Palatin Q2 FY2024 net loss $7.8M; Vyleesi sale closed; pipeline catalysts ahead

PALATIN TECHNOLOGIES INC

Net loss of $7.8M ($0.56/share) vs net income of $2.7M ($0.25) in Q2 FY2023.
Vyleesi net product revenue $2.0M (+98% YoY); completed asset sale to Cosette for up to $171M ($12M upfront).
Cash $9.5M + $2.3M AR at Dec 31, 2023; added $9.2M net from Feb 2024 equity offering.
PL9643 Phase 3 dry eye disease topline data expected Feb 2024; PL8177 UC interim analysis Q2 2024.
Phase 2 obesity (MCR4+GLP-1) and ED (bremelanotide+PDE5i) studies to start 1H 2024.

item 2.02 item 9.01

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 the fiscal second quarter ended December 31, 2023 results: revenue $4.3 million.

Period: the fiscal second quarter ended December 31, 2023
Revenue: $4.3 million
Result: reported results

Exact text from the filing

consists of gross product sales of Vyleesi, net of allowances and accruals. Vyleesi gross product sales to pharmacy distributors for the quarter ended December 31, 2023 were $4.3 million, with net product reven

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Source: SEC EDGAR

accession 0001654954-24-001811

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