Palatin Q1 FY2023 net loss $8.3M; Vyleesi revenue up 445% YoY; PL9643 topline Q2 2023

PALATIN TECHNOLOGIES INC

Net loss of $8.3M ($0.86/share) vs $7.1M ($0.75/share) in prior year quarter.
Vyleesi net product revenue $869,654, up 445% YoY; prescriptions dispensed up 17% QoQ.
Phase 3 PL9643 for dry eye: DMC recommends 350-patient study; topline data expected Q2 2023.
Phase 2 oral PL8177 for ulcerative colitis commenced; interim analysis Q1 2023, topline Q3 2023.
Cash $21.2M as of Sep 30; closed $10M offering in Nov 2022; operating cash runway through CY 2023.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PALATIN TECHNOLOGIES INC reported fiscal first quarter ended September 30, 2022 results: revenue $2.3 million, net income $8.3 million, EPS $(0.86) per common share.

Period: fiscal first quarter ended September 30, 2022
Revenue: $2.3 million
Net income: $8.3 million
EPS: $(0.86) per common share
Result: reported results

Exact text from the filing

as of June 30, 2022. · Vyleesi® (bremelanotide injection) for the treatment of Hypoactive Sexual Desire Disorder (HSDD): Gross product sales to pharmacy distributors amounted to $2.3 million, while net product revenue increased 13% and prescriptions dispensed increased 17%, over the prior quarter. 1 Business Highlights and Recent Updates · Anti-Inflammatory /

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Source: SEC EDGAR

accession 0001654954-22-015138

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