Palatin Reports Second Quarter Fiscal Year 2026 Financial Results and Provides Corporate Update

Rhea-AI Summary

Palatin (NYSE: PTN) reported fiscal Q2 2026 results and a corporate update on Feb 17, 2026. The company completed an $18.2M public offering, regained NYSE American compliance, and strengthened its cash position to $14.5M as of Dec 31, 2025, with a cash runway beyond Mar 31, 2027.

Palatin advanced its MC4R obesity programs: oral small-molecule PL7737 targets IND filing and Phase 1 initiation in H1 2026; once-weekly peptide MC4R candidates target IND and Phase 1 in H2 2026. The company received upfronts of €2.0M from Boehringer Ingelheim and $3.8M from a PL9643 sublicense.

Positive

• Public offering raised $18.2M on November 12, 2025
• Cash position improved to $14.5M as of December 31, 2025
• PL7737 IND and Phase 1 planned for H1 2026
• Once-weekly peptide MC4R IND planned for H2 2026
• Boehringer collaboration delivered €2.0M upfront and €5.5M milestone

Negative

• Net loss widened to $7.3M for Q2 ended Dec 31, 2025
• Operating expenses increased to $7.4M in Q2
• Reliance on milestone/exercise-based proceeds for future funding

Key Figures

Collab/license revenue: $116,036 Operating expenses: $7.4 million Net loss: $7.3 million +5 more

8 metrics

Collab/license revenue $116,036 Fiscal Q2 ended December 31, 2025

Operating expenses $7.4 million Fiscal Q2 ended December 31, 2025

Net loss $7.3 million Fiscal Q2 ended December 31, 2025

Net loss per share $(2.86) per share Fiscal Q2 ended December 31, 2025

Cash & equivalents $14.5 million As of December 31, 2025

Public offering size $18.2 million gross / $16.9 million net Underwritten offering closed November 12, 2025

Shares in offering 2,795,384 shares Common stock (or pre-funded warrants) in November 12, 2025 deal

PL9643 upfront $3.8 million Upfront sublicensing consideration in January 2026

Market Reality Check

Price: $17.39 Vol: Volume 3,328 is well belo...

low vol

$17.39 Last Close

Volume Volume 3,328 is well below recent activity (20-day average 25,310, relative volume 0.13x). low

Technical Shares trade above the 200-day MA, with price 17.39 versus 200-day MA of 6.23.

Peers on Argus

No peers from the Pharmaceutical Preparation Manufacturing group appeared in the...

No peers from the Pharmaceutical Preparation Manufacturing group appeared in the momentum scanner; today’s move in PTN looks stock-specific rather than sector-driven.

Previous Earnings Reports

5 past events · Latest: Nov 13 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 13	Q1 FY26 earnings	Positive	-2.2%	Strong collaboration revenue, public offering close, NYSE trading restored.
Feb 13	Q2 FY25 earnings	Positive	+7.1%	Narrowed net loss and progress on obesity and UC clinical programs.
Nov 14	Q1 FY25 earnings	Negative	-10.1%	Larger net loss and low cash while advancing obesity studies.
Oct 01	FY24 results	Negative	-1.6%	Significant quarterly and annual net losses with ongoing funding needs.
May 15	Q3 FY24 earnings	Positive	-14.1%	Positive Phase 3 and Phase 2 updates despite higher expenses and net loss.

Pattern Detected

Earnings updates often led to modest negative moves on average, with occasional sharp selloffs when paired with heavier losses or funding needs.

Recent Company History

Across the last five earnings-related releases since May 2024, Palatin has consistently highlighted its melanocortin pipeline and evolving funding position. Updates ranged from successful clinical milestones in obesity, dry eye, and ulcerative colitis to larger net losses and capital raises. Price reactions have been mixed, averaging about -4.17%, with both aligned declines on weaker financials and divergences when positive clinical or partnership news accompanied results. Today’s Q2 FY2026 update continues this pattern of pairing financial results with pipeline and partnering progress.

Historical Comparison

-4.2% avg move · Over the past five earnings releases, PTN’s average move was about -4.17%. Today’s pre-news gain of ...

earnings

-4.2%

Average Historical Move earnings

Over the past five earnings releases, PTN’s average move was about -4.17%. Today’s pre-news gain of 3.02% represents a more constructive setup versus that history.

