Palatin Technologies rises on positive FDA meeting for eye disease drug

Palatin Technologies

29/06/2021 13:25

** Shares of specialty drugmaker  PTN.A  rise 16.4% to 64
cents in premarket trade- set to open at over 2-mth high if
gains hold
    ** Says at an end-of-Phase 2 meeting, co and FDA reached
agreement on all key elements of a pivotal Phase 3 clinical
program for co's drug candidate PL9643  urn:newsml:reuters.com:*:nPn5c8LCHa
    **  Drug intended for the treatment of dry eye disease
(DED)- a condition that occurs when tears are unable to provide
adequate lubrication for the eyes
    ** Co says a potential second Phase 3 study and long-term
safety study were discussed to support a marketing application
for the drug
    ** Says it is on track to start the Phase 3 program in DED
patients during Q4 2021 and is targeting a marketing application
submission in the second half of 2023
    ** PTN had fallen 18.7% YTD, up to the last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))