Palatin Technologies down after launching stock sale

Palatin Technologies

12/02/2025 14:41

** Shares of Delaware-based drug developer Palatin
Technologies  PTN.A  down 11% to 89 cents
    ** Co, which develops treatments of diseases such as
autoimmune and dry eye diseases, launches stock offering 
    ** PTNA to sell up to $6 million common shares through
Alliance Global Partners acting as its sales agent 
    ** Co has ~26.01 mln shares outstanding for a roughly $26
mln market value and ~18.9 mln shares of public float - LSEG
    ** Avg rating among 2 analysts is "buy" with $17 median PT -
LSEG
    ** In the last 12 months, stock has fallen 50.7% 
    
    

 (Reporting by Siddhi Mahatole)
 ((siddhiprabhanjan.mahatole@thomsonreuters.com))