Palatin slides on 1-for-25 reverse stock split plan

Palatin Technologies

19/08/2022 18:07

** Shares of drug developer Palatin Technologies Inc  PTN.A 
fall 14.6% to $0.26 - set for biggest daily drop this year
    ** Announces 1-for-25 reverse split of its issued and
outstanding common stock, effective 5:00 p.m. ET on Aug. 30
 urn:newsml:reuters.com:*:nPn9955bJa
    ** The reverse stock split will reduce the number of shares
of PTN's common stock outstanding from nearly 231.8 mln to about
9.3 mln
    ** Stock down ~49% YTD, including session's decline

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))