Earnings updates show a shift from funding constraints and larger losses toward strengthened cash via offerings and partnerships, while steadily advancing melanocortin-based obesity and immunology programs.

Market Pulse Summary

This announcement combines Q2 FY2026 results with a clearer picture of Palatin’s obesity-focused str...

Analysis

This announcement combines Q2 FY2026 results with a clearer picture of Palatin’s obesity-focused strategy. Key points include collaboration and license revenue of $116,036, a net loss of $7.3 million, and cash of $14.5 million supported by a recent $18.2 million public offering and a $3.8 million PL9643 upfront. Historical earnings releases show mixed market reactions, so investors often monitor future milestones, cash runway beyond March 2027, and progress of PL7737 and next-generation MC4R agonists.

Key Terms

mc4r, mc1r, investigational new drug, phase 1, +3 more

7 terms

mc4r medical

"Advancing differentiated MC4R-based obesity programs into clinical development"

mc4r is a gene that makes a protein in the brain acting like a thermostat for appetite and energy use; when it works normally it helps signal when to eat and when to stop. It matters to investors because changes in this gene or drugs that target its protein can alter obesity and metabolic disease outcomes, influencing clinical trial results, regulatory approvals, and the commercial prospects of therapies.

mc1r medical

"Executed sublicensing of MC1R agonist PL9643 in January 2026"

MC1R is a human gene that encodes a protein on cell surfaces involved in skin and hair pigmentation and in cellular responses to ultraviolet light. For investors, changes or mutations in MC1R matter because they can influence disease risk (notably certain skin cancers), be used as biomarkers, or serve as targets for diagnostics and therapies—think of it as a control switch that drug developers or diagnostic companies might aim to measure or modify.

investigational new drug regulatory

"FDA acceptance of the Company's Investigational New Drug for an in-house obesity"

An investigational new drug is a medication that is still being tested in clinical trials to determine if it is safe and effective for treating a specific condition. For investors, it represents a potential breakthrough that could lead to a new treatment and significant financial gains if successful, but also carries risks since it has not yet been approved for widespread use.

phase 1 medical

"initiation of a Phase 1 single- and multiple-ascending dose (SAD/MAD) trial"

Phase 1 is the first stage of testing a new drug or medical treatment in people, focused primarily on safety, how the body handles the product, and finding a tolerated dose. Think of it as a short, tightly controlled experiment with a small group to check for dangerous side effects before wider testing; for investors it is an early milestone that reduces some uncertainty but still carries high risk and potential for both big value changes and setbacks.

warrants financial

"Series J warrants to purchase up to 2,795,384 shares of common stock"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

reverse stock split financial

"The company completed a 1-for-50 reverse stock split approved by shareholders"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

hyperphagia medical

"Genetic mutations that inhibit signaling through the MC4R pathway lead to hyperphagia"

An abnormally strong, persistent urge to eat that leads to excessive food intake beyond normal hunger; it can be a symptom of neurological, hormonal, genetic, or psychiatric conditions. Investors care because therapies that reduce hyperphagia can become measurable drug trial endpoints, define patient populations and market size, and influence regulatory approval, reimbursement prospects and commercial potential in the obesity and rare-disease sectors.

AI-generated analysis. Not financial advice.

Advancing differentiated MC4R-based obesity programs into clinical development

• Melanocortin-based obesity therapies targeting rare MC4R pathway disorders with a primary focus on hypothalamic obesity and Prader-Willi syndrome
  • Oral small-molecule MC4R agonist PL7737 progressing through IND-enabling toxicology studies, with IND submission and clinical trial initiation planned for the first half of 2026
  • Next-generation selective peptide MC4R agonists designed for once-weekly subcutaneous dosing, with IND submission and clinical trial initiation planned for the second half of 2026
• Executed sublicensing of MC1R agonist PL9643 in January 2026, sharpening focus on core obesity portfolio while preserving upside
  • Received $3.8 million in upfront consideration
  • Eligible for future milestone payments and royalties
• Strengthened balance sheet through successful public financing
  • Completed an $18.2 million public offering, including the full exercise of the over-allotment option, on November 12, 2025
• Restored NYSE American listing compliance and trading, re-establishing market visibility and liquidity
• Teleconference and webcast to be held on February 17, 2026 at 11:00 AM ET

PRINCETON, N.J., Feb. 17, 2026 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor (MCR) system, today announced financial results for its fiscal second quarter ended December 31, 2025, and provided a corporate update.

