Palatin Announces $4.7 Million Registered Direct Offering and Concurrent Private Placement

Group 1 - Palatin Technologies, Inc. has entered into definitive agreements for the purchase and sale of 4,688,000 shares of its common stock at a price of $1.00 per share in a registered direct offering [1][3] - The company will also issue warrants to purchase up to an aggregate of 4,688,000 shares of common stock in a concurrent private placement, with an exercise price of $1.00 per share [2] - The gross proceeds from the offering are expected to be approximately $4.7 million, which will be used for general corporate purposes [3] Group 2 - The registered direct offering is made pursuant to the company's shelf registration statement filed with the SEC, and a prospectus supplement will be available [4] - The private placement of the warrants will rely on an exemption from registration under the Securities Act, meaning the securities may not be offered or sold in the U.S. without an effective registration statement [5] - Palatin is focused on developing first-in-class medicines targeting the melanocortin receptor system for diseases with significant unmet medical needs [7]