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Palatin Technologies, Inc. Reports Second Quarter Fiscal Year 2013 Results; Teleconference and Webcast to be held on February 14, 2013
Date:2/14/2013

9,0834,977,450General and administrative

1,001,5381,019,7472,062,5542,129,129Total operating expenses

3,447,3083,712,8146,851,6377,106,579Loss from operations

(3,440,753)(3,701,322)(6,841,276)(7,067,870)OTHER INCOME (EXPENSE):Investment income

13,0167,23427,38722,274Interest expense

(1,360)(1,847)(3,642)(4,820)Increase in fair value of warrants

--(7,069,165)-Gain on disposition of supplies

 and equipment

-3,0004,6203,000Total other income (expense), net

11,6568,387(7,040,800)20,454Loss before income taxes

(3,429,097)(3,692,935)(13,882,076)(7,047,416)Income tax benefit

1,753,2081,068,2331,753,2081,068,233NET LOSS

$
(1,675,889)$
(2,624,702)$
(12,128,868)$
(5,979,183)Basic and diluted net loss per

 common share

$
(0.02)$
(0.08)$
(0.14)$
(0.17)Weighted average number of

 common shares outstanding used

 in computing basic and diluted

 net loss per common share

106,424,44334,900,59189,046,80634,900,591 PALATIN TECHNOLOGIES, INC.and SubsidiaryConsolidated Balance Sheets(unaudited)December 31, 2012June 30, 2012ASSETSCurrent assets:Cash and cash equivalents

$
32,850,676$
3,827,198Accounts receivable

37,99127,631Restricted cash

-350,000Prepaid expenses and other current assets

343,912532,010Total current assets

33,232,5794,736,839Property and equipment, net

285,649318,653Other assets

58,542324,992Total assets

$
33,576,770$
5,380,484LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Capital lease obligations

$
23,144$
22,277Accounts payable 

484,815294,894Accrued expenses

1,541,7292,706,496Accrued compensation

-433,333Total current liabilities

2,049,6883,457,000Capital lease obligations 

8,11619,909Deferred rent'/>"/>

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

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