"Palatin continues to advance its MC4R-based obesity pipeline, with our oral small-molecule MC4R agonist, PL7737, on track to enter clinical evaluation in the first half of this year, and a long-acting peptide MC4R agonist expected to initiate clinical development in the second half of the year," said Carl Spana, Ph.D., President and Chief Executive Officer of Palatin Technologies. "As we progress these programs, we remain focused on delivering differentiated product profiles designed to enhance patient tolerability, including the potential for reduced gastrointestinal side effects, while minimizing off-target effects such as hyperpigmentation. Our preclinical data support the potential applicability of this approach across both rare and select broader obesity indications, with a particular emphasis on neuroendocrine disorders, including hypothalamic obesity and Prader-Willi syndrome. This focus underscores the differentiated nature of our melanocortin platform and our commitment to addressing areas of significant unmet medical need."

"We delivered meaningful execution across our core strategic priorities, highlighted by the successful completion of our $18.2 million public offering, the resumption of trading of our common stock on the NYSE American, and the sublicensing of PL9643, an MC1R agonist Phase 3 asset for dry eye disease," continued Dr. Spana. "Entering 2026, Palatin is positioned with a strengthened balance sheet, multiple partnerships supported by defined near-term milestones, and a focused and differentiated obesity pipeline that provides a clear path toward sustainable, long-term value creation."

Obesity Program Update

The obesity program is focused on developing differentiated MC4R agonists designed to enhance patient tolerability, including the potential for reduced gastrointestinal side effects, while minimizing off-target effects such as hyperpigmentation.

Planned clinical studies are expected to enroll and evaluate patients with hypothalamic obesity and Prader-Willi syndrome, addressing populations with significant unmet medical need.

• PL7737 (oral MC4R agonist):
  • Demonstrated meaningful weight loss, oral bioavailability across relevant preclinical models.
  • IND-enabling toxicology studies are progressing as planned, with an IND submission and initiation of a Phase 1 single- and multiple-ascending dose (SAD/MAD) trial anticipated in the first half of 2026.
• Next-generation selective peptide MC4R agonists:
  • Designed for once-weekly subcutaneous dosing, with an IND submission and initiation of a Phase 1 SAD/MAD trial targeted for the second half of 2026.

Out-Licensing Programs Update

• Retinal diseases (MCR agonists) – Collaboration with Boehringer Ingelheim, providing near-term non-dilutive capital and substantial downstream value potential.
  • Received an upfront payment of €2.0 million ($2.3 million) in August 2025.
  • Achieved €5.5 million ($6.5 million) research milestone in September 2025, reflecting continued program progress.
  • Eligible to receive up to €12.5 million ($14.5 million) in additional near-term research milestones and up to €260 million ($307.0 million) in development, regulatory, and commercial milestones, in addition to tiered royalties on net sales. 
• PL9643 (MC1R agonist) - Dry Eye Disease – Sublicensing agreement with Altanispac Labs, providing near-term value, while preserving long-term participation.
  • Received $3.8 million in upfront consideration in January 2026, strengthening the Company's balance sheet.
  • Eligible to receive additional future payments under the sublicensing agreement, including asset disposition and commercialization milestones, as well as royalties on net sales.
• PL8177 (MCR agonist) - Ulcerative Colitis, advancing toward strategic partnering following clinical validation.
  • Delivered positive Phase 2 proof-of-concept results, supporting the therapeutic potential of the program.
  • Active out-licensing discussions are underway, reflecting interest from potential partners in the asset's clinical profile and commercial potential.
• Diabetic nephropathy (MCR agonists) - Building on encouraging clinical data to advance partnering opportunities.
  • Reported positive Phase 2 open-label results, supporting the therapeutic potential of the program.
  • Ongoing out-licensing discussions continue to explore strategic pathways to maximize the value of the asset.

Corporate Update

Public Offering
On November 12, 2025, Palatin announced the closing of its upsized $18.2 million underwritten public offering ("Offering"), including the full exercise of the over-allotment option, consisting of 2,795,384 shares of common stock (or pre-funded warrants in lieu thereof) of the Company, together with Series J warrants to purchase up to 2,795,384 shares of common stock (or pre-funded warrants in lieu thereof), (the "Series J Warrants"), and Series K warrants to purchase up to 2,795,384  shares of common stock (or pre-funded warrants in lieu thereof), (the "Series K Warrants"), at a combined public offering price of $6.50 per share of common stock and accompanying Series J and Series K warrants (the "Offering").

