Palatin Technologies, Inc. · AMEX:PTN
Palatin Technologies — Investor Presentation (March 2026)
40 slides from Palatin Technologies's investor presentation, March 2026
Slide 1: Palatin Technologies Corporate Presentation
Palatin Technologies, Inc. NYSE American: PTN CORPORATE PRESENTATION March 2026 Carl Spana, Ph.D. Stephen T. Wills, CPA/MST President & CEO CFO / COO
Slide 2: Forward Looking Statements
Forward Looking Statements The statements in this presentation that relate to future plans, events or performance are forward-looking statements, which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended. Such forward-looking statements involve si
Slide 3: Company Profile
Company Profile Technology platform – targeting the melanocortin system Therapeutics for Obesity (primary focus rare MC4R diseases), Inflammatory & Autoimmune Diseases Demonstrated expertise moving programs from discovery to FDA approval Expertise in the biology and chemistry of melanocortin system
Slide 4: Palatin Leadership
Palatin Leadership Strong team, with broad and extensive biopharma experience Stephen T. Wills, CPA/MST Carl Spana, PhD Chief Financial Officer and President and Chief Executive Officer Chief Operating Officer Co-founder with 25-plus years in drug 25-plus years in finance, operations, research, deve
Slide 5: Development Programs
Development Programs Novel ‘next generation’ MC4R agonists for treatment of rare neuroendocrine diseases Multiple Clinical Trials Targeted in 2026 for the Treatment of Rare MC4R Pathway Diseases R&D Product/Indication Phase 1 Phase 2 Phase 3 NDA Status/Next Steps Pre-clinical PL7737 Oral Small Molec
Slide 6: MC4R Obesity Programs
C o n MC4R Obesity Programs f MC4R pathway regulates obesity and energy management through satiety & food intake i d e n t i a l Central leptin-melanocortin pathway is a critical pathway that regulates feeding and body weight to maintain energy homoeostasis 6 Sweeney, P et.al. Nature Reviews Endocri
Slide 7: The Melanocortin Receptor System
The Melanocortin Receptor System Review of weight loss maintenance; obesity management by way of MC4R agonism Realizing the Long-Term Benefits of Obesity Treatment Including: cardiovascular disease, diabetes, fatty Excess body weight and fat is associated with liver disease, musculoskeletal disorder
Slide 8: Rare MC4R Pathway Diseases
Rare MC4R Pathway Diseases • Hypothalamic Obesity (HO) • Prader-Willi Syndrome (PWS)
Slide 9: Hypothalamic Obesity (HO)
Hypothalamic Obesity (HO) A rare, acquired form of obesity following injury to the hypothalamus or congenital Acquired HO • Craniopharyngioma are brain tumors that develop near the hypothalamus and pituitary gland. • Treatments include tumor resection surgery, radiation or both. • Treatment damages
Slide 10: Prader-Willi Syndrome (PWS)
Prader-Willi Syndrome (PWS) A complex, multi-system disorder PWS • PWS by deletion ~70% of cases o Part of the chromosome 15 that was inherited from the person’s father is missing, or deleted, in this critical region. • PWS by maternal uniparental disomy (UPD) ~30% of cases o Occurs when an individu
Slide 11: MC4R Obesity Programs for Treating Rare MC4R Pathway Diseases
MC4R Obesity Programs for Treating Rare MC4R Pathway Diseases Prevalence of HO and PWS – a severe, life-long burden for patients Acquired Hypothalamic Obesity (HO) 5,000 – 10,000 Estimated U.S. prevalence* • High unmet and unsatisfied medical need 3,500 – 10,000 • MC4R agonism is a validated target
Slide 12: Melanocortin-4 Receptor (MC4R) Obesity Programs
Melanocortin-4 Receptor (MC4R) Obesity Programs • Novel “Next Generation” MC4R Selective Agonists o PL7737 Oral MC4R Selective Small Molecule o MC4R Selective Peptides Once Weekly Dosing
Slide 13: MC4R selective oral small molecule programs
Melanocortin-4 Receptor (MC4R) Obesity Programs MC4R selective oral small molecule programs for treatment of rare MC4R pathway diseases Current Therapy Challenges Palatin Achieved Solutions Palatin identified small molecules show excellent preclinical oral Injection Frequency bioavailability Palatin
Slide 14: Novel next generation MC4R selective agonists
MC4R Obesity Programs for Treatment of Rare MC4R Pathway Diseases Novel “next generation” MC4R selective agonists: understanding what is required for success Historically, MC4R small molecule programs have failed due to a lack of understanding the receptor biology and the structure/function relation
