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Last $0.83 USD
Change Today -0.0337 / -3.92%
Volume 239.6K
PTN On Other Exchanges
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As of 8:04 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

4B Cedar Brook Drive

Cranbury, NJ 08512

United States

Phone: 609-495-2200

Fax: 609-495-2201

Palatin Technologies, Inc., a biopharmaceutical company, develops targeted, receptor-specific peptide therapeutics for the treatment of various diseases. The company’s programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. The company’s primary product in clinical development is bremelanotide for the treatment of female sexual dysfunction (FSD). In addition, the company has drug candidates or development programs for obesity, erectile dysfunction, cardiovascular diseases, pulmonary diseases, dermatologic diseases and inflammatory diseases. Drug Development Programs The following drug development programs are actively under development: Bremelanotide, an on-demand subcutaneous injectable peptide melanocortin receptor agonist, for treatment of FSD; Use of melanocortin receptor-based compounds for treatment of obesity, under development by AstraZeneca AB (AstraZeneca) pursuant to its research collaboration and license agreement; PL-3994, a peptide mimetic natriuretic peptide receptor A (NPR-A) agonist, for treatment of cardiovascular and pulmonary indications; and Melanocortin receptor-1 (MC1r) agonist peptides, for treatment of inflammatory and dermatologic disease indications. Business Strategy Main elements of the company’s business strategy include the following: using its technology and expertise to develop and commercialize therapeutic products; and entering into alliances and partnerships with pharmaceutical companies to facilitate the development, manufacture, marketing, sale and distribution of product candidates that the company is developing. Patents and Proprietary Information The company owns two issued United States patents claiming the bremelanotide substance; issued patents claiming the bremelanotide substance in Australia, Austria, Belgium, Brazil, Canada, Cyprus, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, Monaco, the Netherlands, New Zealand, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. The issued United States patents have a term until 2020. The company owns a patent application pending in the United States and the World Intellectual Property Organization pursuant to the Patent Cooperation Treaty on methods for treating FSD with bremelanotide. The company owns two issued patents in the United States, Australia, China, Eurasian patent office (for the Russia Federation), and New Zealand claiming an alternative class of melanocortin receptor-specific peptides for treatment of sexual dysfunction, and patent applications on the same class are pending in Brazil, Canada, India, Israel, Japan, Korea, Mexico, and South Africa and before the European patent office. The company also owns an issued patent in South Africa and has pending patent applications for a second class of alternative melanocortin receptor-specific peptides for treatment of sexual dysfunction in the United States, Australia, Brazil, Canada, China, India, Israel, Japan, Korea, Mexico, New Zealand and before the European and Eurasian patent offices. The company owns issued United States and South African patents claiming a narrow class of highly selective MC1r agonist peptides for treatment of inflammation-related diseases and disorders and related indications, and patent applications on two classes of highly selective MC1r agonist peptides which are pending in the United States, Australia, Brazil, Canada, China, India, Israel, Japan, Korea, Mexico, and New Zealand and before the European and Eurasian patent offices. The company owns an issued United States patent claiming the PL-3994 substance and other natriuretic peptide receptor agonist compounds that the company has developed and an issued United States patent claiming a precursor molecule to the PL-3994 substance, both of which have a term until 2027. Corresponding patents on the PL-3994 substance and other natriuretic peptide receptor agonist compounds have issued in Australia, Austria, Belgium, China, Colombia, Denmark, Finland, France, Germany, Hong Kong, Hungary, India, Ireland, Israel, Italy, Japan, Mexico, the Netherlands, the Philippines, Eurasian patent office (for the Russian Federation), South Africa, Spain, Sweden and Switzerland. Patent applications on the PL-3994 substance and other natriuretic peptide receptor agonist compounds are pending in Brazil, Canada, Israel and Korea. Applications claiming precursor molecules for the PL-3994 substance and other compounds have issued in the United States, Australia, France, Germany, India, Ireland, Japan, Mexico, the Netherlands, the Philippines, Korea, South Africa, Sweden, Switzerland and the United Kingdom. Patent applications on the precursor molecules are pending in Brazil, Canada, China, Hong Kong, Israel and before the Eurasian Patent Office. The company also owns an issued United States patent claiming use of the PL-3994 substance for treatment of acute asthma and chronic obstructive pulmonary disease, which has a term until 2031. The company additionally has 21 issued United States patents on melanocortin receptor specific peptides and small molecules. Research and Development The company’s research and development expenses were $10.8 million for the fiscal year ended June 30, 2014. History Palatin Technologies, Inc. was founded in 1986. The company was incorporated in Delaware in 1986.

 

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