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Palatin Technologies, Inc. Reports Fourth Quarter and Fiscal Year End 2013 Results
Date:9/30/2013

OperationsQuarter Ended June 30,Year Ended June 30,(Unaudited)(Derived from audited financial

statements)2013201220132012REVENUES:License and contract

$
-$
,031$
,361$
73,736OPERATING EXPENSES:Research and development

2,795,0214,130,26410,528,69113,813,376General and administrative

1,925,0791,571,7515,066,8305,045,741Total operating expenses

4,720,1005,702,01515,595,52118,859,117Loss from operations

(4,720,100)(5,690,984)(15,585,160)(18,785,381)OTHER INCOME (EXPENSE):Investment income

5,7173,90442,73432,133Interest expense

(3,665)(3,761)(8,411)(10,411)Increase in fair value of warrants

--(7,069,165)-Gain on disposition of supplies and equipment

-437,5484,620442,248Total other income (expense), net

2,052437,691(7,030,222)463,970Loss before income taxes

(4,718,048)(5,253,293)(22,615,382)(18,321,411)Income tax benefit

--1,753,2081,068,233NET LOSS

$
(4,718,048)$
(5,253,293)$
(20,862,174)$
(17,253,178)Basic and diluted net loss per common share

$
(0.04)$
(0.14)$
(0.21)$
(0.49)Weighted average number of common shares outstanding used in computing basic and diluted net loss per common share

106,435,74134,900,59197,618,71434,900,591 

 

 PALATIN TECHNOLOGIES, INC.and SubsidiaryConsolidated Balance Sheets(Derived from audited financial statements)June 30, 2013June 30, 2012ASSETSCurrent assets:Cash and cash equivalents

$
9,167,632$
3,827,198Short-term investments

5,249,654-Accounts receivable

-27,631Restricted cash

-350,000Prepaid expenses and other current assets

332,267532,010Total current assets

24,749,5534,736,839Property and equipment, net

266,415318,653Other assets

58,131324,992Total assets

$
25,074,099$
5,380,484LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Capita
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SOURCE Palatin Technologies, Inc.
Copyright©2012 PR Newswire.
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