- Palatin Technologies (NYSEMKT:PTN) share down nearly 7% during premarket trading after the company posted a wider second-quarter loss, as it dealt with higher commercial expenses related to its hypoactive sexual desire disorder treatment Vyleesi.
- The quarterly results were also impacted by the higher expenses related to its PL9643's Phase 2 study for the treatment of dry eye disease.
- The company posted a net loss of $10M in the quarter ended December 31, compared with a net loss of $5.2M in the prior year period.
- As of December 31, 2020, the company had $72.2M in cash and cash equivalents and $4.7M in accounts receivable, compared to $82.9M in cash and cash equivalents and no accounts receivable as of June.
- Previously (Feb. 17): Palatin Tech EPS misses by $0.02.
Palatin Technologies shares slide after wider quarterly net loss
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Symbol | Last Price | % Chg |
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PTN | - | - |
Palatin Technologies, Inc. |