secwatch.observer — SEC 8-K summary
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Issuer:     PALATIN TECHNOLOGIES INC (PTN)
CIK:        0000911216
Form:       8-K
Filed at:   2025-05-08T23:59:59+00:00
Accession:  0001654954-25-005296
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Palatin Technologies delisted from NYSE American; reduced offering raises only $1.1M
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- NYSE American suspended trading and commenced delisting proceedings due to low stock price; shares transitioned to OTC Pink under 'PTNT'.
- Original $11.5M offering (76,666,667 shares at $0.15) collapsed after delisting; net proceeds fell to $1.1M.
- Offering included Series F, G, H warrants with exercise prices $0.30, $0.15, $0.225; potential additional $11.5M from warrant exercise is uncertain.
- Company intends to appeal delisting by May 14, 2025 but no assurance of success; CEO states commitment to business plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/911216/000165495425005296/0001654954-25-005296-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/911216/000165495425005296/ptn_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-25-005296

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer