Palatin Technologies Takes Firm Steps to Appeal NYSE Delisting Notice

Palatin Technologies Pursues Appeal Against NYSE Delisting

Cranbury, N.J., April 14, 2025 – In a decisive response to a recent notice issued by NYSE Regulation, Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical firm focused on innovative therapies based on melanocortin receptor systems, has officially contested the decision to delist its common stock. The company has stated it is committed to regaining compliance and has outlined a strategic plan for financial improvement during the appeal period.

In early April, NYSE Regulation determined that Palatin was unable to prove it had met stockholder equity requirements as stipulated in Sections 1003(a)(i), (ii), and (iii) of the NYSE regulations. This determination came after the company failed to comply within the maximum allowed period of 18 months, which concluded on April 10, 2025. Despite this setback, Palatin's common stock will still be eligible for trading on the NYSE American as the appeal unfolds, a process expected to last between 60 to 90 days, until a conclusive ruling from the NYSE Listings Qualifications Panel is reached.

“We are actively working to strengthen our financial standing and fulfill all necessary requirements to meet the NYSE standards,” stated Carl Spana, Ph.D., President and CEO of Palatin Technologies. The company has launched several initiatives aimed at bolstering its market position, which includes engaging in out-licensing discussions regarding key development programs, pursuing equity financing, and scouting for strategic funding avenues.

These developments mark a critical juncture for Palatin, particularly given the competitive nature of the biopharmaceutical sector. The possible outcomes of the appeal could significantly impact the company’s operational strategies and shareholder value. “While we cannot guarantee the success of our appeal, we are optimistic about our path forward,” stated Dr. Spana, underscoring the dedication to enhancing shareholder value amidst challenges.

Despite the looming uncertainty surrounding the delisting decision, Palatin Technologies remains resolute in its mission to deliver effective therapeutic options to patients. The company plans to leverage its innovative research on drugs that influence the melanocortin receptor system, which are pivotal in treating conditions ranging from obesity to metabolic disorders.

The appeal process, coupled with an unwavering commitment to restore compliance with listing requirements, reflects Palatin’s determination to continue its journey in bringing groundbreaking medical solutions to market. As this situation develops, stakeholders remain hopeful for a positive resolution that will secure Palatin's place on the NYSE and further strengthen its commitment to improving health outcomes.

The situation serves as a reminder of the complexities facing biotechnology firms as they navigate regulatory environments while striving to innovate. Industry observers and investors will be keenly watching the developments, as the final decision from the NYSE Listings Qualifications Panel will ultimately determine Palatin's future in the stock market.

Forward-looking Statements: Any statements regarding future expectations from Palatin Technologies may be subject to various risks and uncertainties that could lead to actual outcomes varying significantly from the forecasts. Investors are advised to consider these factors when evaluating the company's projections.

Palatin Technologies® is a registered trademark of Palatin Technologies, Inc.