Palatin reports Q1 EPS (48c) vs. (86c) last year

Reports Q1 revenue $2.1M vs. $869,654 last year. “We continue to expand and execute on business and product development fronts. Our Phase 3 PL9643 clinical study for DED is fully enrolled, with topline data expected late this calendar year. The Phase 2 study of oral PL8177 in patients with ulcerative colitis is expected to have an interim analysis readout in the first quarter and topline trial results in the second quarter of calendar year 2024,” said Carl Spana, Ph.D., President and CEO of Palatin. “Looking ahead, we are excited to initiate two clinical studies in the first quarter of calendar year 2024 – a Phase 2 study of a melanocortin 4 receptor agonist plus a glucagon like peptide-1 in obese patients and a Phase 2 clinical study evaluating bremelanotide co-formulated with a PDE5 inhibitor, for the treatment of erectile dysfunction (ED) in patients that do not respond to PDE5i monotherapy.” Dr. Spana further commented, “On the commercial front, we are pleased with Vyleesi’s 7th consecutive quarter of double-digit increases across all value metrics, most notably net product revenue, which increased 20%, and prescriptions dispensed increased 14% over the prior quarter. Importantly, Vyleesi’s quarterly net product revenue continues to exceed Vyleesi quarterly operating expenses.”