Palatin Technologies, Inc. Reports Fiscal Year 2008 First Quarter Results; Teleconference and Webcast to be Held on Novemb...(assets 568796 1008464 ...)

Total current assets 27,674,022 35,387,562

Property and equipment, net 6,084,611 6,070,226

Restricted cash 475,000 475,000

Other assets 250,047 848,446

Total assets $34,483,680 $42,781,234

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Capital lease obligations and notes

payable, current portion $305,538 $216,841

Accounts payable 966,346 1,120,894

Accrued expenses 2,372,604 2,420,837

Accrued compensation 694,165 941,300

Deferred revenue, current portion 1,916,669 4,864,833

Total current liabilities 6,255,322 9,564,705

Capital lease obligations and notes

payable, net of current portion 295,583 275,126

Deferred rent, net of current portion 1,849,125 1,966,628

Deferred revenue, net of current portion 7,222,220 12,443,087

Total liabilities 15,622,250 24,249,546

Stockholders' equity:

Preferred stock of $.01 par value -

authorized 10,000,000 shares; Series A

Convertible; issued and outstanding 4,997

shares as of September 30, 2007 and

June 30, 2007 50 50

Common stock of $.01 par value -

authorized 150,000,000 shares; issued and

outstanding 85,204,169 and 85,126,915

shares as of September 30, 2007 and

June 30, 2007, respectively 852,042 851,269

Additional paid-in capital
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