PALATIN TECHNOLOGIES INC (PTN): Nasdaq/NYSE listing notice — Palatin receives NYSE American non-compliance notice for insufficient stockholders' equity

PALATIN TECHNOLOGIES INC

Received NYSE American notice on Oct 10, 2023; stockholders' equity below $2M and $4M thresholds.
Must submit compliance plan by Nov 9, 2023; must regain compliance by April 10, 2025.
No immediate effect on trading of PTN common stock; business and SEC reporting unaffected.
Company is assessing funding avenues to achieve compliance, including potential transactions.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

PALATIN TECHNOLOGIES INC received a nyse_american deficiency notice notice regarding stockholders equity (rules 1003(a)(i), 1003(a)(ii), 1009, 1010).

Exchange: nyse american
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 1003(a)(i), 1003(a)(ii), 1009, 1010

Exact text from the filing

October 10, 2023, Palatin Technologies, Inc. (the “Company”) received a letter (the “Letter”) from the staff of NYSE American LLC (the “Exchange”) stating that the Company’s stockholders’ equity as reported in its Annual Report on Form 10-K for the year ended June 30, 2023 (“Form 10-K”) was not in compliance with the Exchange’s continued listing standards under Section 1003(a)(i) and (ii) of the NYSE American Company Guide (the “Company Guide”). Section 1003(a)(i) requires a listed company to have stockholders’ equity $2 million or more if the listed company has reported losses from continuing

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Source: SEC EDGAR

accession 0001654954-23-012913

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