Palatin Posts Wider Loss In Q4 - Quick Facts

(RTTNews) - Palatin Technologies, Inc. (PTN), a biopharmaceutical company, reported a fourth-quarter net loss of $12.1 million, or $0.09 per share, compared to a net loss of $4.3 million, or $0.04 per share, for the same period in 2014. The company said the increase in net loss from prior year was the result of an increase in operating expenses primarily related to bremelanotide for FSD Phase 3 development program.

On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.06 for the quarter. Analysts' estimates typically exclude special items.

There were no revenues recorded in the quarter ended June 30, 2015. Operating expenses for the quarter ended June 30, 2015 were $11.8 million, compared to $4.3 million, a year ago.