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Palatin Technologies, Inc. Reports Third Quarter Fiscal Year 2011 Results
Date:5/16/2011

(3,805,878)$
(2,020,937)$
(9,506,700)$
2,443,873Basic net income (loss) per common share$
(0.17)$
(0.20)$
(0.65)$
.20Diluted net income (loss) per common share$
(0.17)$
(0.20)$
(0.65)$
.20Weighted average number of common shares outstanding used in computing basic net income (loss) per common share22,832,1099,987,32314,669,1319,575,314Weighted average number of common shares outstanding used in computing diluted net income (loss) per common share22,832,1099,987,32314,669,1319,646,791PALATIN TECHNOLOGIES, INC.and SubsidiaryConsolidated Balance Sheets

(unaudited)March 31,2011Pro-formaMarch 31,  2011June 30,2010ASSETSCurrent assets:  Cash and cash equivalents$   22,032,649

$   22,032,649

$
5,405,430  Available-for-sale investments-

-

3,462,189  Accounts receivable-

-

2,879  Prepaid expenses and other current assets539,361

539,361

393,313Total current assets22,572,010

22,572,010

9,263,811Property and equipment, net1,511,892

1,511,892

2,388,365Restricted cash350,000

350,000

475,000Other assets253,403

253,403

261,701Total assets$   24,687,305

$   24,687,305

$
2,388,877LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:  Capital lease obligations$
9,393

$
9,393

$
9,670  Accounts payable 386,261

386,261

155,795  Accrued compensation211,941

211,941

-  Unearned revenue70,796

70,796

-  Accrued expenses1,208,920

1,208,920

2,219,466Total current liabilities1,897,311

1,897,311

2,394,931Capital lease obligations -

-

14,284Warrant liability6,370,555

-

-Deferred rent258,161

258,161

661,389Total liabilities8,526,027

2,155,472

3,070,604Stockholders' equity:  Preferred stock of $.01 par value
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SOURCE Palatin Technologies, Inc.
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Related biology technology :

1. Palatin Technologies, Inc. Reports Positive Results of Phase 2a Clinical Study with PL-3994 for the Treatment of Heart Failure
2. Palatin Technologies, Inc. Revised Call-In Number for Teleconference and Webcast to be held on September 30, 2008
3. Palatin Technologies to Report Fiscal Year 2009 First Quarter Results; Conference Call and Webcast on November 17, 2008
4. Palatin Technologies Receives Notification Letter from NYSE Alternext US
5. Palatin Technologies to Report Fiscal Year 2009 Second Quarter Results; Conference Call and Webcast on February 17, 2009
6. Palatin Technologies Listing Compliance Plan Accepted by NYSE Alternext US
7. Palatin Technologies, Inc. Receives U.S. Patent Allowance for Heart Failure Drug Candidate
8. Palatin Technologies, Inc. Reports Positive Bremelanotide Study; Improved Safety Profile with Subcutaneous Administration
9. Palatin Technologies, Inc. to Raise $3.1 Million in Registered Direct Offering
10. Palatin Technologies to Present at the Rodman & Renshaw 11th Annual Global Investment Conference
11. Palatin Technologies, Inc. to Report Fourth Quarter and Fiscal Year 2009 Results; Teleconference and Webcast to be held on September 8, 2009
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