Palatin to start clinical development of UC candidate PL-8177; shares up 6% premarket

|About: Palatin Technologies, Inc (PTN)|By:, SA News Editor

Palatin Technologies (NYSEMKT:PTN) is up 6% premarket on average volume on the heels of its announcement that the FDA has signed off on its IND seeking approval to start clinical trials assessing PL-8177 for the treatment of ulcerative colitis (UC).

A Phase 1 single and ascending dose study should start this quarter.

PL-8177 is a selective melanocortin receptor 1 (MC1r) agonist peptide. In other words, it is a modulator of the melanocortin system which plays a key role in appetite and energy expenditure.

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