Palatin Technologies prices $15.8 million public offering

Palatin Technologies Inc. (OTCQB: PTNT) announced the pricing of its underwritten public offering at $15.8 million, according to a company statement.

The biopharmaceutical company priced 2,430,769 shares of common stock at $6.50 per share, accompanied by Series J and Series K warrants. The offering was led by healthcare-focused institutional investors and included participation from the company's chief executive officer, chief financial officer and certain board members.

Series J warrants carry an exercise price of $6.50 per share and expire either 18 months after issuance or 31 days following FDA acceptance of the company's investigational new drug application for an obesity treatment compound. Series K warrants have an exercise price of $8.125 per share and expire five years after issuance, with certain termination conditions tied to the Series J warrants.

The company may receive additional proceeds of up to $15.8 million if the milestone-related Series J warrants are exercised, though exercise is not guaranteed. Palatin granted underwriters a 45-day option to purchase up to 364,615 additional shares.

The offering is expected to close on November 12, 2025, subject to customary conditions. A.G.P./Alliance Global Partners serves as sole book-running manager, with Laidlaw & Company as lead manager.

Palatin stated it will use net proceeds to support development of its obesity program and for working capital and general corporate purposes. The company develops medicines based on molecules that modulate melanocortin receptor systems.

Upon closing, Palatin expects to regain compliance with NYSE American listing standards and resume trading under the symbol "PTN" on November 12, 2025.

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