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Dec 31, 2023
Palatin Technologies Q2 2024 Earnings Report
Reported financial results for the fiscal second quarter ended December 31, 2023 and provided a corporate update.
Key Takeaways
Palatin Technologies reported a net loss of $7.8 million, or $(0.56) per basic and diluted common share, for the quarter ended December 31, 2023. Vyleesi gross product sales were $4.3 million, with net product revenue of $2.0 million. The company's focus is now solely on advancing its melanocortin-based development and clinical pipeline.
Completed asset sale of Vyleesi® to Cosette Pharmaceuticals for up to $171 million.
Closed on gross proceeds of $15 million in equity.
PL9643 MELODY-1 pivotal Phase 3 study in Dry Eye Disease (DED) – Topline Data Expected in February.
Focus is solely on the development of its Melanocortin Receptor (MCR) System Pipeline.
Palatin Technologies
Palatin Technologies
Forward Guidance
The Company believes that existing cash, cash equivalents, marketable securities and accounts receivable, will be sufficient to fund currently anticipated operating expenses and disbursements into the second half of calendar year 2024.