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- The shares of commercial-stage biotech Palatin Technologies, Inc. (NYSE:PTN) jumped ~24% Thursday on above-average volume after the company announced the initiation of its Phase 2 clinical study for PL8177, an oral candidate for ulcerative colitis.
- The trial with a randomized, double-blind, and placebo-controlled design will enroll up to 28 adults with active UC who will receive a once-daily (QD) oral dosing regimen of PL8177 across nearly 22 sites.
- An interim assessment for the first 16 participants who will complete an 8-week evaluation visit is scheduled for Q1 2023. PTN expects to share the full interim data from the study in Q2 2222.
- PTN markets a drug called Vyleesi for hypoactive sexual desire disorder in premenopausal women. Based on preliminary results, the company reported a 225% sequential growth in net product sales for the treatment in Q4 fiscal 2022.