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Mar 31
Palatin Technologies Q3 2025 Earnings Report
Reported financial results for the fiscal third quarter ended March 31, 2025, with significant progress in obesity and ocular programs.
Key Takeaways
Palatin Technologies reported no revenue for the fiscal third quarter ended March 31, 2025, following the sale of Vyleesi rights. The company significantly reduced its net loss and operating expenses compared to the same period last year, primarily due to decreased spending on MCR programs. They ended the quarter with $2.5 million in cash and cash equivalents and are exploring funding options.
No product revenue was recorded in the quarter due to the sale of Vyleesi's worldwide rights.
Total operating expenses decreased significantly to $4.8 million from $9.2 million in the prior year.
Net loss for the quarter was $4.8 million, a considerable improvement from the $8.4 million loss in the same period last year.
Cash and cash equivalents stood at $2.5 million as of March 31, 2025.
Palatin Technologies
Palatin Technologies
Forward Guidance
Palatin Technologies is focused on advancing its obesity and ocular pipelines and is actively seeking funding sources for future operations, including business development initiatives.
Positive Outlook
- Positive Phase 2 study results for co-administration of Bremelanotide and Tirzepatide in obesity program.
- Positive Phase 3 MELODY-1 study results for PL9643 in dry eye disease, showing significant symptom resolution.
- Actively engaged with multiple potential funding sources.
- Exploring business development initiatives for future cash requirements.
- Confidence in the value of their programs and commitment to executing their strategic plan.
Challenges Ahead
- Delisting of common stock from the NYSE American due to low selling price.
- Trading of common stock moved to the OTC Pink Market.
- Uncertainty regarding the outcome of the review of the NYSE delisting determination.
- Need for future funding to support operating cash requirements.
- Exposure to risks related to clinical trial results and regulatory actions.