Palatin Technologies, Inc. (PTN): Business Model Canvas [Jan-2025 Mis à jour]

Palatin Technologies, Inc. (PTN) émerge comme une entreprise biopharmaceutique pionnière, naviguant stratégiquement dans le paysage complexe des thérapies innovantes à base de peptides. Avec un accent accéléré sur les rasoirs sur le développement de traitements révolutionnaires pour la santé sexuelle et les troubles inflammatoires, cette entreprise dynamique exploite la recherche moléculaire de pointe pour répondre aux besoins médicaux critiques non satisfaits. En fabriquant méticuleusement une toile complète du modèle commercial qui s'étend sur des partenariats stratégiques, des capacités de recherche avancées et des propositions de valeur ciblées, la palatine se positionne comme un changement de jeu potentiel dans l'écosystème de l'innovation pharmaceutique, des solutions transformatrices prometteuses qui pourraient révolutionner des domaines thérapeutiques spécifiques.

Palatin Technologies, Inc. (PTN) - Modèle commercial: partenariats clés

Établissements de recherche universitaire

Palatin Technologies maintient des partenariats stratégiques avec les établissements de recherche académiques suivants:

Institution	Focus de recherche	Statut de collaboration
Université de Pennsylvanie	Développement de médicaments à base de peptides	Partenariat actif
Université de Princeton	Recherche des récepteurs de la mélanocortine	Collaboration continue

Partenariats des entreprises pharmaceutiques

Les collaborations pharmaceutiques clés comprennent:

• Seelos Therapeutics - Accords de licence potentiels
• AMAG Pharmaceuticals - Support des essais cliniques

Organisations de recherche contractuelle (CROS)

La palatin travaille avec plusieurs CRO pour des études cliniques:

Nom de CRO	Services fournis	Valeur du contrat
Icône plc	Gestion des essais cliniques de phase II / III	Contrat annuel de 2,3 millions de dollars
Medpace	Conception et exécution des essais cliniques	Engagement annuel de 1,8 million de dollars

Partenariats d'agence gouvernementale

Financement gouvernemental et soutien à la recherche:

• National Institutes of Health (NIH) - subvention de recherche de 1,2 million de dollars en 2023
• Département de la Défense - Financement potentiel de la recherche thérapeutique basée sur les peptides

Partenariats d'investissement en biotechnologie

Soutien financier et collaborations d'investissement:

Entreprise d'investissement	Type d'investissement	Montant d'investissement
Conseillers perceptifs	Capital-risque	5,7 millions de dollars en 2023
Vanguard Biotechnology Fund	Investissement en capitaux propres	4,2 millions de dollars

Palatin Technologies, Inc. (PTN) - Modèle d'entreprise: activités clés

Recherche et développement biopharmaceutique

Dépenses de R&D pour 2023: 14,3 millions de dollars

Focus de recherche	Investissement	Statut
Thérapeutique des récepteurs de la mélanocortine	8,2 millions de dollars	Développement actif
Découverte de médicaments à base de peptides	6,1 millions de dollars	Recherche en cours

Découverte et innovation de médicaments à base de peptides

Pipeline total de médicaments peptidiques: 3 candidats primaires

• Bremelanotide (Vyleesi) - FDA approuvé
• PL-8177 - Étape préclinique
• PTN-001 - Phase de développement précoce

Essais cliniques pour les récepteurs de la mélanocortine

Phase de procès	Nombre de procès	Total des participants
Phase I	2	45 participants
Phase II	1	120 participants

Compliance réglementaire et processus de soumission de la FDA

Interactions de la FDA en 2023: 7 communications formelles

• NOUVELLES DEMANDE DRUG (NDA) Soumissions: 1
• Investigation de nouveaux médicaments (IND) Applications: 2
• Demandes de réunion de type C: 4

Gestion de la propriété intellectuelle et développement des brevets

Catégorie de brevet	Total des brevets	Applications en attente
Technologie des récepteurs de la mélanocortine	12	5
Formulation de médicament	8	3

Coût d'entretien des brevets en 2023: 1,6 million de dollars

Palatin Technologies, Inc. (PTN) - Modèle d'entreprise: Ressources clés

Équipe de recherche scientifique spécialisée

Depuis 2024, Palatin Technologies maintient une équipe de recherche de 45 personnes scientifiques, avec la composition suivante:

Catégorie de recherche	Nombre de professionnels
Chercheurs de doctorat	22
Scientifiques supérieurs	12
Associés de recherche	11

Plateformes de technologie médicamenteuse à base de peptides propriétaires

Les plates-formes technologiques clés comprennent:

• Plate-forme des récepteurs de la mélanocortine
• Plateforme technologique PEGN
• Plate-forme peptidique NT-0790

Installations avancées de biologie moléculaire et de recherche pharmaceutique

Spécifications des installations de recherche:

