Palatin Technologies Inc. (PTN)

[Theo]

Palatin Technologies, Inc. Announces FDA Clearance of Investigational New Drug (IND) Application for PL-8177 For Ulcerative Colitis

"CRANBURY, N.J., Jan. 3, 2018 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE MKT: PTN), a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential, today announced that the U.S. Food and Drug Administration (FDA) has notified Palatin that it may proceed with its clinical investigation of subcutaneous injection PL-8177 as a potential treatment for patients with ulcerative colitis. The notice to proceed was received following Palatin's submission of an investigational new drug (IND) application for this program. Palatin expects to commence a Phase 1 single and multiple ascending dose study in the current quarter"