Slide 15: Ideal PK profile for an obesity treatment
MC4R Obesity Programs for Treatment of Rare MC4R Pathway Diseases Ideal PK profile for an obesity treatment (PK consistency across mouse, rat, dog) • Oral administration • Protein binding facilitates efficacious levels without surpassing them • PL7737 does not have a high transient Cmax helps to avo
Slide 16: PL7737 reduces body weight in DIO mice
MC4R Obesity Programs for Treatment of Rare MC4R Pathway Diseases MC4R selective oral small molecule PL7737 @ 3, 10 and 30mg/kg reduces body weight in DIO mice PL7737 is a novel MC4R selective oral small molecule agonist. Body Weight Change in DIO mice % Change from Day 0 Vehicle subtracted 2 study
Slide 17: Oral PL7737 weight loss in DIO rats
MC4R Obesity Programs for Acquired and Congenital Obesity Oral PL7737 monotherapy causes significant weight loss in diet-induced obesity (DIO) rats PL7737 is a novel MC4R selective oral small molecule agonist. • PL7737 dosed orally at 3, 10 and 30mg/kg • PL7737 monotherapy had rapid, dose-dependent
Slide 18: Current & planned activities for PL7737
MC4R Obesity Programs for Treatment of Rare MC4R Pathway Diseases Current & planned activities for PL7737 novel MC4R selective oral small molecule agonist IND-enabling toxicology activities started • Toxicology studies ongoing • IND planned for submission 1H 2026 CMC activities ongoing • Non-GMP tox
Slide 19: Novel Next Generation MC4R Selective Peptide Agonists
Novel "Next Generation" MC4R Selective Peptide Agonists Legacy challenges of MC4R peptide agonists have been solved Current Therapy Challenges Palatin Achieved Solutions Palatin’s compounds with high potency coupled with structural elements, Injection Frequency extend drug residency time (≥ 1 week)
Slide 20: First series / Second series peptides
Novel "Next Generation" MC4R Selective Peptide Agonists First series / Second series First series of ‘next generation’ MC4R peptide agonists for obesity: • Palatin studies in MC4R knock-out model confirm weight loss is dependent on a functional MC4R • PL8905 class lead development candidate o Select
Slide 21: Second series reduces/eliminates MC1R agonism
Novel "Next Generation" MC4R Selective Peptide Agonists Second series - new Palatin peptide compounds reduce/eliminate MC1R agonism Agonist MC1R EC50 (Emax) MC4R EC50 (Emax) MC4R Selectivitya Bremelanotide 0.23 nM (91.8%) 5.01 nM (91.0%) 0.05 Setmelanotide 0.4 nM (106%) 0.66 nM (98.8%) 0.61 PL8905 3
Slide 22: In vivo PL8905 weight loss studies
Novel "Next Generation" MC4R Selective Peptide Agonists In vivo PL8905 weight loss studies in diet-induced obese (DIO) and MC4R knockout (KO) mice Change in Body Weight Body Weight in Wild Type DIO Mice and MC4R- Knockout Mice Change in body weight 6 Body Weight Change (%) 4 Vehicle PL-8905 0.3mg/kg
Slide 23: Proprietary technology for extending peptide PK
Novel "Next Generation“ MC4R Selective Peptide Agonists Proprietary technology for extending peptide PK 100 Unlipidated-PL10239 Single SC Dose of 0.5 mg/kg Plasma Concentration (ng/mL) Rat 1 10 Rat • Proprietary technology for extending peptide pk 2 • Enhances patent protection • Allows for once wee
Slide 24: Current/Planned activities for once weekly peptides
Novel "Next Generation“ MC4R Selective Peptide Agonists Current/Planned activities – long-acting once weekly administration SC peptides Highly selective MC4R agonsits to avoid hyperpigmentation, no blood pressure effects and enabling once weekly injection into one compound accomplished • Multiple ca
Slide 25: Next steps and development timeline overview
Melanocortin-4 Receptor (MC4R) Obesity Programs Next steps and development timeline overview Treating rare MC4R pathway diseases: primary focus on Hypothalamic Obesity (HO) and Prader-Willi Syndrome (PWS) MC4R agonists • PL7737 oral (daily) small molecule o IND submission planned for 1H 2026 o Phase
Slide 26: MC4R Agonist Generalized Obesity Management
MC4R Agonist Generalized Obesity Management • Bremelanotide MC4R agonist Phase 1b clinical weight loss study in general obese subjects • Co-administration of Bremelanotide MC4R & Tirzepatide (GLP-1/GIP) o Bremelanotide (BMT) MC4R Agonist ✓ FDA Approved (Vyleesi® for Female HSDD)
Slide 27: Bremelanotide Phase 1b weight loss study
