Women's Health Weekly
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Finance
Biopharma company receives $10 million payment from King Pharmaceuticals
October 27th, 2005
Palatin Technologies, Inc., (PTN) announced the receipt of $10 million from King Pharmaceuticals, Inc., (KG) pursuant to their strategic alliance to jointly develop PT-141 for the treatment of male and female sexual dysfunction. King will receive 4,499,336 shares of common stock plus warrants to purchase 719,894 shares of common stock at an exercise price of $2.22. PT-141 is the first compound in a new drug class called melanocortin receptor agonists under development to treat sexual dysfunction. This new chemical entity is being evaluated in phase II clinical trials studying the efficacy and safety profile of varying doses of this novel compound in...
Source: Women's Health Weekly (2005-10-27)
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