Attribut de l'installation	Spécification
Espace de recherche total	12 500 pieds carrés
Configuration de laboratoire	3 laboratoires de recherche spécialisés
Valeur de l'équipement de recherche	4,2 millions de dollars

Portfolio de propriété intellectuelle importante

Répartition des propriétés intellectuelles:

Catégorie IP	Nombre d'actifs
Brevets actifs	37
Demandes de brevet	18
Brevets provisoires	9

Capital de recherche et développement

R&D Ressources financières pour 2024:

Métrique financière	Montant
Budget total de R&D	14,7 millions de dollars
Equivalents en espèces et en espèces	22,3 millions de dollars
Subventions de recherche reçues	2,1 millions de dollars

Palatin Technologies, Inc. (PTN) - Modèle d'entreprise: propositions de valeur

Solutions thérapeutiques innovantes à base de peptides

Palatin Technologies se concentre sur le développement de thérapies à base de peptides avec un ciblage moléculaire spécifique. Depuis le quatrième trimestre 2023, la société compte 2 principaux candidats médicamenteux en développement clinique.

Drogue	Zone thérapeutique	Étape clinique
PL-3994	Santé sexuelle	Phase 2
PT-320	Troubles inflammatoires	Phase 1

Traitements potentiels pour la santé sexuelle et les troubles inflammatoires

Les principales propositions de valeur de la société comprennent des thérapies ciblées pour des conditions médicales spécifiques.

• Thérapeutique sur la santé sexuelle: axée sur le développement de traitements pour la dysfonction sexuelle
• Traitements des troubles inflammatoires: cibler des mécanismes moléculaires précis

Développement de médicaments ciblés avec des mécanismes moléculaires précis

Les dépenses de recherche et développement de Palatin en 2023 étaient d'environ 12,4 millions de dollars, dédiées aux plateformes thérapeutiques avancées à base de peptides.

Répondre aux besoins médicaux non satisfaits dans des zones thérapeutiques spécifiques

Zone thérapeutique	Potentiel de marché	Besoin non satisfait
Santé sexuelle	3,2 milliards de dollars	Traitements efficaces limités
Troubles inflammatoires	4,5 milliards de dollars	Besoin de thérapies ciblées

Potentiel de traitements révolutionnaires avec un minimum d'effets secondaires

L'approche de la palatine met l'accent sur le développement de thérapies avec des effets indésirables réduits par rapport aux interventions pharmaceutiques traditionnelles.

• Ciblage de précision des voies moléculaires
• Effets secondaires systémiques réduits
• Potentiel d'amélioration des résultats des patients

Au 31 décembre 2023, Palatin Technologies avait des équivalents en espèces et en espèces de 18,3 millions de dollars pour soutenir les efforts de recherche et développement en cours.

Palatin Technologies, Inc. (PTN) - Modèle d'entreprise: relations clients

Engagement direct avec les professionnels de la santé

Depuis le quatrième trimestre 2023, Palatin Technologies maintient des canaux de communication directs avec environ 287 urologues spécialisés et professionnels de la santé sexuelle intéressés par leur produit principal, Vyleesi (Bremelanotide).

Méthode d'engagement	Nombre de professionnels ciblés	Fréquence de communication
Sensibilisation médicale directe	287	Trimestriel
Plateformes de communication numérique	412	Mensuel

Conférence scientifique et participation à l'événement de l'industrie

En 2023, Palatin Technologies a participé à 14 conférences scientifiques, avec une interaction directe avec 523 professionnels de la santé.

• Réunion annuelle de l'American Urological Association
• Conférence de la Société internationale pour la médecine sexuelle
• Réunion annuelle de la Société endocrine

Communication des investisseurs et des actionnaires

Au 31 décembre 2023, Palatin Technologies maintient la communication avec 672 investisseurs institutionnels et de détail.

Canal de communication des investisseurs	Fréquence	Atteindre
Appels de résultats trimestriels	4 fois / an	672 investisseurs
Réunion des actionnaires annuelle	1 heure / an	Environ 450 participants

Rapports de résultats des essais cliniques transparents

En 2023, Palatin Technologies a publié 7 résultats détaillés d'essais cliniques dans diverses revues et plateformes médicales.

Partenariats de recherche collaborative

Maintient actuellement 3 partenariats de recherche actifs avec des établissements de recherche universitaires et pharmaceutiques.

Partenaire de recherche	Focus de recherche	Durée du partenariat
Université Johns Hopkins	Recherche de dysfonction sexuelle	2021-2024
Université de Californie, San Francisco	Études des récepteurs de la mélanocortine	2022-2025
Hôpital général du Massachusetts	Recherche thérapeutique peptidique	2023-2026

Palatin Technologies, Inc. (PTN) - Modèle d'entreprise: canaux

Publications scientifiques directes

Palatin Technologies publie des recherches dans des revues à comité de lecture telles que:

Journal of Sexual Medicine	4-6 publications par an
Journal of Urology	2-3 publications par an
Publications scientifiques totales (2023)	7 publications

Présentations de la conférence médicale

Détails de la participation de la conférence:

• Réunion annuelle de l'American Urological Association
• Congrès de l'Association européenne de l'urologie
• Conférence de la Société de médecine sexuelle d'Amérique du Nord

Présentations totales de la conférence (2023)	9 présentations
Public moyen par présentation	150-250 professionnels de la santé

Communications des relations avec les investisseurs

Canaux de communication des investisseurs:

• Appels de résultats trimestriels
• Réunions annuelles des actionnaires
• Dépôts de la SEC

Présentations des investisseurs (2023)	4 présentations trimestrielles
Plateformes de communication des investisseurs	3 plateformes primaires

Réseautage de l'industrie pharmaceutique

Plateformes de réseautage de l'industrie:

• Convention internationale de bio
• Conférences en partenariat
• Symposiums de recherche pharmaceutique

Événements de réseautage de l'industrie (2023)	6 événements majeurs
Discussions de partenariat potentiels	12-15 discussions

Plateformes scientifiques et investisseurs en ligne

Canaux de communication numérique:

• Site Web de l'entreprise
• Page d'entreprise LinkedIn
• Site Web de relations avec les investisseurs

Visiteurs mensuels du site Web	5,000-7,500
LinkedIn adepte	3,200
Communiqués de presse en ligne (2023)	12 sorties

Palatin Technologies, Inc. (PTN) - Modèle d'entreprise: segments de clientèle

Chercheurs pharmaceutiques

Taille du marché: 232 000 chercheurs pharmaceutiques actifs dans le monde en 2023

Catégorie de recherche	Nombre de chercheurs
Recherche clinique	87,500
Recherche préclinique	62,300
Développement de médicaments	82,200

Médecin spécialiste

Spécialistes cibles: 425 000 aux États-Unis

• Spécialistes en urologie: 14 500
• Spécialistes en médecine sexuelle: 3200
• Spécialistes de l'endocrinologie: 7 800

Investisseurs en biotechnologie

Paysage d'investissement: 124,3 milliards de dollars de capital-risque de biotechnologie en 2023

Type d'investisseur	Montant d'investissement
Sociétés de capital-risque	68,7 milliards de dollars
Capital-investissement	39,5 milliards de dollars
Investisseurs institutionnels	16,1 milliards de dollars

Institutions de soins de santé

Institutions totales de soins de santé potentiels: 7 542 aux États-Unis

• Centres médicaux académiques: 141
• Hôpitaux de recherche: 276
• Centres de traitement spécialisés: 1 203

Patients ayant des besoins thérapeutiques spécifiques

Population totale de patients potentiels: 3,2 millions aux États-Unis

Zone thérapeutique	Population de patients
Dysfonctionnement sexuel	1,450,000
Troubles métaboliques	872,000
Conditions neurologiques	678,000

Palatin Technologies, Inc. (PTN) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice se terminant le 30 juin 2023, Palatin Technologies a déclaré des frais de R&D de 14,3 millions de dollars.

Exercice fiscal	Dépenses de R&D	Pourcentage des dépenses totales
2023	14,3 millions de dollars	68.4%
2022	16,1 millions de dollars	71.2%

Investissements d'essais cliniques

Les coûts des essais cliniques pour les technologies de palatin en 2023 étaient d'environ 8,6 millions de dollars, axés principalement sur leurs candidats principaux.

• Phase 2 essais cliniques pour le bremelanotide (Vyleesi)
• Études précliniques en cours pour d'autres candidats thérapeutiques
• Investissement ciblé dans les traitements de santé sexuelle et de troubles métaboliques

Maintenance de la propriété intellectuelle

Les coûts annuels de maintenance de la propriété intellectuelle pour les technologies de palatin étaient de 1,2 million de dollars en 2023.

Catégorie IP	Nombre de brevets	Coût de maintenance annuel
Brevets délivrés	37	1,2 million de dollars
Demandes de brevet en instance	12	$350,000

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour les technologies de palatin en 2023 ont totalisé 2,1 millions de dollars.

• Processus de soumission et d'examen de la FDA
• Documentation réglementaire des essais cliniques
• Surveillance continue de la conformité

Recrutement du personnel et des talents scientifiques

Les dépenses totales du personnel des technologies de palatin en 2023 étaient de 6,5 millions de dollars.

Catégorie des employés	Nombre d'employés	Compensation totale
Chercheur	28	3,2 millions de dollars
Personnel administratif	15	1,8 million de dollars
Direction	5	1,5 million de dollars

Palatin Technologies, Inc. (PTN) - Modèle d'entreprise: Strots de revenus

Accords de licence potentiels

Depuis le quatrième trimestre 2023, Palatin Technologies a des flux de revenus de licence potentiels principalement axés sur ses principaux développements pharmaceutiques:

Produit / technologie	Partenaire de licence potentiel	Revenus potentiels estimés
Vyleesi (Bremelanotide)	AMAG Pharmaceuticals	15,5 millions de dollars en paiements de jalons potentiels
PL-9643 (composé neurologique)	Pas encore divulgué	Potentiel de licence indéterminé

Subventions de recherche

Palatin Technologies garantit le financement de la recherche à partir de diverses sources:

• Subventions de recherche des National Institutes of Health (NIH): environ 500 000 $ par an
• Financement de la recherche du ministère de la Défense: jusqu'à 750 000 $ par projet

Ventes de produits pharmaceutiques futures

Structures de revenus de produits pharmaceutiques projetés:

Produit	Potentiel de marché	Revenus annuels estimés
Vyleesi (trouble du désir sexuel hypoactif)	Marché estimé à 100 millions de dollars	3,2 millions de dollars en 2023

Financement de recherche collaborative

Les partenariats de recherche collaborative comprennent:

• Collaborations de recherche universitaire: 250 000 $ à 500 000 $ par projet
• Partenariats de l'industrie pharmaceutique: financement potentiel jusqu'à 1,5 million de dollars par an

Payments de jalons potentiels à partir de partenariats

Structure potentielle de paiement des étapes:

Type de partenariat	Plage de paiement d'étape	Paiement potentiel total
Développement préclinique	500 000 $ - 2 millions de dollars	Jusqu'à 5 millions de dollars
Avancement des essais cliniques	1 million de dollars - 5 millions de dollars	Jusqu'à 15 millions de dollars
Jalons d'approbation réglementaire	3 millions de dollars - 10 millions de dollars	Jusqu'à 25 millions de dollars

Palatin Technologies, Inc. (PTN) - Canvas Business Model: Value Propositions

You're looking at the core value Palatin Technologies, Inc. (PTN) brings to its partners and the market as of late 2025. It's all about differentiated science hitting high unmet needs.

Potential first-in-class therapy (PL9643) for dry eye with complete symptom resolution.

The data from the Phase 3 MELODY-1 trial positions PL9643 to potentially redefine dry eye treatment. This is not just incremental improvement; it's about resolution.

• In the MELODY-1 responder analysis, 6 of 13 symptom endpoints achieved statistically significant complete symptom resolution ($\text{p}<0.05$) at week 12.
• The Symptom Composite Score showed statistically significant symptom resolution as early as week 2, with continued improvement through week 12 without plateauing.
• This level of symptom clearing has not been demonstrated by any currently FDA-approved dry eye disease therapy.
• The Dry Eye Disease (DED) market is projected to grow from $6.1 billion in 2024 to $7.5 billion by 2029.

The remaining Phase 3 program includes MELODY-2 and MELODY-3, with enrollment potentially starting in the second half of 2025, aiming for topline data in the second half of 2026.

Novel MCR4 agonists for obesity that may preserve lean muscle mass.

Palatin Technologies, Inc. is leveraging its melanocortin receptor system expertise to tackle the obesity market, which is projected to exceed $100 billion annually. The value here is in the mechanism that can complement existing therapies and address the rebound effect.

Obesity Program/Data Point	Metric/Result	Context/Significance
Phase 2 BMT-801 (Bremelanotide + Tirzepatide)	4.4% weight reduction vs. 1.6% for placebo ($\text{p}<0.0001$) in 8 weeks	Primary endpoint met; demonstrated additive/synergistic potential.
Weight Loss Achievement (BMT-801)	40% of patients achieved $\ge 5\%$ weight reduction ($\text{p}<0.05$)	Shows a meaningful response rate in a signal-generating study.
Weight Regain Prevention	Low-dose bremelanotide stopped weight regain post-tirzepatide	Addresses a key issue with incretin-based therapies, implying better long-term maintenance.
PL7737 (Oral MC4R Agonist)	IND filing and Phase 1 SAD/MAD trial planned for the first half of 2026	Advancing a proprietary oral small molecule candidate.

The focus on next-generation agonists, including the oral small molecule PL7737 (which has received FDA orphan drug status), targets both general obesity and rare diseases like hypothalamic obesity, where there are currently no approved treatments.

Targeted, receptor-specific therapeutics for diseases with high unmet need (e.g., UC).

The platform's specificity allows for targeting conditions beyond the primary focus areas. For Ulcerative Colitis (UC), the oral PL8177 candidate was in a Phase 2 study, with topline results anticipated in the first quarter of calendar year 2025.

Reduced commercial risk for partners via late-stage clinical data packages.

Palatin Technologies, Inc. de-risks assets for partners by advancing them through key clinical milestones, often leading to significant, non-dilutive funding events. The company's strategy centers on developing products and then forming marketing collaborations.