Each Series J Warrant has an exercise price of $6.50 per share and will expire on the earlier of (i) the eighteen-month anniversary of the original issuance date or (ii) on the 31st calendar day following the date that the Company receives the U.S. Food and Drug Administration ("FDA") acceptance of the Company's Investigational New Drug for an in-house obesity treatment compound (oral small molecule or long-acting peptide) (the "FDA Exercise Period"). Each Series K Warrant has an exercise price of $8.125 per share and will expire on the five-year anniversary of the original issuance date, however, if a holder's Series J Warrants have not been terminated in accordance with their terms prior to the expiration of the FDA Exercise Period, such holder's Series K Warrants will automatically terminate.

The gross proceeds from the Offering, before deducting the underwriting discounts and commissions and offering expenses, were approximately $18.2 million, with net proceeds amounting to $16.9 million. The Company may receive additional proceeds of up to $18.2 million upon the cash exercise of the milestone related Series J Warrants, however, there is no guarantee that such warrants will be exercised and accordingly that the Company will receive any proceeds from the exercise thereof.

The Company intends to use the net proceeds from the Offering to support the development of its obesity program and for working capital and general corporate purposes.

NYSE American
As a result of the closing of the Offering, the Company regained compliance with NYSE American continued listing standard of the NYSE American Company Guide and all applicable requirements for continued listing on NYSE American. Effective November 12, 2025, the Company's common stock resumed trading on the NYSE American under the symbol "PTN."

Fiscal Second Quarter Ended December 31, 2025, Financial Results

Revenue
For the second quarter ended December 31, 2025, Palatin recognized $116,036 in collaboration and license revenue compared to $0 for the comparable quarter last year. The increase in collaboration and license revenue is related to the Boehringer Ingelheim agreement which consisted of certain cost related reimbursements.

Operating Expenses
Total operating expenses were $7.4 million for the second quarter ended December 31, 2025, compared to $2.6 million for the comparable quarter last year. The increase in operating expenses was mainly due to the gain on the sale of Vyleesi recorded in the quarter ended December 31, 2024, which resulted in a decrease in net operating expenses, and an increase in operating expenses for the quarter ended December 31, 2025, consisting of an increase in costs on our MCR obesity development programs and higher compensation costs and professional fees.

Other Income / (Expense)
Total other income (expense), net was $64,687 for the second quarter ended December 31, 2025, compared to $168,841 for the comparable quarter last year. The decrease was a result of a decrease in investment income and foreign currency translation gain, offset by a decrease in interest expense incurred during the second quarter ended December 31, 2025.

Cash Flows
Palatin's net cash used in operations was $4.8 million for the second quarter ended December 31, 2025, and for comparable quarter last year.

Net Loss
Palatin reported a net loss for the second quarter ended December 31, 2025, of $7.3 million, or $(2.86) per basic and diluted common share, compared to a net loss of $2.4 million, or $(5.92) per basic and diluted common share, for the comparable quarter last year.

Cash Position
As of December 31, 2025, Palatin's cash and cash equivalents were $14.5 million, compared to cash and cash equivalents of $1.3 million at September 30, 2025, and $2.6 million as of June 30, 2025. Palatin currently expects a cash runway beyond the quarter ending March 31, 2027.

In January 2026, as partial consideration for the rights to PL9643, the sublicensing agreement provided for upfront consideration in the form of non-cash debt cancellation of approximately $3,800,000, which is reflected in the Company's current liabilities as of December 31, 2025. The $3,800,000 million will be recognized as license revenue in the Consolidated Statements of Operations for the quarter ending March 31, 2026.

Conference Call / Webcast

Palatin will host a conference call and audio webcast on February 17, 2026, at 11:00 a.m. ET to discuss the results of operations in greater detail and provide an update on corporate developments. Individuals interested in listening to the conference call live can dial 1-888-506-0062 (US) or 1-973-528-0011 (International), Participant Access Code: 967781. The audio webcast and replay can be accessed by logging on to the "Investor-Webcasts" section of Palatin's website at http://www.palatin.com. A telephone and audio webcast replay will be available one hour after the completion of the call. To access the telephone replay, dial 1-877-481-4010 (US) or 1-919-882-2331 (International), Replay Passcode 83633. The webcast and telephone replay will be available through March 3, 2026.

