Reports Q2 revenue $1.03M, consensus $1.61M. Palatin believes that existing cash and cash equivalents and receivables will be sufficient to fund currently anticipated operating expenses through 2023. "We continue to execute on our strategy that the melanocortin system is an important mechanism for the resolution of inflammation and promotion of tissue repair," said Carl Spana, CEO. "We currently have three active melanocortin-based clinical programs: our MELODY-1 Phase 3 dry eye disease trial, a Phase 2 ulcerative colitis trial, and a Phase 2 diabetic kidney disease trial, all with data readouts throughout the next five calendar quarters. We are pleased with Vyleesi’s continued quarter over quarter increases across all value metrics, notably net product sales increased 18% and prescriptions dispensed increased 12% over the prior quarter. We are excited that net product revenue of approximately $1M for the quarter ended December 31, 2022, exceeded Vyleesi operating expenses."
Published first on TheFly
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