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Palatin (PTN)
:PTN
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Palatin Technologies
(NYSE MKT:PTN)
37Underperform
Positive Factors
Clinical Trials
The completion of the Phase 2 BMT-801 clinical trial is a significant milestone for Palatin as it focuses on the obesity space, which is seen as a key driver of the company's long-term success.
Strategic Focus
Palatin's strategic focus has shifted primarily to its obesity program, which management views as the primary driver of long-term success.
Negative Factors
Clinical Trial Risks
Factors that could impede reaching the price target include failed or inconclusive clinical trials or the inability to secure adequate funding for drug development.
Financial Needs
The company is in talks with sources to address its future operating cash needs.
Palatin Technologies (PTN) vs. S&P 500 (SPY)
Market Cap
$6.13M
Dividend YieldN/A
Average Volume (3M)4.42M
Price to Earnings (P/E)―
Beta (1Y)0.23
Revenue Growth-95.07%
EPS Growth40.41%
CountryUS
Employees30
SectorHealthcare
Sector Strength38
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.12
Shares Outstanding28,148,846
10 Day Avg. Volume3,057,304
30 Day Avg. Volume4,418,053
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.30
Price to Sales (P/S)0.00
P/FCF Ratio-0.10
Enterprise Value/Market Cap-0.07
Enterprise Value/Revenue-0.03
Enterprise Value/Gross Profit-2.30
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$7.00Price Target Upside6900.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Palatin Technologies Business Overview & Revenue Model
Company DescriptionPalatin Technologies, Inc., a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder. It is also developing oral PL8177, a selective MC1r agonist peptide that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases. In addition, the company engages in the development of PL9643, a peptide melanocortin agonist active at multiple MCrs, including MC1r and MC5r for anti-inflammatory ocular indications, such as dry eye disease; and melanocortin peptides for diabetic retinopathy. Further, it is developing PL3994, a natriuretic peptide receptor (NPR)-A agonist and synthetic mimetic of the endogenous neuropeptide hormone atrial natriuretic peptide for cardiovascular indications; and PL5028, an NPR-A and NPR-binder to treat cardiovascular and fibrotic diseases, including reducing cardiac hypertrophy and fibrosis. The company was incorporated in 1986 and is based in Cranbury, New Jersey.
How the Company Makes MoneyPalatin Technologies generates revenue through the commercialization of its FDA-approved product, Vyleesi, which is licensed to AMAG Pharmaceuticals in North America. The company earns income from product sales, royalties, and milestone payments associated with this partnership. Additionally, Palatin seeks to expand its revenue streams by developing and potentially licensing other therapeutic peptide products in its pipeline. The company's financial health is also supported by strategic collaborations and partnerships with other pharmaceutical companies, providing additional funding and resources for its research and development efforts.
Palatin Technologies Financial Statement Overview
Summary
Palatin Technologies faces significant financial challenges across all verticals. The income statement shows persistent losses, while the balance sheet reflects negative equity and potential solvency issues. Cash flow statements reveal weak cash generation, with a heavy reliance on external financing. The company must address these issues to improve financial stability and shareholder value.Income Statement
The income statement reflects significant challenges, with consistent net losses and negative EBIT margins. Gross profit margin showed improvement, but revenue growth is inconsistent, with a significant decline in the TTM period. Overall, the company struggles to achieve profitability, impacting its financial health.35
Negative
Balance Sheet
The balance sheet is concerning, with negative stockholders' equity indicating potential solvency issues. The debt-to-equity ratio is undefined due to negative equity, and total assets have significantly decreased. The company’s high liabilities relative to assets highlight financial instability.25
Negative
Cash Flow
Cash flow analysis shows persistent negative free cash flow and operating cash flow. The company relies on financing activities to manage cash needs. Free cash flow to net income and operating cash flow to net income ratios are negative, suggesting cash generation issues.30
Negative
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 350.00K | 4.49M | 4.85M | 1.47M | -188.60K | 117.99K | Gross Profit |
| 178.21K | 4.39M | 4.44M | 1.25M | -336.44K | -13.84M | EBIT |
| -27.89M | -22.50M | -32.46M | -36.59M | -33.38M | -23.61M | EBITDA |
| -26.53M | -29.03M | -32.46M | -35.68M | -33.38M | -22.04M | Net Income Common Stockholders |
| -26.95M | -29.74M | -27.54M | -35.81M | -33.57M | -22.38M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 10.01M | 9.53M | 10.98M | 29.94M | 60.10M | 82.85M | Total Assets |
| 11.41M | 10.74M | 17.94M | 36.07M | 67.30M | 85.05M | Total Debt |
| 706.64K | 590.34K | 1.05M | 1.15M | 1.25M | 1.27M | Net Debt |
| -9.31M | -8.94M | -6.94M | -28.79M | -58.85M | -81.59M | Total Liabilities |
| 9.83M | 10.85M | 17.81M | 19.80M | 17.65M | 4.88M | Stockholders Equity |
| 1.58M | -111.50K | 134.07K | 16.27M | 49.65M | 80.17M |
| Cash Flow | Free Cash Flow | ||||
| -26.95M | -31.50M | -28.85M | -30.18M | -22.65M | 41.26M | Operating Cash Flow |
| -26.94M | -31.46M | -28.42M | -29.92M | -22.65M | 41.33M | Investing Cash Flow |
| 2.50M | 12.45M | -3.43M | -261.37K | -5.72K | -62.88K | Financing Cash Flow |
| 18.38M | 20.55M | 9.90M | 18.36K | -93.64K | -1.92M |
Palatin Technologies Technical Analysis
Negative
0.10
Price Trends
0.42
Negative
0.71
Negative
0.94
Negative
Market Momentum
-0.08
Negative
35.05
Neutral
53.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PTN, the sentiment is Negative. The current price of 0.1 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.42, and below the 200-day MA of 0.94, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 35.05 is Neutral, neither overbought nor oversold. The STOCH value of 53.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PTN.