Melanocortin-4 Receptor Agonists Effect on Obesity

Hypothalamic neurons expressing the melanocortin-4 receptor (MC4R) play a central role in regulating stored energy, food intake, and body weight. Genetic mutations that inhibit signaling through the MC4R pathway lead to hyperphagia, decreased energy expenditure and early-onset obesity; such mutations have been identified as the cause of several rare genetic obesity disorders. MC4R agonism represents an attractive target for potential obesity treatments.

About Hypothalamic Obesity

Hypothalamic obesity is a rare and severe form of obesity caused by dysfunction or damage to the hypothalamus, the region of the brain that regulates appetite, satiety, and energy balance. Hypothalamic obesity can occur as an acquired condition, most commonly after surgery or radiation therapy for brain tumors such as craniopharyngioma, or as a congenital disorder associated with genetic syndromes and developmental abnormalities affecting hypothalamic function. Individuals with hypothalamic obesity typically experience rapid, excessive weight gain, uncontrollable hunger, and profound metabolic disturbances that are resistant to conventional diet, exercise, and behavioral interventions. There are currently no approved pharmacologic treatments specifically indicated for hypothalamic obesity, representing a significant unmet medical need.

About Prader-Willi Syndrome

Prader-Willi syndrome (PWS) is a rare, complex genetic neurodevelopmental disorder caused by the loss of function of specific genes on chromosome 15. The condition is characterized by hyperphagia, impaired satiety, developmental delays, reduced muscle tone, endocrine abnormalities, and behavioral challenges. Individuals with PWS typically develop an intense and persistent drive to eat, beginning in early childhood, which can lead to severe obesity and related metabolic complications if not strictly managed. Current treatment approaches focus primarily on symptom management, including nutritional supervision, behavioral interventions, and growth hormone therapy, but there are no approved pharmacologic therapies that directly address hyperphagia or the underlying hypothalamic dysfunction associated with PWS. As a result, PWS represents a significant unmet medical need.

About Melanocortin Receptor Agonists

The melanocortin receptor ("MCR") system has effects on inflammation, immune system responses, metabolism, food intake, and sexual function. There are five melanocortin receptors, MC1R through MC5R. Modulation of these receptors, through use of receptor-specific agonists, which activate receptor function, or receptor-specific antagonists, which block receptor function, can have medically significant pharmacological effects.

About Palatin

Palatin is a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor systems, with targeted, receptor-specific product candidates for the treatment of diseases with significant unmet medical need and commercial potential. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders to maximize their commercial potential. For more information, visit the company's website at www.palatin.com and follow us on X (formally Twitter) @PalatinTech.

Forward-looking Statements

Statements in this press release that are not historical facts, including statements about future expectations of Palatin Technologies, Inc., such as statements about Palatin products in development, clinical trial results, potential actions by regulatory agencies, regulatory plans, development programs, proposed indications for product candidates, and market potential for product candidates are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Palatin intends that such forward-looking statements be subject to the safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Palatin's actual results to be materially different from its historical results or from any results expressed or implied by such forward-looking statements. Palatin's actual results may differ materially from those discussed in the forward-looking statements for reasons including, but not limited to, results of clinical trials, regulatory actions by the FDA and other regulatory and the need for regulatory approvals, Palatin's ability to fund development of its technology and establish and successfully complete clinical trials, the length of time and cost required to complete clinical trials and submit applications for regulatory approvals, products developed by competing pharmaceutical, biopharmaceutical and biotechnology companies, commercial acceptance of Palatin's products, and other factors discussed in Palatin's periodic filings with the Securities and Exchange Commission. Palatin is not responsible for updating events that occur after the date of this press release.

Palatin Technologies^® is a registered trademark of Palatin Technologies, Inc.

