Palatin Technologies Q2 revenue rises yr/yr, net loss widens

Overview

• Biopharmaceutical firm recorded collaboration revenue in Q2 vs nothing last year

• Company's Q2 operating expenses increased due to obesity program costs

• Company completed $18.2 mln public offering, strengthening balance sheet

Outlook

• Palatin plans IND submission for oral MC4R agonist PL7737 in first half of 2026

• Company targets second half of 2026 for peptide MC4R agonist clinical trials

• Palatin focuses on hypothalamic obesity and Prader-Willi syndrome in clinical studies

Result Drivers

• OBESITY PROGRAM ADVANCEMENTS - Palatin's MC4R-based obesity programs, including PL7737 and next-gen peptide agonists, are progressing toward clinical trials, focusing on hypothalamic obesity and Prader-Willi syndrome

• SUBLICENSING AGREEMENT - Sublicensing of MC1R agonist PL9643 provided $3.8 mln upfront and potential future payments, enhancing focus on obesity portfolio

• PUBLIC OFFERING - Completed $18.2 mln public offering, restoring NYSE American listing compliance and strengthening balance sheet

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Palatin Technologies Inc is $53.00, about 204.8% above its February 13 closing price of $17.39

Press Release: ID:nPn4m3f6Ma

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