Palatin Technologies, Inc. Reports Fiscal Year 2008 First Quarter Results; Teleconference and Webcast to be Held on Novemb... (tract revenue fromKing primarily related...)

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Palatin Technologies, Inc. Reports Fiscal Year 2008 First Quarter Results; Teleconference and Webcast to be Held on November 9, 2007

Date:11/9/2007

tract revenue from King, primarily related to reimbursement revenue resulting from Palatin's clinical study activities with bremelanotide.

COSTS AND EXPENSES

Total operating expenses for the quarter ended September 30, 2007 were $9.6 million compared to $13.7 million for the comparable quarter of 2006, reflecting lower development costs of bremelanotide following the completion of certain Phase 2B clinical trials, which were partially offset by other research and development spending and higher stock-based compensation charges.

CASH POSITION

Palatin's cash, cash equivalents and investments totaled $26.6 million as of September 30, 2007, compared to $33.8 million at June 30, 2007.

Palatin Technologies' management will discuss the first quarter financial results and provide an update on corporate developments during a conference call and webcast on November 9, 2007 at 11:00 a.m. ET.

Conference Call and Webcast Access Information

- Q1-Fiscal Year 2008 Conference Call - Live 11/9/2007 at 11:00 a.m. ET

Domestic Dial-In Number 1-800-817-2743

International Dial-In Number 1-913-312-0390

- Q1-Fiscal Year 2008 Conference Call - Replay 11/9-11/16/2007

Domestic Dial-In Number 1-888-203-1112

International Dial-In Number 1-719-457-0820

Replay Passcode 6294841

- Webcast Live and Replay Access http://www.palatin.com

The webcast and replay can be accessed by logging on to the investors

section of Palatin Technologies' website at http://www.palatin.com.

About Palatin Technologies, Inc.

Palatin Technologies, Inc. is a biopharmaceutical company focused on discovering and developing targeted, receptor-specific small molecule and
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SOURCE Palatin Technologies, Inc.
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Palatin Technologies, Inc. Reports Fiscal Year 2008 First Quarter Results; Teleconference and Webcast to be Held on Novemb...(tract revenue fromKing primarily related...)