Palatin Technologies Announces Pricing of Upsized $15.8 Million Public Offering

Core Viewpoint - Palatin Technologies, Inc. has announced the pricing of its underwritten public offering, aiming to raise approximately $15.8 million to support its obesity program and general corporate purposes [1][4]. Offering Details - The offering includes 2,430,769 shares of common stock and Series J and K warrants, priced at $6.50 per share [1][3]. - Series J Warrants have an exercise price of $6.50 and will expire either 18 months after issuance or 31 days after FDA acceptance of a new drug application [2]. - Series K Warrants have an exercise price of $8.125 and will expire five years after issuance, with conditions tied to the Series J Warrants [2]. Financial Implications - The gross proceeds from the offering are expected to be approximately $15.8 million, with an additional potential $15.8 million from the exercise of the Series J Warrants [3][8]. - The company has granted underwriters a 45-day option to purchase an additional 364,615 common shares at the public offering price [3]. Compliance and Trading - The closing of the offering will enable the company to regain compliance with NYSE American listing standards, with trading expected to resume on November 12, 2025, under the symbol "PTN" [5][8]. Underwriting and Registration - A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering [6]. - A registration statement related to the offering was filed with the U.S. Securities and Exchange Commission and became effective on November 5, 2025 [7].