Palatin Technologies, Inc. (NYSE MKT: PTN) is a
biopharmaceutical company developing targeted, receptor-specific peptide
therapeutics for the treatment of diseases with significant unmet medical need.
The company’s leading product candidate, Bremelanotide, is currently set to
begin two phase III clinical trials for the treatment of female sexual
dysfunction (FSD). Additionally, Palatin’s development pipeline features a
collection of programs and drug candidates addressing erectile dysfunction,
pulmonary diseases, heart failure, obesity, inflammatory diseases and
dermatologic diseases.
In the fiscal quarter ending March 31, Palatin made
significant progress toward the eventual commercialization of Bremelanotide. In
February, the company launched a clinical trial website in support of the
impending phase III reconnect study that will serve as a source of information
for women interested in participating in the Bremelanotide trials. As of its
latest update, enrollment for Palatin’s trials was meeting target objectives,
clearing the way for initiation of the pivotal study in the months to come.
“We are extremely pleased that enrollment in our two phase
III studies of Bremelanotide for the treatment of FSD is on track,” Carl Spana,
president and chief executive officer of Palatin, stated in a news release.
“[W]e anticipate completing enrollment in the second half of calendar year 2015
and reporting top-line results in mid-calendar year 2016.”
Upon completion of clinical development, Bremelanotide is
expected to become the first product approved by the Food and Drug
Administration for the treatment of FSD, giving Palatin a significant strategic
advantage following commercialization. According to Florida Hospital, an
estimated 63 million women in the U.S., or 40 percent of the female population,
suffer from FSD. As a point of comparison, consider that the market for
erectile dysfunction (ED) therapy, which affects an estimated 30 million men in
the U.S., is expected to account for sales of approximately $2.5 billion this
year, according to Medtech Insight. Although no FSD treatment is currently
approved, the strong performance of the ED treatment market could provide some
insight into the massive commercial potential of Bremelanotide in the years to
come.
As of its latest financial report, Palatin reported $36.7
million in cash and cash equivalents, which is expected to adequately fund its
operations through the quarter ending June 30, 2016. For prospective
shareholders, the company’s favorable cash position, as well as the
considerable market potential of its leading product candidate, makes Palatin
an intriguing investment opportunity moving forward.
For more information, visit www.palatin.com
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