Navigation Links
Palatin Technologies, Inc. to Raise $3.1 Million in Registered Direct Offering

CRANBURY, N.J., Aug. 12 /PRNewswire-FirstCall/ -- Palatin Technologies, Inc. (NYSE Amex: PTN) announced today that it will raise approximately $3.1 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses, in a registered direct offering of 9.5 million units, at a price of $0.33 per unit. Each unit will consist of (i) one share of common stock and (ii) a warrant exercisable at any time on or after issuance and on or before the 5 year anniversary of the date of issuance to purchase 0.35 of one share of common stock at an exercise price of $0.33 per share of common stock.

The units were offered and sold pursuant to a prospectus supplement dated August 12, 2009 and an accompanying prospectus dated November 27, 2007, pursuant to the Company's effective shelf registration statement previously filed with the Securities and Exchange Commission.

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), served as the exclusive placement agent for the offering. The closing of the offering is subject to certain conditions, and is expected to occur on or about August 17, 2009.

Net proceeds from the financing will be used primarily for funding research and development, clinical trials, and general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement together with the accompanying prospectus can be obtained at the SEC's website at or from Rodman & Renshaw, LLC by calling 212-356-0549.

About Palatin Technologies, Inc.

Palatin Technologies, Inc. is a biopharmaceutical company focused on discovering and developing targeted, receptor-specific small molecule and peptide therapeutics. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential. For additional information regarding Palatin, please visit Palatin Technologies' website at

Forward-looking Statements

Statements about future expectations of Palatin Technologies, Inc., including statements about its development programs, proposed indications for its product candidates, pre-clinical activities, marketing collaborations, and all other statements in this document other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Palatin intends that such forward-looking statements be subject to the safe harbors created thereby. Palatin's actual results may differ materially from those discussed in the forward-looking statements for various reasons, including, but not limited to Palatin's ability to fund development of its technology, ability to establish and successfully complete clinical trials and pre-clinical studies and the results of those trials and studies, dependence on its partners for certain development activities, need for regulatory approvals and commercial acceptance of its products, ability to protect its intellectual property, and other factors discussed in the Palatin's periodic filings with the Securities and Exchange Commission. Palatin is not responsible for updating for events that occur after the date of this press release.

SOURCE Palatin Technologies, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Palatin Technologies, Inc. Reports Positive Bremelanotide Study; Improved Safety Profile with Subcutaneous Administration
2. Palatin Technologies, Inc. Receives U.S. Patent Allowance for Heart Failure Drug Candidate
3. Palatin Technologies Listing Compliance Plan Accepted by NYSE Alternext US
4. Palatin Technologies to Report Fiscal Year 2009 Second Quarter Results; Conference Call and Webcast on February 17, 2009
5. Palatin Technologies Receives Notification Letter from NYSE Alternext US
6. Palatin Technologies to Report Fiscal Year 2009 First Quarter Results; Conference Call and Webcast on November 17, 2008
7. Palatin Technologies, Inc. Revised Call-In Number for Teleconference and Webcast to be held on September 30, 2008
8. Palatin Technologies, Inc. Reports Positive Results of Phase 2a Clinical Study with PL-3994 for the Treatment of Heart Failure
9. Palatin Technologies Announces New Strategic Objectives and Reports Third Quarter 2008 Financial Results
10. Palatin Technologies to Report Third Quarter, Fiscal Year 2008 Financial Results; Teleconference and Webcast on May 13th
11. Palatin Technologies, Inc. Reports Positive Results of a Phase I Clinical Study With PL-3994 for the Treatment of Congestive Heart Failure
Post Your Comments:
(Date:11/24/2015)... , November 24, 2015 SHPG ) announced ... in the Piper Jaffray 27 th Annual Healthcare Conference in ... 1, 2015, at 8:30 a.m. EST (1:30 p.m. GMT). --> ... Financial Officer, will participate in the Piper Jaffray 27 th ... NY on Tuesday, December 1, 2015, at 8:30 a.m. EST (1:30 ...
(Date:11/24/2015)... , Nov. 24, 2015 /PRNewswire/ - Aeterna ... announced today that the remaining 11,000 post-share consolidation ... Purchase Warrants (the "Series B Warrants") subject to ... exercised on November 23, 2015, which will result ... After giving effect to the issuance of such ...
(Date:11/24/2015)... ... November 24, 2015 , ... InSphero AG, the leading supplier of ... has promoted Melanie Aregger to serve as Chief Operating Officer. , Having ... management team and was promoted to Head of InSphero Diagnostics in 2014. ...
(Date:11/24/2015)... , Nov. 24, 2015 Capricor Therapeutics, ... focused on the discovery, development and commercialization of first-in-class ... Chief Executive Officer, is scheduled to present at the ... at 10:50 a.m. EST, at The Lotte New York ... . . --> ...
Breaking Biology Technology:
(Date:11/19/2015)... Calif. , Nov. 19, 2015  Based on ... Frost & Sullivan recognizes BIO-key with the 2015 Global ... Each year, Frost & Sullivan presents this award to ... line catering to the needs of the market it ... product line meets and expands on customer base demands, ...
(Date:11/18/2015)... 18, 2015 --> ... new market report titled  Gesture Recognition Market - Global ... - 2021. According to the report, the global gesture recognition market was ... to reach US$29.1 bn by 2021, at a CAGR ... North America dominated the global gesture recognition ...
(Date:11/17/2015)... 2015  Vigilant Solutions announces today that Mr. ... Directors. --> --> ... the partnership at TPG Capital, one of the largest ... Billion in revenue.  He founded and led TPG,s Operating ... companies, from 1997 to 2013.  In his first role, ...
Breaking Biology News(10 mins):