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Palatin Technologies Advances Its Obesity Pipeline in Q1 2026

Palatin Technologies, Inc., a biopharmaceutical company specializing in melanocortin receptor (MCR) system-based therapies, has recently reported its financial and corporate progress for the first quarter of the fiscal year 2026. During this period, the company has made considerable advancements in its obesity pipeline, announcing a significant collaboration and an upsized public offering.

Key Highlights of the Report

1. Obesity Pipeline Progress
The company’s lead drug candidate, PL7737, which is an oral melanocortin-4 receptor (MC4R) agonist, has shown robust weight loss, excellent safety profiles, and high oral bioavailability in preclinical trials. Palatin aims to submit an Investigational New Drug (IND) application and initiate clinical trials for PL7737 in the first half of 2026. Furthermore, a next-generation selective peptide MC4R agonist is expected to follow suit with its IND filing and trials projected for mid-2026.

2. Collaboration with Boehringer Ingelheim
In August 2025, Palatin entered a research collaboration and licensing agreement with Boehringer Ingelheim focusing on the treatment of retinal diseases. This partnership has already yielded an upfront payment of €2.0 million and a milestone achievement worth €5.5 million in September, with the potential for more future financial benefits.

3. Public Offering Success
The company successfully closed an $18.2 million public offering on November 12, 2025. The offering included common stock and accompanying Series J and Series K warrants. This capital infusion allows Palatin to enhance its balance sheet and streamline operations, aiding growth in the coming years.

4. Resumed Trading on NYSE American
Following compliance with listing standards, Palatin's shares resumed trading under the ticker symbol PTN on the NYSE American on the same day as the offering closure.

Financial Performance Overview

For the quarter ending September 30, 2025, Palatin recognized collaboration and licensing revenues totaling $8.8 million, a stark contrast to $0 reported in the same quarter prior year. This leap in revenue is attributable to the collaboration with Boehringer Ingelheim. Operating expenses, however, decreased to $4.2 million from $7.8 million year-over-year. Notably, Palatin achieved net income of $4.7 million for the quarter, a significant improvement over the $7.8 million loss reported in the previous year.

The company’s cash position as of September 30, 2025, stood at $1.3 million, not including upcoming milestone payments expected from its collaboration with Boehringer Ingelheim, or the proceeds from the recently completed public offering, which together point towards a healthy cash runway into late 2026.

Future Outlook

As Palatin moves forward into 2026, the company emphasizes its strategic position, bolstered by recent financial improvements, partnerships, and a promising pipeline. The management intends to continue leveraging collaborations and maximizing the commercial potential of its innovative therapeutics aimed at addressing significant unmet medical needs, particularly in obesity treatment.

Conclusion

Palatin Technologies is paving the way for advancements in obesity management with its development of first-in-class MC4R therapies. Not only does its recent financial performance reflect a promising trajectory, but collaborative efforts also position the company strategically for future growth and value creation. Investors and stakeholders alike can expect further updates as clinical trials commence and new milestones emphasize progress within this innovative company. For updates, investors can join the planned conference call on November 13 at 11 AM EST, where further insights and information will be shared about corporate developments and financial results.