Palatin Technologies(PTN) Prnewswire·2025-02-13 12:30Core Insights - Palatin Technologies, Inc. announced financial results for its fiscal second quarter ended December 31, 2024, and completed database lock for its Phase 2 obesity co-administration study involving MC4R agonist bremelanotide and GLP-1/GIP dual agonist tirzepatide [1][5]. Financial Results - The company did not record any product sales for the second quarter ended December 31, 2024, following the sale of Vyleesi's worldwide rights for up to 4.3 million, with net product revenue of 2.6 million, net of a 0.9 million in the same quarter of the previous year, which included a 2.4 million, or 7.8 million, or 3.4 million, an increase from 9.5 million as of June 30, 2024 [13]. Obesity Programs - The completion of database lock for the Phase 2 obesity study is seen as a significant advancement in providing alternative treatments for obesity, with topline results expected later this month [2][5]. - The company is developing next-generation selective MC4R long-acting peptides and oral small molecules, targeting general obesity, weight loss management, and rare conditions like hypothalamic obesity [6]. - Investigational new drug (IND) enabling activities are expected to commence in the first quarter of 2025, with IND filings anticipated in the second half of 2025 [6]. Other Programs - The company is also advancing programs for dry eye disease, ulcerative colitis, and diabetic nephropathy, with topline data readouts expected for the ulcerative colitis treatment later this quarter [4][14].