NowGazer

Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company, announced plans to secure $11.5 million in financing to address a delisting notice from the NYSE American exchange. The company aims to use the funds to meet listing requirements and support ongoing operations.​Yahoo Finance+2PR Newswire+2Stock Titan+2Stock Titan

Background

Palatin received a delisting notice from NYSE American due to non-compliance with certain listing standards. To remedy this, the company plans to close a public offering of common stock and warrants, expected to generate $11.5 million in gross proceeds. ​PR Newswire

Use of Proceeds

The funds raised will be utilized to strengthen Palatin’s financial position, support clinical development programs, and ensure compliance with listing standards. The company remains committed to advancing its pipeline of therapeutics targeting various medical conditions.​

Market Implications

Palatin’s proactive approach to addressing the delisting notice demonstrates its commitment to maintaining investor confidence and ensuring continued access to capital markets. The financing move is expected to stabilize the company’s stock and support its long-term strategic goals.​

Conclusion

Palatin Technologies’ $11.5 million financing initiative reflects a strategic effort to address listing compliance issues and reinforce its financial foundation. The company’s focus on advancing its therapeutic programs remains unwavering.