Palatin Technologies Inc. Stock Rises In Pre-Market Trading

TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

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Palatin Technologies, Inc (PTN) is priced at pennies, but it is making big gains in percentages. On Friday, 25 November 2016, the stock was trading at $0.694, up 18.67% or $0.1092. In early morning trading on Monday, 28 November 2016, the stock advanced a further 5.25%. It was up $0.04 at $0.72 per share. At current prices, this company is worth an estimated $74.98 million. It has a -1.23 price/earnings ratio and a – $0.56 earnings per share. What’s interesting about this stock is that analysts have issued forward guidance of $5.67 for the stock over 1 year. The 52-week trading range for the stock is bearish at $0.36 on the low end and $0.86 on the high end.

So Why Is Palatin Technologies Rallying of Late?

Palatin Technologies is a biopharmaceutical company. It is one of a handful of industries that is making rampant gains under President-elect Donald J. Trump. There are also fundamental factors strengthening this company’s stock price. Several important financial results have been announced, and the efficacy of certain medications have proven positive. For example, Phase 3 Clinical Trials of an HSDD drug (hypoactive sexual desire disorder), known as Bremelanotide are positive. The results are statistically significant and clinically meaningful. The efficacy component of the drug trials was completed in Q3 2016. In terms of financial transactions, gross proceeds totaling $9.25 million were recorded in August 2016 and net proceeds amounted to $8.5 million.

Q1 2017 Results and Future Prospects for Palatin Technologies

The company also announced Q1 2017 financial results. A net loss of $13.1 million was reported which translates into -$0.08 per share. These results were attributable to the financial quarter ending September 30, 2016. This compares unfavorably to the net loss of $12.4 million and the -$0.08 EPS for the same period a year ago. The reasons for the negative performance of the company is increased expenses relating to the development of Bremelanotide. Of equal importance is the zero revenue stream for the fiscal quarters ending in September 2015 and September 2016.

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