PALATIN TECHNOLOGIES, INC.
and Subsidiary
Consolidated Statements of Operations
(unaudited)
	Three Months Ended December 31,				Six Months Ended December 31,
	2025		2024		2025		2024
REVENUES
Collaboration and license	$          116,036		$                      -		$       8,963,586		$                      -
OPERATING EXPENSES
Research and development	4,319,767		3,429,479		6,845,533		9,173,233
General and administrative	3,124,817		1,681,844		4,785,548		3,702,775
Gain on sale of Vyleesi	-		(2,500,000)		-		(2,500,000)
Total operating expenses	7,444,584		2,611,323		11,631,081		10,376,008
Loss from operations	(7,328,548)		(2,611,323)		(2,667,495)		(10,376,008)
OTHER INCOME (EXPENSE)
Investment income	65,185		29,044		83,668		107,620
Foreign currency transaction gain	-		143,600		-		12,000
Interest expense	(498)		(3,803)		(2,500)		(9,743)
Total other income (expense), net	64,687		168,841		81,168		109,877
NET LOSS	$      (7,263,861)		$      (2,442,482)		$      (2,586,327)		$    (10,266,131)
Basic and diluted net loss per common share	$               (2.86)		$               (5.92)		$               (1.47)		$             (25.36)
Weighted average number of common shares outstanding used in computing basic and diluted net loss per common share	2,539,632		412,697		1,755,641		404,799

 

PALATIN TECHNOLOGIES, INC.
and Subsidiary
Consolidated Balance Sheets
(unaudited)
	December 31, 2025		June 30, 2025
ASSETS
Current assets:
Cash and cash equivalents	$                14,476,162		$         2,564,265
Accounts Receivable	1,636,325		-
Other receivables	-		29,468
Prepaid expenses and other current assets	1,354,992		325,695
Total current assets	17,467,479		2,919,428
Property and equipment, net	113,485		129,444
Right-of-use assets - operating leases	346,764		161,166
Other assets	-		56,916
Total assets	$                17,927,728		$         3,266,954
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Current liabilities:
Accounts payable	$                  5,453,080		$         6,998,806
Accrued expenses	659,841		881,412
Short-term operating lease liabilities	219,727		129,812
Total current liabilities	6,332,648		8,010,030
Long-term operating lease liabilities	129,061		33,969
Total liabilities	6,461,709		8,043,999
Stockholders' equity (deficiency):
Preferred stock of $0.01 par value – authorized 10,000,000 shares: shares issued
and outstanding designated as follows:
Series A Convertible: authorized 4,030 shares as of December 31, 2025: issued
and outstanding 4,030 shares as of December 31, 2025 and June 30, 2025	40		40
Series D Convertible: authorized 3,400 shares as of December 31, 2025: issued
and outstanding 3,400 shares as of December 31, 2025 and June 30, 2025	34		34
Common stock of $0.01 par value – authorized 300,000,000 shares:
issued and outstanding 1,757,199 shares as of December 31, 2025 and 929,597 shares as of June 30, 2025	17,572		9,296
Additional paid-in capital	473,108,599		454,287,484
Accumulated deficit	(461,660,226)		(459,073,899)
Total stockholders' equity (deficiency)	11,466,019		(4,777,045)
Total liabilities and stockholders' equity (deficiency)	$                17,927,728		$         3,266,954

 

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SOURCE Palatin Technologies, Inc.

FAQ

When will PTN (Palatin) start clinical trials for oral MC4R agonist PL7737?

PL7737 is planned to enter Phase 1 clinical trials in the first half of 2026. According to the company, IND-enabling toxicology studies are underway with an IND submission and SAD/MAD trial initiation targeted for H1 2026.

What did Palatin (PTN) raise in its November 2025 public offering and how was it used?

Palatin completed an $18.2 million upsized public offering in November 2025. According to the company, net proceeds are intended to support obesity program development, working capital, and general corporate purposes.

How strong is PTN's cash runway after the December 31, 2025 update?

Palatin reported $14.5 million in cash and expects a runway beyond March 31, 2027. According to the company, the November offering and sublicensing proceeds strengthened the balance sheet to support planned development.

What near-term milestones could generate revenue for Palatin (PTN)?

Near-term potential revenue includes sublicense upfronts, milestones, and warrant exercises tied to clinical events. According to the company, PL9643 provided $3.8M upfront and Boehringer payments totaled €7.5M year-to-date including a €5.5M milestone.

What clinical indications will PTN target with its MC4R programs in 2026?

PTN plans trials in hypothalamic obesity and Prader-Willi syndrome in 2026. According to the company, planned studies will enroll patients with these rare MC4R-pathway disorders to address significant unmet needs.