Quarterly ResultMay 13, 2026, 05:07 PM
Palatin Technologies Q3 Net Loss Narrows to $1.43M; Cash $10.16M
AI Summary
Palatin Technologies reported a significantly reduced net loss for the third quarter and nine months ended March 31, 2026, primarily driven by substantial collaboration and license revenue. The company's cash and cash equivalents increased significantly, and it moved from a stockholders' deficiency to positive equity. This improved financial position is largely due to the Research Collaboration, License and Patent Assignment Agreement with Boehringer Ingelheim.
Key Highlights
- Q3 2026 net loss narrowed to $1.43 million from $4.81 million in Q3 2025.
- Nine-month net loss decreased to $4.02 million from $15.08 million year-over-year.
- Collaboration and license revenue reached $3.92 million in Q3 2026 and $12.88 million for nine months.
- Cash and cash equivalents rose to $10.16 million as of March 31, 2026, from $2.56 million.
- Stockholders' equity turned positive at $10.59 million from a $4.78 million deficiency.
- Net cash used in operations for nine months decreased to $10.84 million from $17.22 million.
- Entered a Research Collaboration, License and Patent Assignment Agreement with Boehringer Ingelheim.
- A 1-for-50 reverse stock split was effective on August 11, 2025.