Pathnet Inc SEC Filings

Palatin Technologies (PTNT) launched a firm-commitment public offering of 448,769 shares of common stock and 1,982,000 pre-funded warrants, each sold together with Series J and Series K warrants to buy up to 2,430,769 shares each, at a combined price of $6.50 per share (or $6.4999 per pre-funded unit). The company is also registering the shares underlying these warrants and 48,615 underwriter warrants.

Estimated gross proceeds are $15,799,800 and estimated net proceeds are $14,693,814 before expenses. An over‑allotment option permits up to 364,615 additional shares (or pre‑funded warrants) with accompanying warrants within 45 days. Relisting on NYSE American is a closing condition; trading is expected to recommence under “PTN.”

Warrant terms: Series J exercise price $6.50, expiring the earlier of 18 months or the 31st day after FDA acceptance of the company’s IND for an in‑house MC4 obesity compound; Series K exercise price $8.125, up to five years, but may terminate earlier based on the Series J timeline. Pre‑funded warrants have a $0.0001 exercise price and no expiration until fully exercised. Beneficial ownership caps apply at 4.99% (or 9.99% at election). Net proceeds will fund working capital and development of MC4R obesity programs. Insiders will participate at the offering price. Directors and officers are subject to a 60‑day lock‑up, and the company agreed to near‑term issuance and variable‑rate restrictions.

Palatin Technologies (PTNT) entered an underwriting agreement for a public offering of 2,430,769 shares of common stock (or pre-funded warrants in lieu) together with Series J and Series K warrants at a combined public offering price of $6.50 per share and accompanying warrants. The company expects gross proceeds of approximately $15.8 million, with a 45-day option for up to 364,615 additional shares. Closing is expected on or about November 12, 2025, subject to the resumption of trading on NYSE American.

Series J Warrants have a $6.50 exercise price and an expiry tied to the earlier of 18 months or 31 days after FDA acceptance of an IND for an in-house obesity treatment compound. Series K Warrants have an $8.125 exercise price and a five-year term, subject to early termination if Series J conditions aren’t met before the FDA exercise period ends. The company noted a prior 1-for-50 reverse split and submitted pro forma materials supporting compliance with the NYSE American $6.0 million stockholders’ equity standard, citing $8.8 revenue from a Boehringer Ingelheim collaboration and expected $14.7 million net proceeds. Trading is expected to resume on NYSE American under PTN on November 12, 2025.

Palatin Technologies, Inc. filed Amendment No. 2 to a Form S-1 for a firm-commitment public offering of 2,307,692 shares of common stock, each sold with a Series J warrant to purchase one share and a Series K warrant to purchase one share. The filing also registers an alternative of up to 2,307,692 pre-funded warrants in lieu of shares, 46,153 underwriter warrants, and the shares underlying all such warrants.

The expected combined offering price range is $6.00–$7.00 (assumed $6.50 midpoint). Underwriting discounts are 7.0%, with a 45‑day over‑allotment option for up to 346,153 additional shares and accompanying warrants. Estimated net proceeds are approximately $13.9 million at the assumed price, intended for working capital and development of MC4R obesity programs. Closing is conditioned on re‑listing the common stock on NYSE American.

Holders unable to exceed ownership caps may elect pre‑funded warrants with a $0.0001 exercise price, subject to 4.99% (or 9.99%) beneficial ownership limits. Shares outstanding were 973,291 as of October 16, 2025.

Palatin Technologies, Inc. (PTNT) discloses limits on share issuances tied to its offering and regulatory milestones. The company agreed not to enter into or issue shares under a variable rate transaction for four months after the offering, but will be permitted to make sales under an "at-the-market offering" sales agreement beginning on the 46th day following completion of the offering. Certain termination dates for agreements are tied to the U.S. Food and Drug Administration's acceptance of the company’s investigational new drug applications for an in-house obesity treatment (long-acting peptide or oral small molecule), with fallback termination calendar dates of May 8, 2027 and May 8, 2030. The filing also lists specific calendar dates in mid-to-late 2025: July 9, July 29, August 8 (amended August 11), August 18, September 10, and September 22, 2025.

Palatin Technologies, Inc. reported a net loss of $17.3 million for the year ended June 30, 2025 and management concluded there is substantial doubt about the company’s ability to continue as a going concern. The company sold its Vyleesi product assets and recorded an upfront payment of $9.5 million plus additional consideration, recognizing a $3.13 million gain on the sale and a $2.1179 million gain on eliminated purchase commitments for the fiscal year. Cash and short-term money market deposits included $2,286,603 in money market accounts at June 30, 2025 (compared with $9,089,113 at June 30, 2024). Current liabilities totaled $8,010,030 and certain current assets or balances referenced include $2,564,265. The company continues clinical development across multiple melanocortin receptor (MCR) programs, noting positive topline results reported in 2024–2025 for several programs and projected IND filings for two obesity-focused programs in early 2026. Palatin disclosed extensive financing instruments that may dilute existing shareholders, including convertible preferred stock, options, restricted stock units, and multiple series of warrants outstanding or issuable.