Company profile

Carl Spana
Incorporated in
Fiscal year end
Former names
Interfilm Inc
IRS number

PTN stock data


Investment data

Data from SEC filings
Securities sold
Number of investors


12 Nov 19
28 Jan 20
30 Jun 20


Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 97.38K 60.27K 0 0
Net income -4.5M 52.22K -5.73K -5.04K
Diluted EPS -0.02 0.23 -0.03 -0.02
Net profit margin -4622% 86.66%
Operating income -4.86M 52.19M -5.76M -5.05M
Net change in cash 53.19M 23.7M -4.84M -7.96M
Cash on hand 96.7M 43.51M 19.81M 24.66M
Annual (USD) Jun 19 Jun 18 Jun 17 Jun 16
Revenue 60.3M 67.13M 44.72M 0
Net income 35.77M 24.7M -13.33M -51.71M
Diluted EPS 0.16 0.12 -0.07 -0.33
Net profit margin 59.32% 36.80% -29.81%
Operating income 35.74M 25.93M -10.57M -49.25M
Net change in cash 5.51M -2.2M 32.2M -19.3M
Cash on hand 43.51M 38M 40.2M 8M

Financial data from Palatin earnings reports

21.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 91 90 +1.1%
Opened positions 14 20 -30.0%
Closed positions 13 8 +62.5%
Increased positions 23 32 -28.1%
Reduced positions 22 17 +29.4%
13F shares
Current Prev Q Change
Total value 74.08M 78.73M -5.9%
Total shares 48.11M 43.73M +10.0%
Total puts 0 0
Total calls 0 183.73K -100.0%
Total put/call ratio
Largest owners
Shares Value Change
BLK BlackRock 14.47M $13.15M +1.4%
Vanguard 9.69M $8.81M +4.0%
STT State Street 3.46M $3.15M +7.7%
Acadian Asset Management 2.62M $2.38M -6.0%
Geode Capital Management 2.51M $2.28M -13.0%
NTRS Northern Trust 2.38M $2.16M +5.0%
ClariVest Asset Management 1.67M $1.51M NEW
Broadfin Capital 1.05M $952K NEW
WINTON 834.64K $759K NEW
Bridgeway Capital Management 796K $723K 0.0%
Largest transactions
Shares Bought/sold Change
ClariVest Asset Management 1.67M +1.67M NEW
Broadfin Capital 1.05M +1.05M NEW
WINTON 834.64K +834.64K NEW
First Trust Advisors 464.55K +464.55K NEW
Geode Capital Management 2.51M -376.37K -13.0%
Vanguard 9.69M +372.32K +4.0%
STT State Street 3.46M +246.54K +7.7%
BLK BlackRock 14.47M +195.01K +1.4%
A.R.T. Advisors 0 -192.59K EXIT
Gsa Capital Partners 190.25K +190.25K NEW

Financial report summary

CanadaSciosAllerganShireNovartisNovartisIrelandNovus EnergyAnpAllergan
  • We have a history of substantial net losses, and while we had net income for the years ended June 30, 2019 and 2018, we expect to incur substantial net losses over the next few years, and we may never achieve or maintain profitability.
  • We will need additional funding, including funding to complete clinical trials for our product candidates other than Vyleesi, which may not be available on acceptable terms, if at all.
  • We have a limited operating history upon which to base an investment decision.
  • Raising additional capital may cause dilution to existing shareholders, restrict our operations or require us to relinquish rights.
  • We are substantially dependent on the commercial success of Vyleesi for HSDD, but we and our licensees may never successfully commercialize Vyleesi for HSDD or obtain approvals in countries other than the United States.
  • We do not control the commercialization of Vyleesi in North America, which is licensed to AMAG, and as a result we may not realize a significant portion of the potential value of the license arrangement with AMAG.
  • Production and supply of Vyleesi depend on contract manufacturers over whom neither we nor AMAG have any control, and there may not be adequate supplies of Vyleesi.
  • We depend on AMAG for supply of Vyleesi outside North America, and have not yet signed a supply contract for Vyleesi with AMAG.
  • Our product candidates other than Vyleesi are still in the early stages of development and remain subject to clinical testing and regulatory approval. If we are unable to successfully develop and test our product candidates, we will not be successful.
  • If clinical trials for our product candidates are prolonged or delayed, we may be unable to commercialize our product candidates on a timely basis, which would require us to incur additional costs and delay our receipt of any revenue from potential product sales.
  • We may not be able to secure and maintain relationships with research institutions and other organizations to conduct our clinical trials.
  • Even if our product candidates receive regulatory approval, they may never achieve market acceptance, in which case our business, financial condition and results of operation will be materially adversely affected.
  • Even if our product candidates receive regulatory approval in the United States, we may never receive approval or commercialize our products outside of the United States.
  • If side effects emerge that can be linked to our product candidates (either while they are in development or after they are approved and on the market), we may be required to perform lengthy additional clinical trials, change the labeling of any such products, or withdraw such products from the market, any of which would hinder or preclude our ability to generate revenues.
  • We may not be able to keep up with the rapid technological change in the biotechnology and pharmaceutical industries, which could make any future approved products obsolete and reduce our revenue.
  • Competing products and technologies may make our proposed products noncompetitive.
  • We rely on third parties over whom we have no control to conduct preclinical studies, clinical trials and other research for our product candidates and their failure to timely perform their obligations could significantly harm our product development.
  • Production and supply of our product candidates depend on contract manufacturers over whom we have no control, with the risk that we may not have adequate supplies of our product candidates or products.
  • If we are unable to establish sales and marketing capabilities within our organization or enter into and maintain agreements with third parties to market and sell our product candidates, we may be unable to generate product revenue.
  • We will need to hire additional employees in order to commercialize our product candidates in the future. Any inability to manage future growth could harm our ability to commercialize our product candidates, increase our costs and adversely impact our ability to compete effectively.
  • Our ability to achieve revenues from the sale of our products will depend, in part, on our ability to obtain adequate reimbursement from Medicare, Medicaid, private insurers and other healthcare payers.
  • Even if we receive regulatory approval for our products in Europe, we may not be able to secure adequate pricing and reimbursement in Europe for us or any strategic partner to achieve profitability.
  • We may incur substantial liabilities and may be required to limit commercialization of our products in response to product liability lawsuits.
  • Our internal computer systems, or those of our third-party contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our product development programs.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties or that our employees have wrongfully used or disclosed alleged trade secrets of their former employers.
  • We may be subject, directly or indirectly, to federal and state healthcare fraud and abuse laws, false claims laws, and health information privacy and security laws. If we are unable to comply, or have not fully complied, with such laws, we could face substantial penalties.
  • We are highly dependent on our management team, senior staff professionals and third-party contractors and consultants, and the loss of their services could materially adversely affect our business.
  • Because we expect Vyleesi for the treatment of HSDD to be classified as a Tier 3 drug with reimbursement by third-party payers similar to approved products for treating ED, demand for this product will be tied to discretionary spending levels of our targeted patient population and particularly affected by unfavorable economic conditions.
  • Both before and after marketing approval, our product candidates are subject to ongoing regulatory requirements and, if we fail to comply with these continuing requirements, we could be subject to a variety of sanctions and the sale of any approved commercial products could be suspended.
  • The regulatory approval process is lengthy, expensive and uncertain, and may prevent us from obtaining the approvals that we require.
  • Legislative or regulatory healthcare reforms in the United States may make it more difficult and costly for us to obtain regulatory clearance or approval of any future product candidates and to produce, market and distribute our products after clearance or approval is obtained.
  • Changes in healthcare policy could adversely affect our business.
  • If we fail to adequately protect or enforce our intellectual property rights or secure rights to patents of others, the value of our intellectual property rights would diminish.
  • We may become involved in lawsuits to protect or enforce our patents or other intellectual property or the patents of our licensors, which could be expensive and time consuming.
  • If we infringe or are alleged to infringe intellectual property rights of third parties, our business could be harmed.
  • Our patent applications and the enforcement or defense of our issued patents may be impacted by the application of or changes in U.S. and foreign standards.
  • We may not be able to protect our intellectual property rights throughout the world.
  • If we are unable to keep our trade secrets confidential, our technologies and other proprietary information may be used by others to compete against us.
  • Our stock price is volatile and may fluctuate in a way that is disproportionate to our operating performance and we expect it to remain volatile, which could limit investors’ ability to sell stock at a profit.
  • As a public company in the United States, we are subject to the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley”). We can provide no assurance that we will, at all times, in the future be able to report that our internal controls over financial reporting are effective.
  • If securities or industry analysts do not publish research or publish unfavorable research about our business, our stock price and trading volume could decline.
  • Holders of our preferred stock may have interests different from our common stockholders.
  • Because we do not anticipate paying any cash dividends on our common stock in the foreseeable future, capital appreciation, if any, will be your sole source of gains.
  • Anti-takeover provisions of Delaware law and our charter documents may make potential acquisitions more difficult and could result in the entrenchment of management.
  • We are a smaller reporting company and the reduced disclosure requirements applicable to smaller reporting companies may make our common stock less attractive to investors.
  • As of September 10, 2019, there were 46,816,721 shares of common stock underlying outstanding convertible preferred stock, options, restricted stock units and warrants. Stockholders may experience dilution from the conversion of preferred stock, exercise of outstanding options and warrants and vesting and delivery of restricted stock units.
  • Our failure to meet the continued listing requirements of the NYSE American could result in a de-listing of our common stock.
Management Discussion
  • Revenue – For the three months ended September 30, 2019, we recognized $97,379 in license and contract revenue compared to $34,505 in license and contract revenue for the three months ended September 30, 2018, both pursuant to our license agreement with AMAG.
  • Research and Development – Research and development expenses were $3,127,489 for the three months ended September 30, 2019 compared to $3,622,691 for the three months ended September 30, 2018. The decrease is primarily related to a decrease in salaries and stock-based compensation offset by an increase in spending on our PL-8177 program.
  • Research and development expenses related to our Vyleesi, PL3994, PL8177, MC1r, MC4r and other preclinical programs were $2,297,542 for the three months ended September 30, 2019 compared to $1,944,240 for the three months ended September 30, 2018. The increase is primarily related to an increase in spending on our PL8177 program.
Content analysis ?
H.S. freshman Avg
New words: Additionally, Affiliated, arisng, Assembling, buyback, cancel, cancellation, cancelled, caption, characterized, Codification, component, contractual, create, description, discontinued, driven, earlier, enabling, exemption, fibrotic, heading, hindsight, hypothetical, implicit, intake, lack, marked, Maximizing, maximum, MCr, million, molecule, negotiated, noncurrent, presence, proxy, psychiatric, publish, qualify, receipt, relationship, reliance, renewal, repaid, revised, ROU, space, speak, stockholder, subsequently, substance, Supplemental, transparency, twelve, unamortized, uncertainty, undue, urged, Vylessi, warrant
Removed: academic, actively, addressed, advanced, affirmative, agreed, AMT, analog, ancillary, anticipate, applicability, applying, arm, ascending, attain, award, biological, calculating, called, case, comparing, conclusion, controlled, converted, crediting, cure, customary, data, decision, declare, default, deficiency, delivered, demand, determination, dose, dosing, dual, eliminating, employee, encumbering, expanded, expertise, favorable, flushing, fourth, frequent, genetic, GILTI, government, headache, human, IA, impacting, improvement, IND, individual, initiated, injectable, intensity, Investigational, involving, issuable, leasing, legislation, lessee, Lessor, licensee, likelihood, lower, lowering, March, met, metabolic, mg, modification, multiple, native, naturally, nausea, nominal, occurring, ongoing, outcome, parallel, partnership, PDUFA, pertaining, placebo, placement, pledging, Prescription, priority, prospectively, randomized, ratio, reconciliation, RECONNECT, record, Refer, refundable, refunded, release, repatriation, repealing, restated, restrictive, retain, return, safety, satisfying, security, selected, selecting, separate, set, significantly, solicitation, statutory, study, submitted, suitable, support, suspend, synthetic, transient, trial, undelivered, underwritten, undistributed, updated, User, validated, vendor, worldwide