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Palatin Technologies, Inc. Reports Fourth Quarter and Fiscal Year End 2009 Results; Teleconference and Webcast to be held on September 8, 2009
Date:9/8/2009

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                               PALATIN TECHNOLOGIES, INC.
                       Consolidated Statement of Operations Data
                                      (unaudited)


                                Year Ended June 30,     Quarter Ended June 30,
                                  2009          2008        2009         2008

    REVENUES               $11,351,774   $11,483,287  $4,227,070   $1,015,764

    OPERATING EXPENSES:
      Research and
       development          13,356,751    21,187,762   3,045,423    4,891,494
      General and
       administrative        5,296,859     6,928,295   1,415,171    1,460,066
        Total operating
         expenses           18,653,610    28,116,057   4,460,594    6,351,560

        Loss from
         operations         (7,301,836)  (16,632,770)   (233,524)  (5,335,796)

    OTHER INCOME (EXPENSE):
      Investment income        233,319     1,030,452      38,137      122,162
      Interest expense         (26,159)      (73,495)     (5,143)     (28,661)
      Gain on sale of
       property and equipment  550,968             -           -            -
        Total other income,
         net                   758,128       956,957      32,994       93,501

        Loss before income
         taxes              (6,543,708)  (15,675,813)   (200,530)  (5,242,295)
    Income tax benefit       1,741,476     1,291,444           -            -

    NET LOSS               $(4,802,232) $(14,384,369)  $(200,530) $(5,242,295)

    Basic and diluted net
     loss per common share      $(0.06)       $(0.17)     $(0.00)      $(0.06)

    Weighted average number
     of common shares
     outstanding used in
     computing basic and
     diluted net loss per
     common share           86,370,306    85,220,575  86,662,901   85,297,321

                              PALATIN TECHNOLOGIES, INC.
                            Consolidated Balan
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SOURCE Palatin Technologies, Inc.
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