Palatin Technologies Inc. (PTN)

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Well they announced potential stock sale of 25 million which amounts to 11.2% of market cap if completed. This was noted premarket April 23, the day before announcement closing of 1.34. At the current price of 1.13 that is a 15.5+% decrease after announcement. Assuming the dilution is the reason for the price decrease it seems to be over corrected. AMAG applied for the HSDD(sex drug) on March 26(3/26) and stated on the release that it would be up to 60 days until reply was heard from the FDA. Which would mean May 24th this Thursday although on the PTN earnings call they said it was expected early June. Here are the perks if approved "Under the terms of the agreement, Palatin will receive up to $80 million contingent upon achieving certain regulatory milestones, including acceptance of the NDA by the FDA, and up to $300 million contingent upon meeting certain sales milestones. Palatin is also entitled to receive tiered royalties on net sales ranging from high single-digit to low double-digit percentages." So if they get that 80 million it would go up to 1.52 on that cash alone, then you need to factor in the first in class and the potential in billions in future sales. Also risk involved if it doesn't pass, as far as that price goes I don't really know. (Edit: this is potentially a global drug, I am not familiar with other countries standards for drug acceptance, I am assuming that the other countries have less stringent guidelines so the US approval could mean likely approval elsewhere) All my opinion