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Palatin Technologies, Inc. Reports Fiscal Year 2008 Second Quarter Results; Teleconference and Webcast to be held on February 11, 2008
Date:2/11/2008

2007 2006 2007 2006

REVENUES:

Licenses, grants and

contracts $ 742,835 $ 3,743,109 $ 9,720,566 $ 8,678,211

OPERATING EXPENSES:

Research and

development 3,791,344 9,569,483 11,735,221 21,693,180

General and

administrative 2,329,052 1,654,932 3,988,062 3,217,408

Total operating

expenses 6,120,396 11,224,415 15,723,283 24,910,588

Loss from operations (5,377,561) (7,481,306) (6,002,717) (16,232,377)

OTHER INCOME

(EXPENSE):

Investment income 314,470 227,140 711,091 551,374

Interest expense (12,469) (13,122) (30,698) (23,188)

Total other income,

net 302,001 214,018 680,393 528,186

Loss before income

taxes (5,075,560) (7,267,288) (5,322,324) (15,704,191)

Income tax benefit 1,291,444 778,308 1,291,444 778,308

NET LOSS $(3,784,116) $(6,488,980) $(4,030,880) $(14,925,883)

Basic and diluted net

loss per common

share $ (0.04) $ (0.09) $ (0.05) $ (0.21)

Weighted average number

of common shares

outstanding used in

computing basic and

diluted net loss

per common share 85,204,169 71,055,893 85,190,733 70,967,207

PALATIN TECHNOLOGIES, INC.

Consolidated Balance Sheets

(unaudited)

December 31, June 30,

2007 2007

ASSETS

Current assets:

Cash and cash equivalents $ 20,405,499 $ 31,447,615

Available-for-sale investments
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SOURCE Palatin Technologies, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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