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Dec 31, 2022
Palatin Technologies Q2 2023 Earnings Report
Announced financial results for its fiscal second quarter ended December 31, 2022.
Key Takeaways
Palatin Technologies reported an increase in Vyleesi's net product sales by 18% and prescriptions dispensed by 12% over the prior quarter. Net product revenue for the quarter ended December 31, 2022, reached approximately $1 million, exceeding Vyleesi operating expenses.
PL9643 for dry eye disease patient enrollment on track with topline data expected mid-calendar year 2023.
First patient dosed in Phase 2 study of PL8177 for ulcerative colitis, with interim assessment expected in the first half of calendar year 2023 and topline data in the second half of calendar year 2023.
Bremelanotide BREAKOUT study for diabetic kidney disease initiated enrollment in Q1 2023, with complete enrollment targeted for Q3 2023 and topline results expected in Q1 2024.
The Company received $4,674,999 in January 2023 from the sale of NOLs and R&D credits.
Forward Guidance
Palatin believes that existing cash and cash equivalents and receivables will be sufficient to fund currently anticipated operating expenses through calendar year 2023.
Historical Earnings Impact
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