Palatin Technologies (PTN) Receives NYSE Non-compliance Notice

Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, today announced it received a notice from the staff of NYSE American LLC (the "Exchange") that Palatin was not in compliance with the Exchange's continued listing standards under Section 1003(a)(iii) of the NYSE American Company Guide. Section 1003(a)(iii) requires a listed company to have stockholders' equity of $6 million or more if the listed company has reported losses from continuing operations and/or net losses in its five most recent fiscal years. Palatin previously reported that it was not in compliance with continued listing standards under Section 1003(a)(i) and (ii).

Palatin remains subject to the procedures and requirements of Section 1009 of the NYSE American Company Guide. Palatin submitted a plan (the "Plan") of actions it has taken or will take to regain compliance with the continued listing standards by April 10, 2025. The Exchange accepted the Plan and granted a Plan period through April 10, 2025 to regain compliance with the continued listing standards, which now includes continued listing standards under Section 1003(a)(iii). Palatin will be able to continue its listing during the Plan period and will be subject to periodic reviews, including quarterly monitoring for compliance with the Plan. Palatin is assessing and exploring multiple funding avenues and is committed to undertaking a transaction or transactions in the future to achieve compliance with the Exchange's requirements.

Receipt of the notice from the Exchange has no immediate effect on the listing or trading of Palatin's common stock on the Exchange, and does not affect Palatin's business, operations or reporting requirements with the U.S. Securities and Exchange Commission.

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