Categories Earnings, Health Care

Key highlights from Palatin Technologies (PTN) Q3 2020 earnings results

Palatin Technologies, Inc. (NYSE: PTN) reported a narrower loss in the third quarter of fiscal 2020 helped by lower operating expenses as well as higher other income. The bottom line came in line with the analysts’ expectations.

Palatin Technologies (PTN) Q3 2020 earnings review

The company has implemented multiple measures in response to the COVID-19 pandemic to safeguard the health and well-being of employees while continuing to advance its programs. The company anticipates restarting enrollment of phase 2 clinical study of dry eye disease in June 2020 with the data readout is targeted for Q4 of calendar 2020.

Palatin now expects to start a phase 2 proof-of-concept clinical study with an oral formulation of PL8177 in ulcerative colitis patients in the first half of the calendar 2021, with data readout in the first half of the calendar 2022. The company continues its assessment and development work related to the treatment of patients with diabetic retinopathy, with an IND targeted for mid-calendar 2021.

The company now anticipates filing an IND and commencing clinical trials with PL8177 for non-infectious uveitis, for which FDA granted orphan drug designation, in the second half of the calendar 2021. Palatin continues to closely monitor AMAG’s process related to the divestiture of Vyleesi and AMAG’s obligations under the Vyleesi license agreement.

Take a look at our Health Care articles here

Most Popular

Stitch Fix (SFIX) Stock: Will the innovative biz model survive virus-led slump?

The business world is still struggling to come out of the virus-induced slowdown, but it seems almost every retail segment benefited from the pandemic at some point. The vaccination drive

General Mills (GIS): Three factors that are expected to help drive growth for the food company going forward

Shares of General Mills Inc. (NYSE: GIS) were up 3.2% on Wednesday after the company delivered better-than-expected results for the first quarter of 2022. Net sales rose 4% year-over-year to

IPO Alert: Allvue Systems sets IPO terms, to raise around $290 million

It is estimated that the alternative investments industry has expanded at a compound annual rate of 10.2% over the past ten years and had $11 trillion in assets under management

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top