Full Press Release Details
Technologies Announces Closing of License Agreement
AMAG Pharmaceuticals for North American Rights to
Will Also Report Second Quarter 2017 Results and Discuss Next Steps
in its Development Programs
Teleconference and Webcast to be held on February 9,
February 3, 2017 Palatin Technologies, Inc. (NYSE
MKT: PTN) announced the closing of its license agreement with AMAG
Pharmaceuticals, Inc. (Nasdaq: AMAG) for exclusive North American
rights to develop and commercialize Rekynda (bremelanotide),
an investigational product designed for on-demand treatment of
hypoactive sexual desire disorder (HSDD) in pre-menopausal women.
Palatin received an initial payment of $60,000,000 under the
are very pleased and excited to be working closely with AMAG to
complete the activities required to support an NDA filing with the
FDA, said Carl Spana, Ph.D., chief executive officer of
Palatin Technologies. We believe Rekynda will offer an
important therapeutic alternative for pre-menopausal women
suffering from HSDD and we are confident that AMAG's
commercial capabilities and expertise will drive a successful
approval and launch of Rekynda in early 2019.
will hold a conference call and audio webcast on Thursday, February
9, 2017 at 11:00 a.m. Eastern time to discuss its role in further
development and regulatory approval of Rekynda. Management will
also discuss anticipated next steps in Palatin's portfolio of
drug development programs, including its melanocortin
receptor 1 agonist peptides for treatment of inflammatory and
dermatologic disease indications, melanocortin receptor-4 agonist
compounds for treatment of obesity and diabetes, and natriuretic
peptide receptor A agonist compounds for treatment of
cardiovascular and pulmonary indications. The call will also
include a review of Palatin's operating results for its
second fiscal quarter ended December 31, 2016. Palatin will release
its second quarter operating results on Thursday, February 9, 2017,
before the open of the U.S. Financial markets.
Conference Call / Audio Webcast
interested in listening to the conference call live can dial
1-800-500-0311 (US/Canada) or
(International), conference ID 9389688. Individuals interested in
listening to the live conference call via the internet may do so by
logging on to the Investor/Webcasts section of
Palatin's website at http://www.palatin.com.
one hour after the completion of the conference call, a telephone
and audio webcast replay will be available through February 16,
2017. To access the telephone replay, dial 1-888-203-1112
(US/Canada) or 1-719-457-0820 (International), passcode
Palatin Technologies
Technologies, Inc. is a biopharmaceutical company developing
targeted, receptor-specific peptide therapeutics for the treatment
of diseases with significant unmet medical need and commercial
potential. Palatin's strategy is to develop products and then form
marketing collaborations with industry leaders in order to maximize
their commercial potential. For additional information regarding
Palatin, please visit Palatin's website
trademark of Palatin Technologies, Inc.
press release that are not historical facts, including statements
about future expectations of Palatin Technologies, Inc., such as
statements about actions by third parties, clinical trial results,
potential actions by regulatory agencies, financings, projected
operations and other statements containing the words "anticipate,"
"believe," "estimate," "expect," "intend," "may," "plan,"
"predict," "project," "target," "potential," "will," "would,"
"could," "should," "continue," and similar expressions, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and as that term is defined in the Private Securities
Litigation Reform Act of 1995. Palatin intends that such
forward-looking statements be subject to the safe harbors created
thereby. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause Palatin's
actual results to be materially different from its historical
results or from any results expressed or implied by such
forward-looking statements. Palatin's actual results may differ
materially from those discussed in the forward-looking statements
for reasons including, but not limited to, factors discussed in
Palatin's periodic filings with the Securities and Exchange
Commission. Palatin is not responsible for updating for events that
occur after the date of this press release.
Palatin Technologies Investor Inquiries:
Operating Officer / Chief Financial Officer
(609) 495-2200 / info@palatin.com
Palatin Technologies Media Inquiries:
Arndt, MBA, LifeSci Advisors, LLC
(646) 597-6992 / Paul@LifeSciAdvisors.com