Palatin Technologies (OTCQB: PTNT) wins €5.5M Boehringer milestone

Rhea-AI Filing Summary

Palatin Technologies, Inc. reported that it achieved a research milestone under its collaboration with Boehringer Ingelheim, triggering a €5.5 million ($6.5 million) payment to Palatin. This payment adds to an earlier upfront payment of €2.0 million ($2.3 million) and is part of up to €18.0 million ($21.2 million) in near-term research milestones available under the agreement.

Beyond these near-term milestones, Palatin is eligible for as much as €260 million ($307 million) in success-based development, regulatory, and commercial milestone payments, plus tiered royalties on net sales from any products that emerge from the collaboration. Separately, the company notes that its common stock was found no longer suitable for listing on NYSE American due to a low selling price, was suspended from trading on that exchange on May 7, 2025, and now trades on the OTCQB Market under the symbol “PTNT”.

Positive

• Research milestone payment: Achievement of a collaboration milestone with Boehringer Ingelheim triggers a €5.5 million ($6.5 million) non-dilutive payment to Palatin.
• Large milestone and royalty potential: Palatin is eligible for up to €18.0 million ($21.2 million) in near-term research milestones and up to €260 million ($307 million) in longer-term milestones, plus tiered royalties on net sales.

Negative

• Delisting from NYSE American: NYSE Regulation determined Palatin was no longer suitable for listing due to the low selling price of its common stock, leading to trading suspension on May 7, 2025 and a move to the OTCQB Market under “PTNT”.

Insights

Biotech collaboration and capital structure analyst

Milestone payment brings non-dilutive cash and validates Palatin’s Boehringer collaboration.

The achievement of a research milestone with Boehringer Ingelheim triggers a €5.5 million ($6.5 million) payment to Palatin, adding to a prior €2.0 million ($2.3 million) upfront. For a development-stage biotech, these collaboration payments are an important non-dilutive funding source that can help support ongoing R&D without issuing new equity or taking on debt, based on the information provided.

The agreement also outlines up to €18.0 million ($21.2 million) in additional near-term research milestones and as much as €260 million ($307 million) in longer-term development, regulatory, and commercial milestones, plus tiered royalties on future net sales. Those larger amounts depend on successful progression of programs, regulatory outcomes, and commercialization under the collaboration. Separately, the disclosure that Palatin’s stock was delisted from NYSE American due to a low selling price and now trades on the OTCQB Market under “PTNT” highlights listing-status risk that investors may weigh against the collaboration upside.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 22, 2025

PALATIN TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-15543		95-4078884
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

103 Carnegie Center Drive, Suite 300, Princeton, NJ		08512
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (609) 495-2200

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol		Name of each exchange on which registered
Common Stock, par value $0.01 per share		PTN1		NYSEAmerican

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 ___________________

¹ Palatin Technologies, Inc. (the “Company”) has received a notice from the NYSE American LLC (“NYSE American”) stating that the NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the low selling price of the Company’s Common Stock. NYSE American commenced delisting proceedings in connection with the foregoing determination, and trading the Company’s common stock was suspended on May 7, 2025. The Company’s common stock currently trades on the OTCQB Market of the OTC Markets Group under the trading symbol “PTNT”.

Item 8.01 Other Events.

On September 22, 2025, Palatin issued a press release announcing the achievement of a research milestone under its collaboration with Boehringer Ingelheim. This milestone triggers a €5.5 million ($6.5 million) payment to Palatin.. The press release is furnished as Exhibit 99.1 and incorporated by reference herein.

Under the terms of the agreement, Palatin received an upfront payment of €2.0 million ($2.3 million USD) and is eligible for up to €18.0 million ($21.2 million USD) in near-term research milestones, which includes the achievement of the €5.5 million ($6.5 million) milestone announced today. In addition, Palatin is eligible for up to €260 million ($307 million USD) in success-based development, regulatory, and commercial milestone payments, as well as tiered royalties on net sales resulting from the collaboration.

The foregoing description of the Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by reference to, the complete text of the Agreement, which will be filed with the U.S. Securities and Exchange Commission as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2025.

The information in this Item 8.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), whether made before or after the date hereof, except as expressly set forth by specific reference in such filing. The furnishing of this information will not be deemed an admission as to the materiality of any information contained therein.

Forward-Looking Statements

This Current Report includes forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “will” and “expected”, or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors. These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this Current Report, and the Company expressly disclaims any obligation or undertaking to update or revise and forward-looking statement contained herein, or to reflect any change in the Company’s expectations with regard thereto or any other change in events, conditions, circumstances, on which any such statement is based, except to the extent otherwise required by applicable law.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.		Description
99.1		Press Release, dated September 22, 2025.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 22, 2025		PALATIN TECHNOLOGIES, INC.
		/s/ Stephen T. Wills
		Stephen T. Wills, CPA, MST
		Executive Vice President, Chief Financial Officer and Chief Operating Officer

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FAQ

What did Palatin Technologies (PTNTD) announce in its latest 8-K?

Palatin Technologies announced that it achieved a research milestone under its collaboration with Boehringer Ingelheim, triggering a €5.5 million ($6.5 million) payment to the company.

How much immediate funding does Palatin receive from the Boehringer Ingelheim milestone?

The milestone achievement results in a €5.5 million ($6.5 million) payment to Palatin, in addition to the previously received €2.0 million ($2.3 million) upfront payment.

What is the total milestone potential of Palatin’s collaboration with Boehringer Ingelheim?

Under the agreement, Palatin is eligible for up to €18.0 million ($21.2 million) in near-term research milestones and up to €260 million ($307 million) in success-based development, regulatory, and commercial milestones, plus tiered royalties on net sales.

What royalties could Palatin Technologies earn from this collaboration?

Palatin is entitled to tiered royalties on net sales of any products resulting from its collaboration with Boehringer Ingelheim, in addition to milestone payments.

What is the current trading status of Palatin Technologies’ common stock?

NYSE Regulation determined the stock was no longer suitable for listing on NYSE American due to its low selling price, and trading there was suspended on May 7, 2025. The common stock now trades on the OTCQB Market under the symbol “PTNT”.

Does this 8-K include Palatin’s full collaboration agreement with Boehringer Ingelheim?

No. The company states that the complete text of the agreement will be filed as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending September 30, 2025.