Palatin Technologies Announces Closing of Reduced Public Offering

Company Overview - Palatin Technologies, Inc. is a biopharmaceutical company focused on developing first-in-class medicines that modulate the melanocortin receptor system [6] - The company aims to address diseases with significant unmet medical needs and commercial potential through targeted, receptor-specific product candidates [6] Recent Offering - The company announced the closing of a public offering consisting of 7,324,119 shares of common stock and accompanying warrants at a combined public offering price of $0.15 per share [1] - The offering generated approximately $1.1 million in gross proceeds, which will primarily be used for working capital and general corporate purposes [3] Warrants Details - The Series F Warrants have an exercise price of $0.30 per share, are immediately exercisable, and expire five years from the issuance date [2] - The Series G Warrants have an exercise price of $0.15 per share, are immediately exercisable, and expire either 24 months from the issuance date or at the end of the FDA Exercise Period [2] - The Series H Warrants will be issued upon the exercise of the Series G Warrants, with an exercise price of $0.225 per share and expiring 24 months after issuance [2] Placement Agents - A.G.P./Alliance Global Partners acted as the lead placement agent, while Laidlaw & Company (UK) Ltd. served as the co-placement agent for the offering [3]