**Palatin Technologies Reports First Quarter Fiscal Year 2025 Operating and Financial Results**

On November 14, 2024, Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company focused on developing innovative medicines based on molecules that modulate the melanocortin receptor system, announced its operating and financial results for the fiscal first quarter ended September 30, 2024.

The company provided updates on various programs, including its core focus on obesity, exploration of co-administration studies, and development of novel drug candidates. Palatin’s Phase 2 BMT-801 clinical study, combining MC4R agonist bremelanotide and GLP-1/GIP dual agonist tirzepatide, has completed patient enrollment with topline results expected in the first quarter of the calendar year 2025. Additionally, multiple clinical trials targeting various obesity-related conditions are planned for the upcoming year.

The company also disclosed its programs for dry eye disease, ulcerative colitis, male sexual dysfunction, and diabetic nephropathy. Palatin has engaged an investment bank to evaluate strategic options for non-obesity programs.

Palatin will be conducting a teleconference and webcast on November 14, 2024, at 11:00 a.m. Eastern Time to delve into further details regarding their operational outcomes and corporate advancements.

In terms of financial performance for the quarter ended September 30, 2024, Palatin reported no product sales due to the completion of the Vyleesi asset sale. Total operating expenses were $7.8 million, showing a decrease from the previous quarter, primarily attributed to the elimination of selling expenses related to Vyleesi. Net cash used in operations was $7.0 million for the quarter, with a net loss of $7.8 million, or $(0.39) per basic and diluted common share.

As of September 30, 2024, Palatin’s cash and cash equivalents stood at $2.4 million. The company received a $2.5 million deferred payment related to the Vyleesi sale in November 2024 and is actively exploring various funding sources for its future operational cash requirements.

Palatin Technologies, Inc., is actively focused on developing products to address unmet medical needs and aims to collaborate with industry leaders to optimize commercial outcomes. Interested parties can access the conference call and webcast for detailed discussions and updates on corporate developments.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Palatin Technologies’s 8K filing here.

About Palatin Technologies

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.