genital arousal, an increased level of sexual desire and a higher
incidence of engaging in sexual activity compared to placebo.
-- The announcement of results from two Phase 2B trials evaluating
bremelanotide for ED, with one trial limited to non-diabetic patients
and the other to diabetic patients. The primary objective of the
studies was to characterize the efficacy and safety of bremelanotide in
these two ED populations and to identify the doses to use in further
-- The completion of an exclusive global licensing and research
collaboration agreement with AstraZeneca AB to discover, develop and
commercialize small molecule compounds that target melanocortin
receptors for the treatment of obesity, diabetes and related metabolic
syndrome and the receipt of an up-front payment of $10 million.
-- The February 2007 sale of 13.75 million shares of its common stock in
an underwritten offering at $2.00 per share, resulting in net proceeds
to the Company of $25.5 million, after commissions and expenses.
-- The announcement in August 2007 of a delay in plans for the initiation
of Phase 3 clinical trials with bremelanotide for the treatment of ED
as a result of responses from representatives of the U.S. Food and Drug
Administration, which raised serious concerns about the acceptable
benefit/risk ratio to support the progression of bremelanotide into
Phase 3 studies for ED as a first-line therapy in the general
-- The pending termination of the Collaborative Development and Marketing
Agreement with King, effective December 2007, upon which Palatin will
reacquire sole ownership of all rights to bremelanotide, without any
obligation for future payments to King. King has no financial
|SOURCE Palatin Technologies, Inc.|
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