CRANBURY, N.J., Feb. 23, 2011 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE Amex: PTN) today announced that it intends to offer and sell units consisting of shares of its common stock and warrants to purchase common stock in an underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Roth Capital Partners is acting as sole book-running manager for the offering and Madison Williams and Company is acting as co-manager.
Palatin intends to use the proceeds from this offering for general corporate purposes and working capital, including its clinical trial program with bremelanotide for female sexual dysfunction, and secondarily for its PL-3994 development programs for asthma and a development program for new peptides for sexual dysfunction.
The units are being offered by Palatin Technologies pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission ("SEC") on February 23, 2011. A preliminary prospectus relating to the offering has been filed with the SEC in that registration statement and is available on the SEC's website located at www.sec.gov. Electronic copies of the preliminary prospectus relating to this offering may be obtained from Roth Capital Partners, LLC Syndicate Department, 24 Corporate Plaza, Newport Beach, CA 92660, at 800-678-9147 and Rothecm@roth.com. Before you invest, you should read the preliminary prospectus in that registration statement and other documents Palatin Technologies has filed or will file with the SEC for more complete informat
|SOURCE Palatin Technologies, Inc.|
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