Driehaus takes 9.79% passive position in Palatin Technologies (PTN) shares

Rhea-AI Filing Summary

Driehaus Capital Management LLC, a Delaware investment adviser, reported beneficial ownership of 166,713 shares of Palatin Technologies, Inc. common stock, representing 9.79% of the class as of 12/31/2025. Driehaus has shared power to vote and dispose of all these shares, with no sole voting or dispositive power.

The shares are held in fully discretionary accounts for investment advisory clients, including Driehaus Life Sciences Master Fund, L.P., which retain the right to receive dividends and sale proceeds. Driehaus certifies that the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Palatin.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Palatin Technologies, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

696077601

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 696077601

1

Names of Reporting Persons

DRIEHAUS CAPITAL MANAGEMENT LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 166,713.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 166,713.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

166,713.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.79 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Palatin Technologies, Inc.
(b)	Address of issuer's principal executive offices: 48 Cedar Brook Drive, Cranbury, New Jersey, 08512
Item 2.
(a)	Name of person filing: Driehaus Capital Management LLC (DCM)
(b)	Address or principal business office or, if none, residence: 25 East Erie Street Chicago, Illinois 60611
(c)	Citizenship: USA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 696077601
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 166713
(b)	Percent of class: 9.79 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 166713
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 166713
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Driehaus Life Sciences Master Fund, L.P. (DLSM), a Cayman Islands exempted company, is an investment advisory client of DCM. The shares reported by DCM are held by two clients on a fully discretionary basis in accounts managed by DCM. Securities held in these clients' accounts are included in this report to reflect that DCM may have voting power and has dispositive power. The clients have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sales of, the securities covered by this Statement. DLSM has the right and power with respect to more than 5% of the shares of Common Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DRIEHAUS CAPITAL MANAGEMENT LLC

Signature:	Janet McWilliams
Name/Title:	Janet McWilliams/General Counsel
Date:	02/17/2026

FAQ

What ownership stake does Driehaus Capital Management report in Palatin Technologies (PTN)?

Driehaus Capital Management reports beneficial ownership of 166,713 shares of Palatin Technologies common stock, representing 9.79% of the outstanding class as of December 31, 2025. This makes Driehaus a significant institutional shareholder in the company.

Does Driehaus Capital Management control the Palatin Technologies (PTN) shares it reports?

Driehaus Capital Management reports shared voting and dispositive power over 166,713 Palatin shares and no sole power. The shares are held in discretionary client accounts, meaning Driehaus acts as investment adviser rather than direct owner.

Is Driehaus Capital Management’s Palatin (PTN) position intended to influence control of the company?

Driehaus states the Palatin shares were acquired and held in the ordinary course of business and not for changing or influencing control. The position is described as a passive investment under the Schedule 13G framework.

Who ultimately benefits from the Palatin (PTN) shares reported by Driehaus Capital Management?

The filing explains that the securities are held for investment advisory clients, including Driehaus Life Sciences Master Fund, L.P. Those clients have the right to receive dividends and sale proceeds from the Palatin shares reported.

Why did Driehaus Capital Management file a Schedule 13G for Palatin Technologies (PTN)?

A Schedule 13G is required when an investor holds more than 5% of a company’s shares on a passive basis. Driehaus crossed this threshold in Palatin, reporting 9.79% beneficial ownership while certifying the stake is not for control purposes.

What voting powers does Driehaus have over Palatin Technologies (PTN) stock?

Driehaus reports shared voting power over 166,713 shares and no sole voting power. It similarly has shared dispositive power over the same number of shares, reflecting its role managing client accounts that hold the stock.