Palatin Technologies, Inc. · AMEX:PTN
Palatin Technologies — Investor Presentation (January 2026)
38 slides from Palatin Technologies's investor presentation, January 2026
Slide 1: Palatin Technologies Corporate Presentation
Palatin Technologies, Inc. NYSE American: PTN CORPORATE PRESENTATION January 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, Inflammatory & Autoimmune Diseases Demonstrated expertise moving programs from discovery to FDA approval Expertise in the biology and chemistry of melanocortin system (MCS) 1st company to gain FDA appro
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 acquired and congenital obesity Multiple Clinical Trials Targeted in 2026 with Novel MC4R Compounds Product/Indication R&D Phase 1 Phase 2 Phase 3 NDA Status/Next Steps Daily dosing format PL7737 Oral Small Molecule MC4R Ago
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: Hypothalamic Obesity (HO)
Hypothalamic Obesity (HO)
Slide 8: Hypothalamic Obesity (HO)
Hypothalamic Obesity (HO) A rare, form of obesity following injury to the hypothalamus Acquired HO • Craniopharyngioma are brain tumors that develop near the hypothalamus and pituitary gland • Treatments include tumor resection surgery, radiation or both • Treatment damages the hypothalamus leading
Slide 9: MC4R Obesity Programs for Treating Acquired and Congenital Obesity
MC4R Obesity Programs for Treating Acquired and Congenital Obesity Palatin’s next generation melanocortin agonists for the advanced treatment of HO Acquired Hypothalamic Obesity (HO) 5,000 – 10,000 ✓ High unmet and unsatisfied medical need estimated U.S. prevalence* ✓ MC4R agonism is a validated tar
Slide 10: 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 11: MC4R selective oral small molecule programs
Melanocortin-4 Receptor (MC4R) Obesity Programs MC4R selective oral small molecule programs for acquired and congenital obesity Current Therapy Challenges Palatin Achieved Solutions Palatin identified small molecules show excellent preclinical oral Injection Frequency bioavailability Palatin small m
Slide 12: Understanding what is required for success
MC4R Obesity Programs for Acquired and Congenital Obesity 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 relationship tha
Slide 13: Ideal PK profile for an obesity treatment
MC4R Obesity Programs for Acquired and Congenital Obesity 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 avoid AE’s
Slide 14: PL7737 reduces body weight in DIO mice
MC4R Obesity Programs for Acquired and Congenital Obesity 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 day Vehi
Slide 15: Oral PL7737 monotherapy 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 16: Current & planned activities for PL7737
MC4R Obesity Programs for Acquired and Congenital Obesity Current & planned activities for PL7737 novel MC4R selective oral small molecule agonist IND-enabling toxicology activities started • Toxicology studies ongoing • IND planned for submission in 1H 2026 CMC activities ongoing • Target dose 160m
Slide 17: 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 18: Next generation MC4R peptide agonist series
Novel "Next Generation" MC4R Selective Peptide Agonists 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 potential lead development candidate o Selective MC4R agonist: Signifi
Slide 19: New peptide compounds reduce/eliminate 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 20: 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 21: 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 • Allows for additional patent protection • Allows
Slide 22: Current/Planned activities – long-acting 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 23: Obesity program next steps
Melanocortin-4 Receptor (MC4R) Obesity Programs Obesity program next steps Treating general obesity & rare obesity indications: primary focus on hypothalamic obesity (HO). Development Timeline • MC4R agonists: o PL7737 oral (daily) small molecule o Long-acting peptide (weekly SC administration) • IN
Slide 24: 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 25: 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 26: GLP-1/GIP + MC4R agonist 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 27: 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 28: 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 29: 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 30: 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 31: Value of the study 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 32: Financial Snapshot, Spin-Out Programs, Development Overview, Milestones
• Financial Snapshot / Cap Table • Spin-Out / Out-License Programs • Development Programs Overview • Milestones Recap
Slide 33: Financial Snapshot / Cap Table
Financial Snapshot / Cap Table Financial Highlights as of September 30, 2025 Cash and Cash Equivalents $1.3 million* No debt *Does not include $6.5 million milestone payment related to our Boehringer Ingelheim collaboration in October 2025 and the net proceeds from our underwritten public offering o
Slide 34: 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 35: MCR Agonists for Retinal Diseases – Boehringer Ingelheim
Proprietary MCR Agonists for Treating Retinal Diseases 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 melanocortin receptor targeted treatment for patients with re
Slide 36: Development Programs Overview
Development Programs Overview Pipeline 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 hypothalamic obesity Phase 1 SAD/MAD start 1H
Slide 37: Milestones Recap
Milestones Recap Melanocortin System Development Programs Date Obesity - MC4R Agonists – Weight Loss (Maintenance) Phase 2 BMT-801 Clinical Study Bremelanotide + GLP-1 (proof-of-concept study only) – Positive Topline Data Reported Completed PL7737 MC4R Oral Small Molecule Agonist – IND Filing / SAD/
Slide 38: Thank You.
Thank You. & PALATIN
Palatin Technologies — Investor Presentation (January 2026) on 6ix