CRANBURY, N.J., May 13 /PRNewswire-FirstCall/ -- Palatin Technologies, Inc. (Amex: PTN) today reported its financial results for the third quarter ended March 31, 2008 and announced new strategic objectives as part of a restructuring of its clinical-stage product portfolio and development programs. Palatin will continue to develop products targeting melanocortin and natriuretic receptors in the sexual dysfunction, obesity, and cardiovascular fields, including acute hospital care products for use in treatment of acute systemic hypertension, congestive heart failure and hemorrhagic shock. The restructuring focuses the Company's resources on the programs and opportunities that management believes are most likely to increase shareholder value. Additional details will be provided by management in a conference call today at 11:00 a.m. Eastern Time.
Palatin has undertaken a strategic restructuring with the following
elements and objectives:
-- Following a detailed evaluation, including review of regulatory and
commercial information and data on its new melanocortin compounds under
development for sexual dysfunction, Palatin has discontinued
development of bremelanotide for the treatment of male and female
-- Developing bremelanotide as a therapeutic drug for treatment of
hemorrhagic shock and related indications (shock induced by blood loss,
such as secondary to surgery or trauma);
-- Initiating a Phase 2A study this quarter with PL-3994, Palatin's
natriuretic peptide receptor A agonist compound, in patients with
-- Initiating a Phase 2A study of PL-3994 durin
|SOURCE Palatin Technologies, Inc.|
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