Palatin Q3 FY2023 net loss $7.1M; Vyleesi revenue up 453% YoY; Phase 3 dry eye data positive

PALATIN TECHNOLOGIES INC

Net loss $7.1M ($0.63/share) vs $7.6M ($0.80) prior year; operating expenses $8.5M.
Vyleesi net product revenue $1.2M (+16% QoQ, +453% YoY); gross sales $3.4M (+165% YoY).
Phase 3 PL9643 dry eye lead-in (120 pts) showed statistical separation on signs/symptoms; final data expected H2 2023.
Cash $19.6M plus $1.7M receivables; expects to fund operations through CY2023.
Received $4.7M non-dilutive funding from NJ Economic Development Authority.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PALATIN TECHNOLOGIES INC reported fiscal third quarter ended March 31, 2023 results: revenue net product revenue of $1.2 million.

Period: fiscal third quarter ended March 31, 2023
Revenue: net product revenue of $1.2 million
Result: reported results

Exact text from the filing

For the fiscal third quarter ended March 31, 2023: – Gross product sales were $3.4 million, an increase of 31% over the prior quarter, and an increase of 165% over the comparable quarter last year. – Net product revenue of $1.2 million increased 16% over the prior quarter and increased 453% over the comparable quarter last year.

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Source: SEC EDGAR

accession 0001654954-23-006648

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