Palatin rises as mid-stage study of obesity treatment begins

Palatin Technologies

12/06/2024 14:13

** Shares of drug developer Palatin Technologies  PTN.A 
rise 2.7% to $1.90 premarket 
    ** Co says it has begun a mid-stage study of its
experimental obesity treatment, bremelanotide
    ** Study will evaluate safety and efficacy of bremelanotide,
which is given along with tirzepatide, the active ingredient in
Eli Lilly's  LLY.N  popular weight loss treatment Zepbound
    ** Study is expected to enroll up to 60 obese patients who
are actively on tirzepatide at five trial sites in the United
States 
    ** Study's main goal will be to demonstrate treatment's
safety and increased efficacy in reducing body weight - PTN   
    ** Co says topline results are expected by 2024-end
    ** Up to last close, stock down 53.5% YTD 

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))