Palatin Technologies (PTN) Tops Q3 EPS by 2c

Palatin Technologies (NYSE: PTN) reported Q3 EPS of ($0.02), $0.02 better than the analyst estimate of ($0.04).

"I am excited with Palatin's evolution and development advancements utilizing our proprietary melanocortin agonists to treat patients with inflammatory and autoimmune conditions," stated Carl Spana, Ph.D., President and CEO of Palatin. "We are hosting a KOL webinar on May 21st to introduce our growing portfolio of melanocortin agonists to treat the harmful effects of inflammation in the eye. On the clinical front, we are targeting to commence a Phase 3 trial of PL9643 in patients with dry eye disease in the second half of calendar year 2021. The emerging profile of PL9643, with its rapid therapeutic onset and excellent tolerability profile, is a potentially distinct advantage over commercially available dry eye therapies. In addition, we are targeting to commence a Phase 2 study with an oral formulation of PL8177 in ulcerative colitis patients in the second half of calendar year 2021."

"I am also pleased with the progress we have made with the Vyleesi program," continued Spana. "Our quarter ended March 31, 2021 reflected significant increases in gross sales, net sales, prescriptions, and insurance coverage over the prior quarter."

For earnings history and earnings-related data on Palatin Technologies (PTN) click here.

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