C o n MC4R Agonist Generalized Obesity Management f Bremelanotide MC4R agonist obesity Phase 1b clinical weight loss study in general obese subjects i d e n t i 2-Week Study a l • General obese subjects: BMI ~35 o Bremelanotide: n=27 o Vehicle: n=26 • Weight loss: o Placebo -0.7kg; o Bremelanotide:
Slide 28: GLP-1/GIP plus MC4R co-administration clinical data
MC4R Agonist Generalized Obesity Management GLP-1/GIP agonist + MC4R agonist: co-administration clinical data* • No prospective studies have been done with combination pharmacotherapy • Previously published combination of setmelanotide plus 2.5mg of tirzepatide for obesity in BBS • 2 patients lost 2
Slide 29: BMT-801 signal detection study objectives
MC4R Agonist Generalized Obesity Management BMT-801 Phase 2 signal detection study objectives Co-Administration GLP1/GIP Agonist Tirzepatide (2.5mg Weekly) + MC4R Agonist Bremelanotide (1.25mg Daily) Main Research Questions • Does co-administration result in increased weight loss? • Does MC4R agonis
Slide 30: BMT-801 signal detection study design
MC4R Agonist Generalized Obesity Management BMT-801 Phase 2 signal detection study Co-Administration GLP1/GIP Agonist Tirzepatide & MC4R Agonist Bremelanotide Study Design: Randomized, double-blind, placebo-controlled trial evaluating the safety and efficacy of the addition of an MC4R agonist (BMT)
Slide 31: Co-administration additive effect – primary analysis
MC4R Agonist Generalized Obesity Management Co-administration additive effect – primary analysis Analysis for Additive Effect Percent of Subjects with ≥4% Reduction in Percent Weight Loss at End of Study 60 Group 1 Group 2 Group 3 Group 4 Group 1: Tirzepatide (2.5 mg SC) weekly/BMT (1.25 mg SC) dail
Slide 32: Effect of co-administration on increased weight loss
MC4R Agonist Generalized Obesity Management Effect of co-administration on increased weight loss Weekly Change in Percent Body Weight (%) by Group 0 -0.5 • Comparison of Group 4 to -1 Group 3 during Treatment Period 2 demonstrates a Percent Change in % Weight -1.5 weight loss maintenance -2 effect -
Slide 33: BMT-801 value of results and next steps
MC4R Agonist Generalized Obesity Management BMT-801 MC4R/GLP-1-GIP co-administration detection study Value of the study results and next steps Confirmation that MC4R treatment with GLP-1/GIP can be additive without increasing safety and BMT-801 Study tolerability issues Support to perform co-adminis
Slide 34: Financial Snapshot / Cap Table; Spin-Out Programs; Milestones
Financial Snapshot / Cap Table Spin-Out / Out-License Programs Development Programs Overview Milestones Recap
Slide 35: Financial Snapshot / Cap Table
Financial Snapshot / Cap Table Financial Highlights as of December 31, 2025 Cash and Cash Equivalents $14.5 million No debt Summary Capitalization as of December 31, 2025 Common Shares and Equivalent Common Stock 1.7 million shares Warrants (includes PF warrants of ~2.1M) 8.5 million shares Options
Slide 36: Spin-Out / Out-License Programs
Spin-Out / Out-License Programs Product/Indication R&D Phase 1 Phase 2 Phase 3 NDA Status/Next Steps Ocular Phase 3 MELODY-1 completed - positive data Phase 3 Melody-2 & -3 potential initiation 2026 PL9643 MCR Agonist Dry eye disease (DED) Sublicense Agreement with Altanispac Labs January 2026 Resea
Slide 37: Boehringer Ingelheim Research Collaboration
Development Programs Overview Research Collaboration / License Agreement with Boehringer Ingelheim August 2025 Boehringer Ingelheim and Palatin to develop potential first-in-class • Upfront payment of €2.0 million proprietary melanocortin receptor targeted treatment for patients ($2.3 million USD).
Slide 38: Development Programs Overview Pipeline
Development Programs Overview Pipeline Obesity Development Programs Preclinical Phase 1 Phase 2 Phase 3 NDA Status/Next Steps PL7737 Oral Small Molecule MC4R Agonist IND enabling – CMC activities ongoing Multiple obesity indications with focus on IND filing 1H26 HO and PWS diseases Phase 1 SAD/MAD s
Slide 39: Milestones Recap
Milestones Recap Melanocortin System Development Programs Date Obesity - MC4R Agonists – Treatment of Rare MC4R Pathway Diseases (primary focus on HO and PWS) Phase 2 BMT-801 Clinical Study Bremelanotide + GLP-1 (proof-of-concept study only) – Positive Topline Data Reported Completed PL7737 MC4R Ora
Slide 40: Thank You
Thank You. & PALATIN
Palatin Technologies — Investor Presentation (March 2026) on 6ix