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Palatin Expects $11.5 Million Financing to Cure NYSE American Delisting Notice
Palatin Technologies, Inc. (the "Company" or "Palatin") (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, announced today that it expects to close its previously announced pricing of a public offering consisting of $11.5 million upfront and up to an additional $11.5 million upon the cash exercise of the milestone related warrants, on May 8, 2025. The Company believes the upfront
About this update from Palatin Technologies, Inc.
[{"type":"text","content":"Funding Supports Advancement of Obesity Program and Strategic Business Development Initiatives","length":99,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"Advancement of novel next-generation MC4R long-acting peptides and oral small molecules","length":87,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"IND applications planned for Q4 2025; clinical data expected H1 2026","length":68,"tagName":"p"}]},{"val":[{"type":"text","content":"Phase 1 SAD/MAD studies to include patients with hypothalamic obesity","length":69,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":137,"olType":false}]},{"val":[{"type":"text","content":"Ocular asset collaborations expected in Q2 and Q3 2025","length":54,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":278,"olType":false},{"type":"text","content":"CRANBURY, N.J., May 7, 2025 /PRNewswire/ -- Palatin Technologies, Inc. (the "Company" or "Palatin") (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, announced today that it expects to close its previously announced pricing of a public offering consisting of $11.5 million upfront and up to an additional $11.5 million upon the cash exercise of the milestone related warrants, on May 8, 2025. The Company believes the upfront amount of $11.5 million in gross proceeds, combined with approximately $2.3 million in net proceeds received in April 2025 under its at-the-market (ATM) facility, and its current plans and operations will be sufficient to resolve the delisting determination of NYSE American.","length":840,"tagName":"p"},{"type":"image","alt":"Palatin Technologies, Inc.","displaySize":"","headline":null,"caption":"Palatin Technologies, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":345,"url":"https://media.zenfs.com/en/prnewswire.com/965a03f88317259fbf5e1a6eed8134bc"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/AQfwD723Z4IUxlX8GukUvg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTYwODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/965a03f88317259fbf5e1a6eed8134bc","width":400,"height":345}},"href":"https://mma.prnewswire.com/media/464561/Palatin_Technologies_Logo.html","hrefExternal...