Palatin Technologies Risk Analysis
Palatin Technologies disclosed 48 risk factors in its most recent earnings report. Palatin Technologies reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Palatin Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $5.15B | 3.05 | -44.13% | 2.84% | 16.42% | -0.48% | |
48 Neutral | $16.91M | 650.59 | -24.89% | ― | 10081.34% | ― | |
45 Neutral | $11.23M | ― | -83.92% | ― | -67.87% | 0.40% | |
37 Underperform | $13.03M | ― | 354.78% | ― | ― | 64.19% | |
37 Underperform | $6.13M | ― | 422.38% | ― | -95.07% | 40.41% | |
35 Underperform | $14.26M | ― | -58.78% | ― | ― | -126.54% | |
34 Underperform | $14.96M | ― | -616.17% | ― | ― | 71.39% |
* Healthcare Sector Average
Performance Comparison
PTN
Palatin Technologies
0.13
-1.87
-93.50%
LPCN
Lipocine
3.99
-2.05
-33.94%
GOVX
GeoVax Labs
0.98
-0.72
-42.35%
EDSA
Edesa Biotech
2.03
-2.52
-55.38%
BOLT
Bolt Biotherapeutics
0.29
-0.50
-63.29%
CLDI
Calidi Biotherapeutics
0.41
-1.87
-82.02%
Palatin Technologies Earnings Call Summary
Earnings Call Date:Feb 13, 2025
(Q2-2025)
| % Change Since: -89.90%|
Next Earnings Date:May 20, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed view with significant achievements in reducing net loss and promising clinical trial results. However, challenges remain with the absence of product sales and a decrease in cash position. The company is actively pursuing strategic partnerships to enhance its future prospects.Q2-2025 Updates
Positive Updates
Significant Decrease in Net Loss
Palatin Technologies, Inc.'s net loss for the quarter ended December 31, 2024, was $2.4 million compared to a net loss of $7.8 million for the same period in 2023.
Decrease in Net Cash Used in Operations
Net cash used in operations for the quarter ended December 31, 2024, was $4.8 million compared to $10.5 million for the same period in 2023.
Promising Phase 2 Breakout Study Results
71% of patients achieved a greater than 30% reduction in urinary protein to creatinine ratio and improved or stabilized estimated pulmonary filtration rate in a study for diabetic kidney disease.
Strategic Business Development
Significant increase in business development discussions for outlicensing and potential partnerships for the OPL 8177 and ocular melanocortin programs.
Negative Updates
No Recorded Product Sales
Palatin Technologies, Inc. did not record any product sales to pharmacy distributors for the second quarter ended December 31, 2024.
Decrease in Cash Position
Cash and cash equivalents were $3.4 million as of December 31, 2024, compared to $9.5 million as of June 30, 2024.
Fair Value Adjustment Loss
Recorded a fair value adjustment loss of $8.1 million for the quarter ended December 31, 2023.
Company Guidance
During the second quarter fiscal year 2025 call, Palatin Technologies, Inc. provided guidance on several key metrics. They did not report any product sales for the quarter ended December 31, 2024, following the sale of worldwide rights for female sexual dysfunction to CoSette Pharmaceuticals in December 2023. Operating expenses were $2.6 million, net of a $2.5 million gain from the sale by lessee, compared to $0.9 million net of a $7.8 million gain for the same quarter in 2023. Net cash used in operations decreased to $4.8 million from $10.5 million in the previous year, while the net loss was reduced to $2.4 million from $7.8 million. As of December 31, 2024, cash and cash equivalents were $3.4 million, excluding $4.3 million raised in a February 2025 equity offering. Additionally, Palatin is actively seeking multiple funding sources for future operating cash requirements.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.