Navigation Links
Palatin Technologies, Inc. Announces Pricing of $35 Million Private Placement of Common Stock and Warrants
Date:7/2/2012

CRANBURY, N.J., July 2, 2012 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE MKT: PTN) today announced that it has entered into a definitive securities agreement and priced a private placement of 3,873,000 shares of its common stock, Series A warrants to purchase 31,988,151 shares of its common stock, and Series B warrants to purchase 35,488,380 shares of its common stock.  Funds under the management of QVT Financial LP have agreed to pay $0.50 for each share of common stock and $0.49 for each Series A warrant and each Series B warrant, resulting in gross proceeds to Palatin of $35,000,000, with net proceeds, after deducting estimated offering expenses, of approximately $34,500,000.

The private placement is expected to close on or about July 5, 2012, subject to customary closing conditions.

Palatin intends to use the proceeds from this offering for general corporate purposes and working capital, including its clinical trial program with bremelanotide for female sexual dysfunction, preclinical and clinical development of its melanocortin receptor-1 peptide program, preclinical and clinical development of its PL-3994 program and preclinical and clinical development of other portfolio products.

Both Series A and Series B warrants are exercisable at an initial exercise price of $0.01 per share.  The Series A warrants are exercisable immediately upon issuance and expire on the tenth anniversary of the date of issuance.  The Series B warrants are also exercisable immediately upon issuance, but only if Palatin's stockholders increase the number of its authorized shares of common stock, and expire on the tenth anniversary of the date of the increase in the number of authorized shares.  Both the Series A warrants and the Series B warrants are subject to limitation on exercise if the holder and its affiliates would beneficially own more than 9.99% of the total number of Palatin's shares of common stock following such exercise.
'/>"/>

SOURCE Palatin Technologies, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Palatin Technologies, Inc. to Report Fiscal Year 2012 First Quarter Results; Teleconference and Webcast to be held on November 15, 2011
2. Palatin Technologies, Inc. Reports First Quarter Fiscal Year 2012 Results; Teleconference and Webcast to be held on November 15, 2011
3. Palatin Technologies to Present at Windhovers Therapeutic Area Partnerships Conference
4. Palatin Technologies, Inc. to Present at the 24th Annual ROTH OC Growth Stock Conference
5. Palatin Technologies, Inc. To Report Fiscal Year 2012 Third Quarter Results; Teleconference and Webcast to be held on May 14, 2012
6. Palatin Technologies, Inc. Reports Third Quarter Fiscal Year 2012 Results; Teleconference and Webcast to be held on May 14, 2012
7. Palatin Technologies Announces Halting of Phase I Clinical Trial of Obesity Compound in AstraZeneca Research Collaboration
8. OrthoAccel® Technologies, Inc. Announces Definitive Distribution Agreement in Italy
9. Senesco Technologies, Inc. to Webcast, Live, at RetailInvestorConferences.com on December 1st
10. Animal Biotechnology - Technologies, Markets and Companies
11. Gene Therapy - Technologies, Markets and Companies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/30/2014)... (PRWEB) August 31, 2014 The ... a professional and in-depth study on the current ... Global and China. , The report provides a ... and industry chain structure. Global market analysis and ... focus on history, developments, trends and competitive landscape ...
(Date:8/29/2014)... New York (PRWEB) August 29, 2014 According ... “Global Orthobiologics Market” the global orthobiologics market was valued at ... a market worth USD 5,519.9million in 2019at a CAGR of ... population aged 50 years and above is afflicted by bone ... double by the year 2020. This has and will continue ...
(Date:8/29/2014)... Three Lawrence Livermore researchers have received ... R&D Award for their research in producing ... , Shared with collaborators from the National Renewable ... Las Vegas (UNLV), the award recognizes the team ... production and corrosion processes. , These models have ...
(Date:8/28/2014)... California, USA (PRWEB) August 28, 2014 ... Department of Physics and Optical Science and Director of ... University of North Carolina at Charlotte, and co-founder and ... elected to serve as the 2015 Vice President of ... SPIE 2014 President Philip Stahl announced recent election results ...
Breaking Biology Technology:Electrical Insulating Varnish Market World, China Regional Analysis & 2020 Forecasts Available at DeepResearchReports.com 2Electrical Insulating Varnish Market World, China Regional Analysis & 2020 Forecasts Available at DeepResearchReports.com 3Global Orthobiologics Market to Reach $5,519.9 Million by 2019: Transparency Market Research 2Global Orthobiologics Market to Reach $5,519.9 Million by 2019: Transparency Market Research 3Livermore Team Awarded for Hydrogen Production Research 2Glenn Boreman, UNC Professor and Plasmonics Co-Founder, Elected to SPIE Presidential Chain 2
... Calif., Dec. 12 Codexis, Inc., a leading,developer ... directors have been named to the company,s Board ... Vice President of Innovation and,Chemicals Technology, Shell Global ... Dennis Wolf, Executive Vice President and CFO, MySQL, ...
... PLYMOUTH MEETING, Pa., Dec. 12 Genaera,Corporation (Nasdaq: ... Executive Officer of Genaera, is scheduled to present at ... part of an,RBC Capital Markets, panel discussion of diabetes ... and will take place in,New York on Thursday, December ...
... First Time on 50 mg/Day Dose for PRISTIQ for the ... Treatment of Major Depressive ... of Wyeth (NYSE: WYE ), announces that data from,two ... inhibitor (SNRI), showed,that adult patients who received a 50 mg/day ...
Cached Biology Technology:Rothwell, Wolf Elected to Codexis Board 2Rothwell, Wolf Elected to Codexis Board 3New Phase 3 Data Showed PRISTIQ Significantly Reduced Symptoms of Major Depressive Disorder Versus Placebo 2New Phase 3 Data Showed PRISTIQ Significantly Reduced Symptoms of Major Depressive Disorder Versus Placebo 3New Phase 3 Data Showed PRISTIQ Significantly Reduced Symptoms of Major Depressive Disorder Versus Placebo 4New Phase 3 Data Showed PRISTIQ Significantly Reduced Symptoms of Major Depressive Disorder Versus Placebo 5New Phase 3 Data Showed PRISTIQ Significantly Reduced Symptoms of Major Depressive Disorder Versus Placebo 6
(Date:9/1/2014)... animals, bats are perfectly adapted to a life without light. ... reflected echoes to measure distance to obstacles or prey. In ... delays. A study carried out by researchers at Technische Universitt ... map dynamically adapts to external factors. , Closer ... in too close to an object, the number of activated ...
(Date:8/31/2014)... sniffing the highly infectious bacteria C. diff , ... developed by a team at the University of Leicester. ... demonstrated that it is possible to identify the unique ... to rapid diagnosis of the condition., What is more, ... identify different strains of the disease simply from their ...
(Date:8/31/2014)... Change , suggests that if current trends continue ... targets for total greenhouse gas (GHG) emissions in 2050. ... about the food we choose and its environmental impact. A ... of a number of actions that need to be taken ... food for all. , As populations rise and global ...
Breaking Biology News(10 mins):Zooming in for a safe flight 2Scientists develop 'electronic nose' for rapid detection of C. diff infection 2Changing global diets is vital to reducing climate change 2Changing global diets is vital to reducing climate change 3Changing global diets is vital to reducing climate change 4
... into a calcium-sensing enzyme already known to play a ... researchers showed that the enzyme, calmodulin kinase II (CaM ... disease called Timothy syndrome and that inhibiting the enzyme ... a new cellular model, could help with developing treatments ...
... Climate change can have significant impacts on high-elevation lakes ... them, according to U.S. Forest Service and University of ... issue of the journal " Herpetological Conservation and Biology ... shallow lakes drying up in summer and predation by ...
... at The University of Queensland could contribute to the ... virus and Dengue fever. Led by Associate ... School of Molecular and Microbial Sciences identified a novel ... belong. The team found all flaviviruses produced ...
Cached Biology News:Rare disease provides clues about enzyme role in arrhythmias 2Rare disease provides clues about enzyme role in arrhythmias 3Climate change effects on imperiled Sierra frog examined 2UQ research targets West Nile virus and dengue fever 2
... PCR Enhancer (with betaine) substantially improves ... and specificity for amplification of many ... in PCR eliminates the base-pair composition ... thermal stability, suppresses pauses of DNA ...
... Biotin Streptavidin-AP Systems provide rapid, precise ... antigens in frozen or paraffin-embedded tissue, ... systems also facilitate double or triple ... performed simultaneously with primary antibodies of ...
... computer controlled pre-amplifier suitable for a broad ... input for recording physiological signal such as ... transducer input for use with a wide ... options include a stimulus artefact clamp to ...
... Two sizes available for use with 96- or ... Thermo-Mat™ 96 for ease of location on 96-tube plates ... in the skirt of the plate* Efficient sealing ... used in conjunction with screw or clip-down hot lid ...
Biology Products: