Palatin Technologies (PTN) investor relations material

Executive summary

• Entered a major research collaboration and license agreement with Boehringer Ingelheim for retinal diseases in August 2025, securing upfront and milestone payments and future royalties.

• Completed an $18.2 million equity offering in November 2025, regaining NYSE American listing and improving financial stability.

• Focused R&D on selective melanocortin-4 receptor agents for obesity, with IND filings and clinical data expected in 2026.

• Advanced clinical programs in obesity, ocular, and inflammatory diseases, with multiple candidates moving toward trials or out-licensing.

Financial highlights

• Recognized $8.85 million in collaboration and license revenue for Q1 FY2026, up from zero year-over-year, driven by the Boehringer Ingelheim agreement.

• Net income of $4.68 million for the quarter, compared to a net loss of $7.82 million in the prior year.

• Operating expenses decreased to $4.2 million from $7.8 million year-over-year, mainly due to reduced R&D spending.

• Cash and equivalents were $1.3 million as of September 30, 2025, not including $6.5 million in milestone payments and $16.9 million in offering proceeds received after quarter-end.

• Net cash used in operations was $1.6 million, down from $7 million year-over-year.

Outlook and guidance

• Cash runway expected to extend beyond December 31, 2026, following recent financing and milestone receipts.

• IND filing for PL7737, an oral MC4R agonist for obesity, targeted for first half of 2026, with clinical data anticipated in the second half.

• Additional IND-enabling studies and first-in-human trials for long-acting MC4R peptides planned for 2026.

• Eligible for up to $15 million in near-term research milestones and up to $328 million in longer-term milestones and royalties from Boehringer Ingelheim.

• Additional funding will be required for future clinical trials and regulatory submissions.