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palatin technologies inc (PTN) Key Developments

Palatin Technologies, Inc Reports Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2014

Palatin Technologies Inc. reported earnings results for the fourth quarter and full year ended June 30, 2014. For the quarter, the company reported net loss was $4.32 million, or $0.04 loss per share, compared to a net loss of $4.72 million, or $0.04 loss per share, for the same quarter ended June 30, 2013. Loss from operations for the fourth quarter ended June 30, 2014 was $4.32 million, compared to a loss from operations of $4.72 million for the same quarter ended June 30, 2013. Net loss for the year ended June 30, 2014 was $13.93 million, or $0.13 loss per share, compared to a net loss of $20.86 million, or $0.21 loss per share, for the same period ended June 30, 2013. Loss from operations for the year ended June 30, 2014 was $15.79 million, compared to a loss from operations of $15.58 million for the same period ended June 30, 2013.

Palatin Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2014

Palatin Technologies Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended June 30, 2014. For the quarter, the company's loss from operations was $4.3 million compared with $4.7 million a year ago. Loss before income taxes was $4.3 million compared with $4.7 million a year ago. Net loss was $4.3 million or $0.04 per basic and diluted share compared with $4.7 million or $0.04 per basic and diluted share a year ago. The decrease in net loss for the quarter ended June 30, 2014 compared to the net loss for the quarter ended June 30, 2013 was the result of a decrease in operating expenses primarily related to its bremelanotide for female sexual dysfunction program. For the year, the company's loss from operations was $15.8 million compared with $15.6 million a year ago. Loss before income taxes was $15.8 million compared with $22.6 million a year ago. Net loss was $13.9 million or $0.13 per basic and diluted share compared with $20.9 million or $0.21 per basic and diluted share a year ago. The decrease in net loss for the year ended June 30, 2014, compared to the net loss for the year ended June 30, 2013 was mainly attributable to the recognition of a $7.1 million, non-cash charge to expense for the increase in fair value of warrants related to its July 3, 2012 private placement offering.

Palatin Technologies Inc., Q4 2014 Earnings Call, Sep 09, 2014

Palatin Technologies Inc., Q4 2014 Earnings Call, Sep 09, 2014

Palatin Technologies Inc. to Report Q4, 2014 Results on Sep 09, 2014

Palatin Technologies Inc. announced that they will report Q4, 2014 results at 7:30 AM, US Eastern Standard Time on Sep 09, 2014

Palatin Technologies Licenses Bremelanotide in Europe and Other Selected Countries to Richter

Palatin Technologies Inc. and Gedeon Richter plc announced that they have entered into a collaboration and license agreement to co-develop and commercialize bremelanotide for female sexual dysfunction (FSD) indications in the European Union, other European countries and additional selected countries. Richter is a European-based specialty pharmaceutical company with a strong focus in female health and annual sales of more than EUR 1.2 billion. Under the terms of the agreement, Palatin will receive total upfront payments of EUR 7.5 million. Palatin and Richter will each contribute to the European co-development activities (primarily one phase 3 clinical trial in Europe) for obtaining regulatory approval in Europe. Palatin anticipates that its part of the European co-development activities will be cash neutral through the European regulatory filing stage. All sales, marketing, and commercial activities and associated costs in the licensed territory will be the sole responsibility of Richter. Palatin will additionally receive EUR 2.5 million upon initiation of its phase 3 clinical trial program in the United States. Palatin is also eligible to receive EUR 20 million regulatory related milestones. Palatin has the potential to receive up to EUR 60 million potential sales related milestones and low double-digit royalties on net sales in the licensed territory.

 

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