OTC$PTN
Palatin Technologies Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Announced financial results for its fiscal fourth quarter and fiscal year ended June 30, 2022.
Palatin Technologies reported a net loss of $12.8 million for the quarter ended June 30, 2022. Vyleesi gross product sales were $2.3 million, with net product revenue of $770,738. The company's cash and cash equivalents totaled $29.9 million as of June 30, 2022.
- Phase 3 pivotal study of PL9643 in patients with dry eye disease ongoing with positive interim analysis.
- Vyleesi gross product sales increased 79%, net product revenue increased 257% and prescriptions dispensed increased 49%, over the prior quarter.
- Closed on a $15 Million Private Placement of Redeemable Convertible Preferred Stock.
- Patient recruitment initiated in a Phase 2 clinical study of oral PL8177 in patients with ulcerative colitis with an interim analysis and topline results currently expected first half calendar 2023.
Headline financials
Revenue & EPS history
Palatin Technologies · Revenue · Quarterly
$771K
Forward guidance
Palatin is progressing in clinical trials with two novel melanocortin receptor peptides and aims to demonstrate commercial product value in the marketplace with an objective of re-licensing the U.S. rights to a committed women’s healthcare company.
Tailwinds
- Phase 3 pivotal study of PL9643 in patients with dry eye disease ongoing with positive interim analysis
- Topline results from the Phase 3 study of PL9643 is currently expected in the second quarter calendar of 2023
- Interim analysis and topline results from the Phase 2 study of oral PL8177 currently expected in the first half of 2023
- Vyleesi sales continue to grow, with the June 30, 2022, quarter showing significant increases across all value metrics
- Palatin plans to enroll up to an additional 230 patients in the study for a final sample size of 350 patients
Headwinds
- Palatin’s audited financial statements for the year ended June 30, 2022, to be included in the Annual Report on Form 10-K include an audit report from its independent registered public accounting firm, KPMG LLP, that contains a going concern explanatory paragraph.
- Net loss for the quarter ended June 30, 2022, was $12.8 million.
- As of June 30, 2022, the Company had cash and cash equivalents of $29.9 million, compared to $37.7 million as of March 31, 2022 and $60.1 million as of June 30, 2021.
- Total operating expenses were $13.9 million for the quarters ended June 30, 2022 and 2021.
- The $29.9 million of cash and cash equivalents at June 30, 2022, does not include the $15 Million Private Placement of Redeemable Convertible Preferred Stock.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
-2.4%
Avg return
Earnings day
-0.6%
Avg return
5 days after
-2.5%
Avg return
30 days after
31%
20 / 64 earnings
Positive
+36.4%
Q3 2026
Best reaction
-27.1%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +1.2% | +29.2% | +18.2% | |
| Q1 2026 | +0.0% | +27.8% | +152.3% | |
| Q3 2026 | +36.4% | +9.1% | -9.1% | |
| Q3 2025 | +22.2% | +55.6% | +11.1% | |
| Q2 2025 | +7.1% | +4.0% | -20.2% | |
| Q1 2025 | -21.5% | -21.8% | -26.1% | |
| Q4 2024 | -8.3% | -1.1% | +39.3% | |
| Q3 2024 | -15.4% | -15.4% | -24.5% | |
| Q2 2024 | -27.1% | -21.7% | -62.8% | |
| Q1 2024 | -1.0% | -2.5% | +31.3% | |
| Q4 2023 | -8.5% | +19.7% | +13.3% | |
| Q3 2023 | -5.8% | -3.1% | -13.9% | |
| Q2 2023 | -8.8% | -2.2% | -18.0% | |
| Q1 2023 | -9.0% | -5.8% | -25.7% | |
| Q4 2022 | -19.5% | -27.7% | -43.6% | |
| Q3 2022 | -7.7% | -10.3% | -28.2% | |
| Q2 2022 | +5.0% | +0.0% | +2.5% | |
| Q1 2022 | -2.5% | -10.0% | +35.0% | |
| Q4 2021 | -6.4% | -8.5% | -12.8% | |
| Q3 2021 | +9.8% | +13.4% | +10.4% | |
| Q2 2021 | -19.5% | -23.9% | -33.6% | |
| Q1 2021 | +7.3% | +2.4% | +4.9% | |
| Q4 2020 | +0.0% | -4.2% | -20.8% | |
| Q3 2020 | -2.2% | -2.2% | +30.4% | |
| Q2 2020 | -14.1% | -18.3% | -39.4% | |
| Q1 2020 | -4.9% | -2.5% | -1.2% | |
| Q4 2019 | +7.1% | +3.0% | -16.2% | |
| Q3 2019 | +2.2% | +7.9% | -10.1% | |
| Q2 2019 | +2.7% | +6.8% | +36.5% | |
| Q1 2019 | -10.8% | -17.2% | -21.5% | |
| Q4 2018 | -3.8% | -2.9% | -14.3% | |
| Q3 2018 | -4.6% | -7.6% | -22.9% | |
| Q2 2018 | +5.6% | +7.8% | +6.7% | |
| Q1 2018 | +0.0% | +8.7% | +10.0% | |
| Q4 2017 | -6.1% | +0.0% | +15.2% | |
| Q3 2017 | -12.8% | -10.6% | -25.5% | |
| Q2 2017 | -6.8% | -11.4% | -22.7% | |
| Q1 2017 | -5.5% | -5.5% | +1.8% | |
| Q4 2016 | -1.8% | +16.1% | -3.6% | |
| Q3 2016 | -3.6% | — | — | |
| Q2 2016 | +2.0% | — | — | |
| Q1 2016 | -7.7% | — | — | |
| Q4 2015 | -8.5% | — | — | |
| Q3 2015 | +1.1% | — | — | |
| Q2 2015 | +23.0% | — | — | |
| Q1 2015 | +4.0% | — | — | |
| Q4 2014 | -5.0% | — | — | |
| Q3 2014 | -2.6% | — | — | |
| Q2 2014 | -7.0% | — | — | |
| Q1 2014 | +15.3% | — | — | |
| Q4 2013 | -7.0% | — | — | |
| Q3 2013 | +1.6% | — | — | |
| Q2 2013 | -5.9% | — | — | |
| Q1 2013 | +7.9% | — | — | |
| Q4 2012 | -6.3% | — | — | |
| Q4 2010 | -6.3% | — | — | |
| Q3 2011 | +5.0% | — | — | |
| Q3 2012 | +5.0% | — | — | |
| Q2 2012 | -5.9% | — | — | |
| Q2 2011 | -5.9% | — | — | |
| Q1 2012 | -3.8% | — | — | |
| Q1 2011 | -3.8% | — | — | |
| Q4 2011 | -3.8% | — | — | |
| Q3 2010 | -9.4% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro