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Mar 31, 2020
Palatin Technologies Q3 2020 Earnings Report
Palatin Technologies reported a net loss with ongoing advancements in clinical programs.
Key Takeaways
Palatin Technologies reported a net loss of $5.4 million for the third quarter of fiscal year 2020, compared to a net loss of $5.7 million for the same period in 2019. The company's cash and cash equivalents were $88.9 million as of March 31, 2020. They are continuing to advance their clinical programs.
Net loss was $(5.4) million, compared to $(5.7) million for the comparable quarter of 2019.
Operating expenses were $5.7 million, compared to $5.8 million for the comparable quarter of 2019.
Other income was $331,007, compared to $35,648 for the comparable quarter of 2019.
Cash and cash equivalents were $88.9 million as of March 31, 2020, compared to $91.5 million as of December 31, 2019.
Palatin Technologies
Palatin Technologies
Forward Guidance
Management believes that existing capital resources will be adequate to fund the Company’s planned operations through at least March 31, 2022.