, an oral melanocortin-4 receptor (MC4R) agonist targeting obesity caused by leptin receptor (LEPR) deficiency. This rare genetic condition leads to severe early-onset obesity due to constant hunger from a young age.

The company plans to submit an IND in Q4 2025, with clinical data expected in 1H 2026. PL7737 could provide a more convenient alternative to the current treatment, which requires daily injections. The orphan drug designation offers benefits including tax credits, user fee exemptions, and potential seven-year market exclusivity after approval.

Additionally, Palatin will release topline data this month for two Phase 2 studies: BMT-801 (co-administration of MC4R bremelanotide + GLP-1/GIP tirzepatide for obesity) and PL8177 oral formulation for ulcerative colitis. The company is also exploring PL7737 for hypothalamic obesity with Phase 1 SAD/MAD studies planned for late 2025.

Palatin Technologies (PTN) announced financial results for Q2 FY2025 and provided key updates on its clinical programs. The company completed database lock for its Phase 2 obesity co-administration study combining MC4R agonist bremelanotide with GLP-1/GIP dual agonist tirzepatide, with topline results expected by end of February 2025.

Financial highlights for Q2 ended December 31, 2024: Net loss was $2.4 million ($0.12 per share), compared to $7.8 million ($0.56 per share) in Q2 2023. Cash position stood at $3.4 million, with additional $4.3 million raised in February 2025. Operating expenses were $2.6 million.

The company is advancing multiple programs including novel 'next generation' MC4R agonists for obesity treatment, with Phase 1 trials targeted for Q4 2025. Additional pipeline updates include expected topline results from Phase 2 PL8177 study in ulcerative colitis later this quarter.

Palatin Technologies (NYSE American: PTN) has announced it will release its second quarter fiscal year 2025 operating results on Thursday, February 13, 2025, before U.S. markets open. The company will host a conference call and audio webcast at 11:00 a.m. ET the same day, featuring executive management's review of operating results and development program updates.

The earnings release is scheduled for 7:30 a.m. ET, with the live conference call following at 11:00 a.m. ET. A replay will be available from February 13-27, 2025. Palatin is a biopharmaceutical company focused on developing first-in-class medicines based on melanocortin receptor systems for diseases with unmet medical needs.

Palatin Technologies (NYSE American: PTN) has announced a $4.7 million financing through a registered direct offering and concurrent private placement. The company will sell 4,688,000 shares of common stock at $1.00 per share in a registered direct offering to a single healthcare-focused institutional investor.

The deal includes warrants to purchase an additional 4,688,000 shares at an exercise price of $1.00 per share in a private placement. These warrants will become exercisable six months after issuance and expire after five and a half years. The offering is expected to close around February 10, 2025, with proceeds intended for general corporate purposes. A.G.P./Alliance Global Partners is leading the placement, with Laidlaw & Company as co-placement agent.

Palatin Technologies (NYSE American: PTN) has completed its Phase 2 BMT-801 clinical study examining the co-administration of MC4R bremelanotide with GLP-1/GIP tirzepatide for obesity treatment. The study enrolled 113 patients, with 96 randomized across four U.S. clinical sites - nearly double the initial target of 60 patients due to strong demand.

The primary endpoint focuses on demonstrating safety and efficacy in reducing body weight. The study design included a four-week tirzepatide-only treatment period, followed by randomization into four treatment regimens. Topline data results are expected later this quarter.

The company believes the combination of MC4R + GLP-1/GIP agonists may show additive and synergistic effects on patient weight loss. The results will inform planned clinical programs for treating general obesity, weight loss management, hypothalamic obesity, and potential rare MC4R pathway diseases.