Palatin Technologies (NYSE: PTN) announced the closing of an upsized underwritten public offering on November 12, 2025, raising approximately $18.2 million of gross proceeds following full exercise of the underwriters' over-allotment option. The offering comprised 2,795,384 shares of common stock (or pre-funded warrants) and accompanying Series J and Series K warrants to purchase up to 2,795,384 shares each at a combined public offering price of $6.50 per share with accompanying warrants.
The company may receive up to an additional $18.2 million if milestone-related Series J warrants are cashed, though exercise is not guaranteed. Net proceeds are intended to support the company's obesity program, working capital and general corporate purposes. Closing restored the company's compliance with NYSE American listing standards and resumed trading under the symbol PTN on November 12, 2025.
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