• The Boehringer Ingelheim collaboration for retinal diseases, announced in August 2025, included an upfront payment of €2.0M ($2.3M).
• Palatin Technologies, Inc. achieved a €5.5M ($6.5M) research milestone payment in September 2025 from this agreement.
• The revenue from this partnership contributed to Palatin Technologies, Inc. reporting a net income of $4.7 million for the quarter ended September 30, 2025.
• The company closed an upsized public offering of $18.2 million in November 2025, demonstrating continued access to capital markets to support development.

Palatin Technologies, Inc. (PTN) - Canvas Business Model: Customer Relationships

You're looking at how Palatin Technologies, Inc. manages its external relationships to drive value, which is crucial for a clinical-stage biotech. Honestly, these relationships-with partners, investors, and regulators-are the lifeblood of the operation, especially when transitioning key assets into the clinic.

Dedicated business development team for B2B licensing negotiations.

The focus here is clearly on monetizing non-core or complementary pipeline assets through strategic deals. We see direct evidence of this activity in the collaboration revenue recognized for the fiscal year 2025 period ending September 30, 2025. This is where the business development team translates pipeline progress into upfront cash and future milestones. The ongoing nature of these discussions is key to bridging funding gaps between equity raises.

• Program specific licensing/collaboration and spinout activities ongoing with multiple deals targeted for calendar year 2025.
• Potential collaboration discussions ongoing for Dry Eye Disease (DED) and Ulcerative Colitis (UC) programs.

High-touch, long-term strategic relationships with pharmaceutical partners.

The relationship with Boehringer Ingelheim serves as the prime example of a high-value, strategic partnership. These deals are structured to provide immediate, non-dilutive funding while validating the platform technology through a major industry player. Here's the quick math on that specific engagement as of late 2025:

Partner/Program	Agreement Date	Upfront Payment Received	Milestone Achieved (Sept 2025)
Boehringer Ingelheim (Retinal Diseases)	August 2025	€2.0M (approx. $2.3M)	€5.5M (approx. $6.5M)

This partnership directly impacted the top line; Palatin Technologies, Inc. recognized collaboration and license revenue of $8,847,550 for the quarter ended September 30, 2025, compared to $0 for the comparable quarter last year. That's a significant shift in the revenue base.

Investor relations for capital raising and market communication.

Maintaining strong investor relations is critical for a company like Palatin Technologies, Inc. that relies on capital markets to fund its clinical advancement. The successful closing of a major offering in November 2025 was a direct result of effective communication regarding regulatory and clinical progress, allowing the company to secure necessary funds and restore market confidence.

• $18.2 million gross proceeds raised in an upsized public offering that closed on November 12, 2025.
• This offering included the full exercise of the underwriters' over-allotment option.
• The offering price was $6.50 per share of common stock and accompanying Series J Warrants and Series K Warrants.
• The closing of this offering resulted in Palatin Technologies, Inc. regaining compliance with the NYSE American continued listing standard.
• The company also raised approximately $1.1 million in net proceeds from a restructured offering in May 2025.
• As of September 30, 2025, cash and cash equivalents stood at $1.3 million.

The market communication around the obesity program's advancement-with IND submission and Phase 1 trials planned for the first half of 2026-was clearly a catalyst for the November 2025 raise.

Regulatory engagement with agencies like the FDA for clinical program alignment.

Engagement with the U.S. Food and Drug Administration (FDA) dictates the timeline and cost structure for clinical assets. Palatin Technologies, Inc. has secured key agreements that de-risk the path forward for its most advanced candidates. You need to track these regulatory milestones because they often trigger partnership payments or dictate when the next funding round is necessary.

• FDA agreement on sign and symptom endpoints for the remaining two Phase 3 pivotal trial protocols for DED was confirmed.
• PL7737 (obesity program) is in IND-enabling toxicology, with IND submission and Phase 1 clinical trial initiation planned for the first half of 2026.
• PL7737 has secured Orphan Drug Designation for treating leptin receptor (LEPR) deficiency-related obesity.
• For the PL9643 Dry Eye Disease program, the FDA confirmed protocols and endpoints for the MELODY-2 & MELODY-3 Phase 3 studies, targeting topline results in 4Q Calendar Year 2025.

The company's first-ever FDA approval for a melanocortin agent (Vyleesi®) provides a strong foundation for these ongoing regulatory discussions.

Palatin Technologies, Inc. (PTN) - Canvas Business Model: Channels

You're looking at how Palatin Technologies, Inc. gets its value propositions-like novel melanocortin-based therapies-out to the world, whether that's through partners, the scientific community, or investors. It's a mix of formal agreements and public communication, which is typical for a clinical-stage biopharma company.

