Categories Earnings, Health Care

Palatin Technologies, Inc. (PTN): Q2 2020 Earnings Snapshot

—  Palatin Technologies, Inc. (NYSE: PTN) reported a loss of $0.02 per share in the second quarter of 2020, vs $0.01 per share loss expected.

— Q2 revenue stood at $20,610, vs $2.54 million expected. The company had no revenues in the corresponding quarter of last year. 

— Operating expenses rose to $5.7 million from to $5.1 million a year ago mainly due to the final payment in connection with the termination of agreement on Vyleesi with Greenhill & Co.

— Palatin is advancing discussions on Vyleesi collaborations for territories outside the currently licensed ones, and anticipates execution in calendar year 2020.

— PTN stock fell 14% on the announcement. 

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