Navigation Links
Palatin Technologies, Inc. Closes $23 Million Public Offering
Date:3/1/2011

CRANBURY, N.J., March 1, 2011 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE Amex: PTN) today announced that it has completed its previously announced public offering of 23,000,000 units, consisting of 23,000,000 shares of its common stock, Series A Warrants to purchase 2,000,000 shares of its common stock and Series B Warrants to purchase 21,000,000 shares of its common stock, at a price to the public of $1.00 per unit. The net proceeds to Palatin from the sale of the units, after deducting underwriting discounts and commissions and other estimated offering expenses, were approximately $21.1 million.

Palatin intends to use the proceeds from this offering for general corporate purposes and working capital, including its clinical trial program with bremelanotide for female sexual dysfunction, and secondarily for its PL-3994 development programs for asthma and a development program for new peptides for sexual dysfunction.

Roth Capital Partners acted as sole book-running manager and Madison Williams and Company acted as co-manager.

The units were offered by Palatin Technologies pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission on February 23, 2011. Electronic copies of the prospectus may be obtained at the Securities and Exchange Commission's website at http://www.sec.gov/. Copies of the prospectus may also be obtained from Roth Capital Partners, LLC Equity Capital Markets, 24 Corporate Plaza, Newport Beach, CA 92660, at 800-678-9147 and Rothecm@roth.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

About Palatin Technologies, Inc.

Palatin Technologies, Inc. is a biopharmaceutical company dedicated to the development of peptide, peptide mimetic and small molecule agonists with a focus on melanocortin and natriuretic peptide receptor systems. 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 www.palatin.com.

Forward-looking Statements

Statements about future expectations of Palatin Technologies, Inc., including statements about its development programs, proposed indications for its product candidates, ability to obtain additional funding, the size and terms of any offering 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 complete this offering, 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©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Palatin Technologies Listing Compliance Plan Accepted by NYSE Amex
2. Palatin Technologies Receives Non-Compliance Letter from NYSE Amex
3. Palatin Technologies to Present at 9th Annual BIO Investor Forum
4. Palatin Technologies to Present at Rodman & Renshaw Annual Global Investment Conference
5. Palatin Technologies, Inc. Announces Positive Safety Results in Subcutaneous Bremelanotide Trial in Men
6. Palatin Technologies, Inc. Receives $2.5 Million from AstraZeneca
7. Palatin Technologies, Inc. To Raise $2.6 Million Dollars in Registered Direct Offering
8. Palatin Technologies, Inc. Announces Dosing of Subcutaneous Bremelanotide Trial in Men
9. Palatin Technologies to Present at 8th Annual BIO Investor Forum
10. Palatin Technologies Presents PL-3994 Clinical Trial Results at the 12th Annual Scientific Meeting of the Heart Failure Association of America
11. Palatin Technologies Initiates Phase 2 Hypertension Clinical Study With PL-3994
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... N.C. , June 24, 2016  Consumers ... decisions and regulators/payers have placed more emphasis on ... environment, patient support programs in the pharmaceutical industry ... patients, medications. Consequently, pharmaceutical companies are focusing on ... they are providing products and services that improve ...
(Date:6/24/2016)... FRANCISCO, Calif. , June 24, 2016 /PRNewswire/ ... ), a biopharmaceutical company developing novel therapeutics for ... unmet needs, today announced the closing of its ... of common stock, at the public offering price ... in the offering were offered by GBT. GBT ...
(Date:6/24/2016)... Dublin - ... " Global Markets for Spectroscopy Equipment" report ... This report focuses on the global market of ... applications in various applications. The report deals with spectroscopy ... industries: pharmaceutical and biotechnology, food and beverage, and environmental ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... ... a legally blind and certified personal trainer is helping to develop a weight loss fitness ... to fix the two major problems leading the fitness industry today:, , ... They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library on June 21 due ... up a new, often overlooked aspect of head lice: the parasite’s ability to live away ... a common occurrence, but a necessary one in the event that lice have simply gotten ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. ... from injury. Recently, he has implemented orthobiologic procedures as a method for treating ... one of the first doctors to perform the treatment. Orthobiologics are substances that ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced ... feelings, many turn to unhealthy avenues, such as drug or alcohol abuse, as a ... has released tools for healthy coping following a traumatic event. , Trauma sufferers tend ...
(Date:6/24/2016)... ... 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 ... by their peers for this recognition are considered among the top 2 percent of ... honors as members of this year’s Legal Elite Hall of Fame: Miami Shareholders ...
Breaking Medicine News(10 mins):