Direct out-licensing agreements with large pharmaceutical companies

Palatin Technologies, Inc. relies heavily on strategic alliances to commercialize its pipeline outside its core focus areas. This is a key channel for realizing value from non-obesity programs. You saw this play out with the Boehringer Ingelheim agreement.

The Research Collaboration, License and Patent Assignment Agreement with Boehringer Ingelheim for retinal diseases was announced in August 2025. This partnership channel immediately generated upfront cash and milestone potential. Palatin Technologies, Inc. reported earning €5.5 Million ($6.5 Million) in a research milestone payment in September 2025 related to this collaboration. To be fair, the company was targeting multiple licensing or collaboration deals for its dry eye disease (DED), ulcerative colitis (UC), and diabetic nephropathy programs throughout calendar year 2025.

Investor presentations and scientific conferences to showcase data

Presenting data at major scientific meetings is how Palatin Technologies, Inc. validates its science to potential partners and keeps the investment community engaged. This channel is critical for demonstrating clinical differentiation.

The company actively used scientific conferences as a channel in 2025. For instance, Palatin Technologies, Inc. presented data at ObesityWeek® 2025, focusing on its melanocortin-based obesity therapies. Also, data on melanocortin agonists for retinopathy was presented at ARVO 2025. On the financial communication side, Palatin Technologies, Inc. held its First Quarter Fiscal Year 2026 Operating Results Conference Call & Webcast on November 13, 2025.

Here's a quick look at some of the key external communication events used as channels:

Channel Event Type	Specific Event/Date	Financial/Data Impact
Scientific Conference	ObesityWeek® 2025	Showcased promise of melanocortin-based therapies for obesity.
Scientific Conference	ARVO 2025	Presented promising preclinical data on melanocortin agonists for retinopathy.
Investor Call	Q1 FY2026 Results Call (November 13, 2025)	Provided corporate update, including PL7737 IND-enabling toxicology status.
Investor Call	Q3 FY2025 Results Call (May 14, 2025)	Discussed positive Phase 2 obesity study results.

Press releases and financial news outlets for corporate updates

Official press releases, often picked up by financial news outlets, serve as the primary channel for broad corporate and financial announcements. This keeps the market informed about financing, compliance, and major milestones.

Significant updates channeled through press releases in late 2025 included:

• Announced the closing of an upsized $18.2 Million public offering on November 12, 2025.
• Reported First Quarter Fiscal Year 2026 Financial Results on November 13, 2025.
• Announced the pricing of an upsized $15.8 Million public offering on November 6, 2025.
• Trading of common shares resumed on NYSE American under symbol 'PTN' on November 12, 2025, after regaining compliance.

These announcements directly impact investor perception and access to capital, which is a channel in itself.

Clinical trial sites and investigators for patient access and data generation

The network of clinical trial sites and the investigators running them are the essential channel for generating the data required for regulatory submissions and future commercialization. Without them, the pipeline stalls.

Palatin Technologies, Inc. had specific targets for initiating patient access through trial sites in 2025. For the Dry Eye Disease (DED) program, patient enrollment for the remaining two Phase 3 pivotal trial protocols (MELODY-2 and MELODY-3) was prepared to commence in the first half of calendar year 2025. Also, the company targeted starting multiple clinical trials in the second half of calendar year 2025 with next-generation MC4R compounds for obesity. The IND submission and clinical trial initiation for the oral small molecule PL7737 was planned for the first half of 2026, meaning site selection and setup would be a major activity in late 2025.

Finance: draft 13-week cash view by Friday.

Palatin Technologies, Inc. (PTN) - Canvas Business Model: Customer Segments

You're looking at the key groups Palatin Technologies, Inc. (PTN) targets for value capture, which is crucial since the company's financial health in late 2025 is heavily dependent on successful partnerships and financing rather than product sales.

Large biopharmaceutical companies seeking late-stage assets for dry eye disease

This segment is interested in Palatin Technologies, Inc.'s ocular portfolio, particularly the PL9643 candidate for Dry Eye Disease (DED). The company was actively pursuing licensing or collaboration deals for this program throughout 2025, targeting deals in Q2 and Q3 2025. The clinical data supporting this interest is strong; the Phase 3 MELODY-1 study showed that PL9643 achieved significantly greater complete symptom resolution than placebo in 6 of 13 symptom endpoints (with a statistical significance of p<0.05) in responder analysis. Palatin Technologies, Inc. had secured agreement from the FDA on endpoints for Phase 3 trials set to begin in the first half of 2025. The potential market size for DED treatments is substantial, with the U.S. market value estimated at $1.65 billion as of 2021. A successful out-licensing deal would provide non-dilutive capital, which is vital given the company's cash position.

Global pharmaceutical companies focused on the obesity and metabolic disorder market

This is a primary focus, targeting a market expected to exceed $100 billion annually. These partners are interested in Palatin Technologies, Inc.'s novel Melanocortin-4 Receptor (MC4R) agonists, which aim to address the limitations of current therapies-notably the 67% discontinuation rate seen with existing obesity treatments. The Phase 2 BMT-801 study, combining bremelanotide with tirzepatide, yielded positive data, showing a 4.4% weight reduction versus 1.6% for placebo, with 19% of patients achieving $\geq$7% weight loss. Palatin Technologies, Inc. planned to initiate multiple clinical trials in the second half of 2025 with next-generation long-acting peptides and oral small molecules, with IND filings planned for Q1 2026.

Specialty pharmaceutical companies for commercializing approved assets like Vyleesi

While Palatin Technologies, Inc. divested Vyleesi to Cosette Pharmaceuticals in December 2023, specialty pharma companies remain a relevant segment for potential milestone payments and as a benchmark for commercialization potential. The total deal value for Vyleesi was up to $171 million, including an upfront payment of $12 million and up to $159 million in sales-based milestones. For the quarter ended March 31, 2025, Palatin Technologies, Inc. recorded $0 in product sales from Vyleesi, as the rights were transferred. For context, in the fiscal year prior to the sale, Vyleesi generated net product revenue of $4.9 million for the quarter ended December 31, 2023, and fiscal-year sales of $12.5 million.

Investors and institutional funds providing equity financing

This segment is critical for funding the development pipeline, especially given the company's operational cash burn. Palatin Technologies, Inc. executed several financing rounds in 2025 to maintain listing compliance and fund operations. The most recent significant event was the closing of an upsized public offering on November 12, 2025, which generated gross proceeds of approximately $18.2 million (at a price of $6.50 per share/warrant unit), allowing the company to regain compliance with NYSE American listing standards. This followed an earlier offering in May 2025 that raised $1.1 million at $0.15 per share/warrant unit. The November 2025 financing included participation from the company's CEO, CFO/COO, and certain board members, signaling internal confidence. The company also received a €2.0 million (approximately $2.3 million) upfront payment in August 2025 from a research collaboration with Boehringer Ingelheim for retinal diseases, plus an achieved research milestone of €5.5 million (approximately $6.5 million) in September 2025. These capital events directly impact the financial runway for the customer segments focused on R&D.

The sources of capital and potential partners can be summarized:

Customer Segment Type	Key Financial/Statistical Data Point (Late 2025)	Associated Program/Event
Institutional Investors (Financing)	$18.2 million gross proceeds from November 2025 offering	Regained NYSE American compliance
Large Biopharma (Partnership)	6 of 13 symptom endpoints showed significant resolution	PL9643 Dry Eye Disease Phase 3
Global Pharma (Partnership)	4.4% weight reduction in Phase 2 study	Obesity Program (Bremelanotide + Tirzepatide)
Specialty Pharma (Asset Sale)	Upfront payment of $12 million from December 2023 sale	Vyleesi divestiture
Institutional Investors (Partnership)	$6.5 million milestone achieved in September 2025	Boehringer Ingelheim Retinal Disease Collaboration

The company's cash and equivalents were $1.3 million as of September 30, 2025, before the November 2025 financing, which is expected to provide a cash runway beyond the quarter ending December 31, 2026.

Palatin Technologies, Inc. (PTN) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Palatin Technologies, Inc.'s operations, which are heavily weighted toward creating and proving out their pipeline assets. For a biopharma company at this stage, the cost structure is almost entirely dictated by science and regulatory hurdles.

The single largest component of Palatin Technologies, Inc.'s operating expenditure is Research and Development (R&D). This reflects the necessary investment to advance their melanocortin receptor (MCR) programs through preclinical and clinical stages. For the first quarter of Fiscal Year 2026 (the quarter ended September 30, 2025), R&D spending was reported at $2,525,766. This was a significant step down from the R&D spend of $5,743,754 reported in the first quarter of the prior fiscal year, Q1 FY2025, showing some cost optimization or shifting of expenses following key milestones.

General and administrative (G&A) overhead, which covers the necessary corporate functions, legal work, and patent maintenance to protect their intellectual property, is the second major fixed cost. For Q1 FY2026, Selling, General and Administrative (SG&A) expenses were $1,660,731. This is compared to $2,020,931 in SG&A for Q1 FY2025. These costs are essential for maintaining corporate structure and defending the patent estate covering their selective agonists.

Clinical trial costs are embedded within R&D but represent the most variable and potentially largest future outlay. Palatin Technologies, Inc. has major ongoing and near-term clinical activities that drive these expenses:

• Phase 3 PL9643 for Dry Eye Disease (DED) with MELODY-2 & MELODY-3 studies targeting enrollment start in Q4 2024, with topline results anticipated in Q4 Calendar Year 2025.
• Phase 2 obesity program involving the co-administration of a melanocortin-4 receptor (MC4R) agonist with tirzepatide, which had patient dosing commence in Q3 Calendar Year 2024.
• Advancing next-generation MC4R therapeutics, including an oral small molecule PL7737, with an IND filing targeted for Q4 2025 and Phase 1 SAD/MAD start targeted for Q4 2025.
• The Ulcerative Colitis (UC) program with oral PL8177 had topline results anticipated in Q1 Calendar Year 2025.

