---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-001212"
form_type: "8-K"
ticker: "PTN"
cik: "0000911216"
company_name: "PALATIN TECHNOLOGIES INC"
filed_at: "2024-02-01T23:59:59+00:00"
generated_at: "2026-06-06T12:31:52.438416+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Palatin closes $10M registered direct offering; details Vyleesi sale to Cosette with $12M upfront

## Summary
- Registered direct offering closed Feb 1: 1,831,503 shares at $5.46, gross $10M, net proceeds ~$9.2M.
- Warrants for 1,831,503 shares at $5.46, exercisable after 6 months for 4 years; placement agent warrants 91,575 at $6.825.
- Vyleesi sale to Cosette closed Dec 20: $12M upfront ($9.5M at close, $2.5M in 12 months), up to $159M sales milestones.
- Regulatory milestones up to $10.5M from Fosun (China) and Kwangdong (S. Korea) associated with Vyleesi licensing.
- Net proceeds for working capital; Vyleesi divestiture refocuses pipeline on melanocortin receptor modulators.

## SEC filing metadata
- accession: 0001654954-24-001212
- form_type: 8-K
- ticker: PTN
- cik: 0000911216
- company_name: PALATIN TECHNOLOGIES INC
- filed_at: 2024-02-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/911216/000165495424001212/0001654954-24-001212-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/911216/000165495424001212/ptn_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-001212
- JSON: https://secwatch.observer/filing/0001654954-24-001212.json
- Plain text: https://secwatch.observer/filing/0001654954-24-001212.txt

## Key facts
- Material Agreements
  PALATIN TECHNOLOGIES INC entered into Purchase Agreement with investors named on the signature page thereto (effective 2024-01-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: investors named on the signature page thereto
  - Effective: 2024-01-29
  source text: On January 29, 2024, Palatin Technologies, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the investors named on the signature page thereto, to sell in a registered direct offering (the “RD Offering”), an aggregate of 1,831,503 shares of common stock, $0.01 par value per share (the “Shares”), of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/911216/000165495424001212/0001654954-24-001212-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.