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Palatin Technologies, Inc. Reports Fourth Quarter and Fiscal Year End 2011 Results

m its historical results or from any results expressed or implied by such forward-looking statements. Palatin's actual results may differ materially from those discussed in the forward-looking statements for reasons including, but not limited to, results of clinical trials, regulatory actions by the Food and Drug Administration and the need for regulatory approvals, Palatin's ability to fund development of its technology and establish and successfully complete clinical trials, the length of time and cost required to complete clinical trials and submit applications for regulatory approvals, products developed by competing pharmaceutical, biopharmaceutical and biotechnology companies, commercial acceptance of Palatin's products, and other factors discussed in Palatin's periodic filings with the Securities and Exchange Commission. Palatin is not responsible for updating for events that occur after the date of this press release. PALATIN TECHNOLOGIES, INC.and SubsidiaryConsolidated Statement of Operations(unaudited)Quarter Ended June 30, Year Ended June 30,2011201020112010REVENUESLicense and contract

497,540$ 14,180,727Grants

131,149-977,917-Total revenues

155,840674,9571,475,45714,180,727OPERATING EXPENSES:Research and development

3,217,3853,554,52110,377,01912,293,910General and administrative

1,525,0261,374,3204,751,8244,901,203Total operating expenses

4,742,4114,928,84115,128,84317,195,113Loss from operations

(4,586,571)(4,253,884)(13,653,386)(3,014,386)OTHER INCOME (EXPENSE):Investment income

26,91621,36599,258141,635Interest expense

(4,999)(3,862)(10,606)(13,165)Decrease/(increase) in fair value of warrants

1,255,425-(2,266)-Gain on sale of securities

--119,346-Gain/(loss) on disposition of supplies and equipment

--(5,666)95,000Total other income, net

1,277,34217,503200,066223,470Loss before income taxes


SOURCE Palatin Technologies, Inc.
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