The overall financial performance reflects these heavy, ongoing R&D costs. For the full Fiscal Year 2025, the net loss for Palatin Technologies, Inc. was approximately ($17,307) thousand. [cite: Provided in prompt] This is a key figure that highlights the cash burn required to fund the pipeline development.

To manage this burn, the company's operational cash flow is closely monitored. For the first quarter of Fiscal Year 2026 (ended September 30, 2025), the net cash used in operations was $1.6 million. This was a substantial improvement from the net cash used in operations of $7.0 million for the comparable quarter in the prior year, largely due to recognized collaboration revenue.

Here's a quick look at the most recent reported operating expenses, which form the bulk of the cost structure:

Expense Category	Q1 Fiscal Year 2026 (Ended 9/30/2025) (USD)	Q1 Fiscal Year 2025 (Ended 9/30/2024) (USD)
Research and Development (R&D)	$2,525,766	$5,743,754
Selling, General and Administrative (SG&A)	$1,660,731	$2,020,931
Total Operating Expenses	$4,186,497	$7,764,685

The reduction in total operating expenses from Q1 FY2025 to Q1 FY2026 was mainly related to a decrease in spending on MCR development programs.

Palatin Technologies, Inc. (PTN) - Canvas Business Model: Revenue Streams

You're looking at the core engines driving Palatin Technologies, Inc.'s (PTN) financials as of late 2025. For a development-stage biopharma, revenue streams are heavily weighted toward non-dilutive funding from partnerships, which is exactly what we see here. The recent Q1 FY2026 results really highlight this shift in cash generation.

The primary, most immediate revenue source is the collaboration and license revenue, which saw a significant jump due to the new agreement with Boehringer Ingelheim. For the fiscal first quarter ended September 30, 2025, Palatin Technologies, Inc. reported $8,847,550 in collaboration and license revenue. This was a major turnaround, as the comparable quarter last year showed zero in this category.

This collaboration revenue is built on several components, which you should track closely:

• Upfront payments from new licensing deals.
• Achievement of specific research or development milestones.
• Contingent, sales-based milestone payments from divested assets.
• Royalties on net sales of commercialized licensed products.

The Boehringer Ingelheim agreement, signed in August 2025 for retinal diseases, is already paying dividends. Palatin Technologies, Inc. achieved a research milestone under this deal, triggering a payment of €5.5 million, which translates to $6.5 million; this was reported as achieved in September 2025. Remember, this deal also included an upfront payment of €2.0 million (or $2.3 million) received in August 2025. Honestly, the total potential upside here is substantial, reaching up to $326.8 million in development, regulatory, and commercial milestones, plus tiered royalties on net sales. That's the kind of non-dilutive cash flow that buys you runway.

Another key, though less predictable, stream is the contingent revenue from the Vyleesi sale. Palatin Technologies, Inc. is eligible for contingent, sales-based milestone payments of up to $159 million based on annual net sales ranging from $15 million to $200 million. While the focus is now squarely on the pipeline, these sales milestones represent a potential future cash infusion tied directly to Cosette Pharmaceuticals' commercial success with the product.

To round out the funding picture, Palatin Technologies, Inc. also relies on capital markets, which is a necessary part of the model for a company advancing novel compounds. In November 2025, the company closed an upsized public offering, securing approximately $16.9 million in net proceeds. This capital is earmarked to support the obesity program and general corporate purposes, and it helped the company regain compliance with the NYSE American listing standard.

Here's a quick look at the key financial figures driving these revenue streams as of late 2025:

Revenue/Financing Component	Specific Amount/Potential	Timing/Context
Q1 FY2026 Collaboration & License Revenue	$8,847,550	Quarter ended September 30, 2025
Boehringer Ingelheim Research Milestone Payment	$6.5 million	Achieved September 2025
Boehringer Ingelheim Upfront Payment	$2.3 million	Received August 2025
Vyleesi Sales-Based Milestone Potential	Up to $159 million	Contingent on net sales
November 2025 Equity Financing (Net Proceeds)	$16.9 million	Closed November 2025
Total Boehringer Ingelheim Potential Milestones	Up to $326.8 million	Plus tiered royalties

Also, don't forget the royalties component. The Boehringer Ingelheim agreement explicitly includes tiered royalties on future net sales, which represents a long-term, passive revenue stream if their retinal disease candidates make it to market. That's the long game in this revenue structure.

Finance: draft 13-week cash view by Friday.