Palatin Technologies, Inc. (the “Company”) (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, announced today that it has formally appealed the NYSE Regulation determination to delist its common stock.
NYSE Regulation determined the Company was unable to demonstrate that it had regained compliance with Sections 1003(a)(i), (ii) and (iii), related to stockholders’ equity requirements, by the end of the maximum 18-month compliance plan period, which expired on April 10, 2025.
Palatin’s common stock will continue to trade on the NYSE American during the appeal process, which is expected to last 60-to-90-days. A final decision from the NYSE Listings Qualifications Panel will determine whether the stock remains listed or is delisted.
Palatin is actively implementing a plan to strengthen its financial position and regain compliance, including:
- Accelerating out-licensing discussions across key development programs
- Advancing equity financing negotiations
- Exploring strategic funding opportunities
“We are moving quickly and deliberately to address the listing requirements,” said Carl Spana, Ph.D., President and Chief Executive Officer of Palatin. “We believe the actions underway can restore compliance and create a stronger foundation for growth.”
There can be no assurance the appeal will be successful. However, the Company is optimistic it will meet the listing requirement and remains committed to delivering value for its shareholders.
