Palatin Technologies Inc (PTNT)

[RFB]

Below is a cut and paste from the most recent 8K. Recommend you check out the wesite and SEC filings.

Bottom-line, for the short term - they are in negotiations with a number of companies, "more than two", to develop a partnership with a large pharma to execute Phase III trials on Brem, their leading candidate. Also many events ongoing in Europe as well as they look to bring the European market into the mix with Brem. Expected to release news within next 60 days as of the last CC. Best of luck to you....exciting times ahead.



CRANBURY, NJ – November 14, 2013 – 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
results for its first quarter ended September 30, 2013.
Recent Highlights
Bremelanotide development for Female Sexual Dysfunction (FSD):
? Successful completion of device bioequivalence trial
? Receipt of a $1.0 million, non-refundable option fee relating to negotiation of a potential future license of bremelanotide in a defined
territory outside North America
? Pivotal Phase 3 clinical trials anticipated to start in the first quarter of calendar year 2014
The Company obtained patents during the quarter:
? U.S. Patent 8,487,073, entitled “Melanocortin Receptor-Specific Peptides for Treatment of Sexual Dysfunction” issued July 16, 2013,
claiming composition of matter on novel peptides for treatment of sexual dysfunction, obesity and related indications
? U.S. Patent No. 8,492,517, entitled “Melanocortin-1 Receptor-Specific Cyclic Peptides” issued July 23, 2013, claiming composition of
matter of lead peptides for treatment of inflammation-related diseases
First Quarter Fiscal 2014 Financial Results
Palatin reported a net loss of $4.5 million, or $(0.04) per basic and diluted share, for the quarter ended September 30, 2013, compared to a net loss of
$10.5 million, or $(0.15) per basic and diluted share, for the same period in 2012.
The decrease in net loss for the quarter ended September 30, 2013 compared to the same period last fiscal year was mainly attributable to the
recognition of a $7.1 million, non-operating expense, in the quarter ended September 30, 2012, which represented the increase in fair value of
warrants issued in connection with Palatin’s private placement that closed on July 3, 2012.
Revenue
There were no revenues recorded in the quarter ended September 30, 2013, compared to $4,000 for the same period in 2012. Revenue consisted
entirely of reimbursement of development costs and per-employee compensation earned at the contractual rate pursuant to Palatin’s license agreement
with AstraZeneca.
Operating Expenses
For the quarter ended September 30, 2013, total operating expenses were $4.5 million compared to $3.4 million for the comparable quarter of
2012. The increase in operating expenses for the quarter ended September 30, 2013 was the result of an increase in costs primarily relating to
Palatin’s bremelanotide for the treatment of FSD program.