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Palatin Technologies Drops 2.85% Amid Delisting Appeal
Generated by AI AgentAinvest Movers Radar
Thursday, Apr 17, 2025 7:54 am ET1min read
On April 17, 2025,
experienced a 2.85% drop in pre-market trading, reflecting investor sentiment and market dynamics.Palatin Technologies has been actively engaged in legal proceedings to appeal the NYSE American's decision to delist its common stock. This appeal has triggered a review period of 60 to 90 days, during which the stock has remained active and seen significant volatility. The company's stock rose approximately 20% following the announcement of the appeal, indicating investor confidence in the company's efforts to remain listed.
Additionally, Palatin Technologies presented promising Phase 2b data for its kidney disease therapy at a national meeting. The results from the BREAKOUT study, which evaluated bremelanotide, a melanocortin receptor agonist, showed encouraging outcomes for patients with Type 2 diabetes and chronic kidney disease. This development highlights the company's progress in its therapeutic pipeline and its commitment to advancing treatments for serious medical conditions.
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