Wed, May 14, 9:06 PM (40 days ago)
### Palatin Technologies, Inc. (PTN) Q1 2025 Financial Summary **Financial Health and Performance:** - **Revenue:** No product revenue reported for Q1 2025, down from $4,140,090 in Q1 2024 due to the sale of Vyleesi. - **Operating Expenses:** Total operating expenses were $4,813,177 for Q1 2025, down from $9,218,298 in Q1 2024. - **Research and Development:** $3,755,158 (Q1 2025) vs. $7,159,686 (Q1 2024). - **Selling, General, and Administrative:** $1,474,019 (Q1 2025) vs. $2,033,410 (Q1 2024). - **Net Loss:** $4,811,420 for Q1 2025, down from $8,435,650 in Q1 2024. - **Cash Flow:** Net cash used in operating activities was $17,217,595 for the nine months ended March 31, 2025, down from $24,988,985 in the same period of 2024. **Profit Margins:** - **Operating Margin:** Negative, reflecting significant R&D and administrative costs. - **Net Margin:** Negative, indicating substantial losses. **Cash Flow:** - **Operating Cash Flow:** Negative, with significant outflows due to operating losses. - **Investing Cash Flow:** Positive, with $2,500,000 from the sale of Vyleesi. - **Financing Cash Flow:** Positive, with $7,710,261 from the sale of common stock and warrant exercises. **Earnings Changes:** - **Q1 2025 vs. Q1 2024:** Net loss decreased by $3,624,230. - **Nine Months Ended March 31, 2025 vs. 2024:** Net loss decreased by $6,408,132. **Quarterly Performance Discussion:** - **Revenue Decline:** Due to the sale of Vyleesi, leading to no product revenue. - **Cost Reduction:** Significant decrease in R&D and administrative expenses. - **Cash Position:** $2,520,062 in cash and cash equivalents as of March 31, 2025, down from $9,527,396 in June 2024. **Trends and Uncertainties:** - **Product Development:** Focus on obesity treatments and ocular indications. - **Funding:** Need for additional financing to sustain operations. - **Market Risks:** Economic uncertainties and regulatory challenges. **Future Operations Impact:** - **Delisting:** Suspended from NYSE American, trading on OTC Pink Market. - **Strategic Moves:** Evaluating equity financing, debt issuance, and cost reductions. - **Going Concern:** Substantial doubt about continuing as a going concern for one year from the date of the financial statements. **Ticker:** PTN