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) is a biopharmaceutical innovator developing receptor-specific therapies for conditions with high unmet medical needs, including obesity, inflammatory diseases, and ocular disorders. This page provides investors and industry professionals with timely updates on the company’s clinical progress, regulatory milestones, and strategic initiatives.
Access comprehensive coverage of Palatin’s press releases and news articles, including updates on melanocortin receptor-targeted drug development, clinical trial results, and partnership announcements. Our curated repository ensures you stay informed about key developments in the company’s pipeline, such as PL8177 for ulcerative colitis and MC4R agonist programs for metabolic disorders.
Content spans regulatory filings, research collaborations, patent updates, and analysis of scientific presentations. Bookmark this page for streamlined access to verified information about Palatin’s advancements in peptide therapeutics and receptor modulation strategies. Check back regularly for objective reporting on how the company addresses complex medical challenges through precision drug development.
Palatin Technologies, a biopharmaceutical company, announced a warrant inducement agreement with an institutional investor, resulting in the exercise of warrants for gross proceeds of approximately $6.1 million.
The agreement involves 3,233,277 shares of common stock at an amended price of $1.88 per share. The investor will receive unregistered Series A and Series B warrants, expiring five years from the closing date. The proceeds will support working capital and general corporate purposes.
The transaction is expected to close around June 24, 2024, pending customary conditions. The issued warrants are unregistered under the Securities Act of 1933.
Palatin Technologies has initiated a Phase 2 clinical study of bremelanotide (BMT) co-administered with a PDE5 inhibitor (PDE5i) for treating erectile dysfunction (ED) in patients unresponsive to PDE5i monotherapy. With 30-40% of ED patients not responding to current PDE5i treatments, this study aims to address significant unmet medical needs. The trial will involve around 50 patients and assess the safety and efficacy of the combination therapy. Topline data from the study is anticipated by the end of 2024. The study is FDA and IRB approved. Furthermore, a Phase 3 clinical study of a new co-formulated BMT plus PDE5i is expected to start in the first half of 2025. ED affects approximately 30 million men in the U.S., and current PDE5i monotherapy represents over $4 billion in annual sales but is ineffective for a significant portion of patients.
Palatin Technologies (NYSE American: PTN) has initiated a Phase 2 clinical study to evaluate the safety and efficacy of bremelanotide, a melanocortin 4 receptor (MC4R) agonist, co-administered with tirzepatide (GLP-1/GIP) in obese patients. The trial aims to demonstrate the safety and improved efficacy of this combination in reducing body weight. The study, cleared by the FDA, involves 60 patients across five U.S. sites, with topline data expected by the end of 2024. Palatin believes this combination could lead to significant weight loss with improved tolerability, addressing the high discontinuation rates associated with current GLP-1 treatments. The company is also exploring additional studies for metabolic conditions and rare genetic diseases of obesity.
Palatin Technologies announced its Q3 FY2024 financial results and corporate updates. The company reported successful Phase 3 results for its dry eye treatment, PL9643, showing statistical significance in the co-primary endpoint of pain and several secondary endpoints. Interim analysis for their Phase 2 oral PL8177 study in ulcerative colitis is expected in Q2 2024, with topline results in 2H 2024. They plan to initiate Phase 2 trials in obesity and erectile dysfunction in Q2 2024. Revenue for the quarter ended March 31, 2024, was $0 due to the sale of Vyleesi rights. Operating expenses increased to $9.2 million, and net loss was $8.4 million. Cash position as of March 31, 2024, was $10 million. The company believes it has sufficient funds for its operations into the second half of 2024.
Palatin Technologies, Inc. (NYSE American: PTN) will report its third quarter fiscal year 2024 results on May 15, 2024, before the U.S. financial markets open. A conference call and webcast will follow at 11:00 a.m. ET to discuss the operating results and programs under development.
Palatin Technologies, Inc. (NYSE American: PTN) has received FDA clearance to begin a Phase 2 clinical study for the co-administration of bremelanotide with tirzepatide for treating obesity. The study is expected to start in mid-2024 with data by the end of the year. The company is hosting a virtual KOL event on May 8, 2024, to discuss its metabolic program.
Palatin Technologies, Inc. (NYSE American: PTN) will host a virtual KOL event on May 8, 2024, focusing on novel melanocortin receptor 4 agonists for treating obesity. The event will feature discussions on the current treatment landscape, the need for new treatments, and combining melanocortin agonists with incretins for optimal treatment. Palatin's Phase 2 clinical study is set to begin in mid-2024, with results expected by the end of the year.
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