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Palatin Technologies Announces Transition to OTC Pink Following NYSE American Delisting Notice
Palatin Technologies, Inc. ("Palatin" or the "Company"), a biopharmaceutical company developing first-in-class medicines targeting the melanocortin receptor system, today announced that it has received a notice from the NYSE American LLC ("NYSE American") stating that the NYSE Regulation has determined to commence proceedings to delist Palatin's common stock. The notice, issued under Section 1003(f)(v) of the NYSE American Company Guide, cites the low selling price of Palatin's common stock as t
About this update from Palatin Technologies, Inc.
[{"type":"text","content":"The Company Intends to Request a Review of the Delisting Determination","length":70,"tagName":"p","attribs":{}},{"type":"text","content":"CRANBURY, N.J., May 7, 2025 /PRNewswire/ -- Palatin Technologies, Inc. ("Palatin" or the "Company"), a biopharmaceutical company developing first-in-class medicines targeting the melanocortin receptor system, today announced that it has received a notice from the NYSE American LLC ("NYSE American") stating that the NYSE Regulation has determined to commence proceedings to delist Palatin's common stock. The notice, issued under Section 1003(f)(v) of the NYSE American Company Guide, cites the low selling price of Palatin's common stock as the basis for delisting.","length":605,"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":true,"rel":"nofollow"},{"type":"text","content":"As a result, trading of Palatin's common stock on the NYSE American has been immediately suspended, and the shares will transition to the OTC Pink Market under the ticker symbol "PTNT" beginning on May 8, 2025.","length":224,"tagName":"p"},{"type":"text","content":"Palatin intends to appeal the delisting decision, although there can be no assurance that any such appeal will be successful. The Company has until May 14, 2025 to appeal the NYSE American's decision.","length":204,"tagName":"p"},{"type":"text","content":""We are disappointed with the delisting determination," said Carl Spana, Ph.D., President and CEO of Palatin Technologies. "We continue to believe the Company has valuable assets and the actions of NYSE American will in no way deter our commitment to advance our business plan and increase stockholder value."","length":329,"tagName":"p"},{"type":"text","content":"Forw...