Palatin Technologies Stock Moves Higher After Outlining Plans For Dry Eye Disease Treatment

  • Palatin Technologies Inc PTN has completed an End-of-Phase 2 (EOP2) meeting with the FDA for PL9643 for the treatment of dry eye disease (DED).
  • Palatin remains on track to initiate the Phase 3 program in DED patients during Q4 of 2021, with data readout expected in 2H of 2022. 
  • If the program progresses as planned, a marketing application submission is targeted for 2H of 2023.
  • PL9643 is a novel melanocortin agonist, delivered to the eye topically via eyedrops. 
  • Palatin previously announced positive results in its Phase 2, demonstrating statistically significant improvement in multiple signs and symptoms. No safety signals were identified, and PL9643 had excellent ocular tolerability.
  • Price Action: PTN shares are up 9.88% at $0.60 during the premarket session on the last check Tuesday.

Posted In: Briefsdry eye diseasePhase 3 TrialBiotechNewsPenny StocksHealth CareFDAGeneral

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