Palatin Technologies Files S-1 for Securities Offering

TL;DR

Palatin Tech just filed an S-1, looks like they're prepping for a public offering. 🚀

AI Summary

Palatin Technologies, Inc. filed an S-1 registration statement on July 25, 2024, indicating plans to offer securities. The company, incorporated in Delaware with its principal executive offices in Cranbury, New Jersey, is involved in the pharmaceutical preparations industry. This filing is a standard step for companies intending to raise capital through public offerings.

Why It Matters

This S-1 filing signals Palatin Technologies' intention to access public markets for potential capital raising, which could fund future research, development, or expansion efforts.

Risk Assessment

Risk Level: medium — As a pharmaceutical company filing an S-1, Palatin Technologies is likely in the process of seeking significant capital, which carries inherent market and execution risks associated with public offerings and the biotech sector.

Key Numbers

• 333-281007 — SEC File Number (Identifies this specific registration statement with the SEC.)
• 08512 — ZIP Code (Part of the company's principal business address.)

Key Players & Entities

• Palatin Technologies, Inc. (company) — Registrant
• July 25, 2024 (date) — Filing Date
• Delaware (jurisdiction) — State of Incorporation
• Cranbury, New Jersey (location) — Principal Executive Offices
• Stephen T. Wills (person) — Executive Vice President, Chief Financial Officer and Chief Operating Officer
• Thompson Hine LLP (company) — Legal Counsel
• Faith L. Charles, Esq. (person) — Counsel

FAQ

Key Financial Figures

• $0.01 — 9,915 shares of common stock, par value $0.01 per share, of Palatin Technologies, Inc
• $1.73 — r common stock on the NYSE American was $1.73 per share. This prospectus describes t
• $100.0 million — ecause our annual revenue was less than $100.0 million during the most recently completed fisc
• $560.0 million — ck held by non-affiliates was less than $560.0 million on the last business day of our most re
• $1.88 — ment to (i) lower the exercise price to $1.88 per share for the 3,233,277 Existing Wa
• $6.1 million — gregate gross proceeds of approximately $6.1 million from the exercise of the Existing Warra
• $2 million — company to have stockholders' equity of $2 million or more if the listed company has repor
• $4 million — company to have stockholders' equity of $4 million or more if the listed company has repor

Filing Documents

• ptn_s1.htm (S-1) — 284KB
• ptn_ex51.htm (EX-5.1) — 13KB
• ptn_ex232.htm (EX-23.2) — 2KB
• ptn_ex107.htm (EX-FILING FEES) — 14KB
• ptn_s1img4.jpg (GRAPHIC) — 32KB
• ptn_s1img3.jpg (GRAPHIC) — 8KB
• ptn_s1img1.jpg (GRAPHIC) — 8KB
• ptn_ex51img3.jpg (GRAPHIC) — 5KB
• ptn_ex51img2.jpg (GRAPHIC) — 9KB
• ptn_ex51img1.jpg (GRAPHIC) — 9KB
• 0001654954-24-009422.txt ( ) — 412KB

USE OF PROCEEDS

USE OF PROCEEDS 7 DIVIDEND POLICY 7

DESCRIPTION OF SECURITIES

DESCRIPTION OF SECURITIES 8 SELLING STOCKHOLDERS 11 PLAN OF DISTRIBUTION 13 LEGAL MATTERS 16 EXPERTS 16 WHERE YOU CAN FIND MORE INFORMATION 16 INFORMATION WE INCORPORATE BY REFERENCE 16 No dealer, salesperson, or other person is authorized to give any information or to represent anything not contained in this prospectus. You must not rely on any unauthorized information or representations. This prospectus is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current only as of its date. i Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This prospectus, including the documents incorporated by reference, contains, and any prospectus supplement may contain, "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our significant operating losses since our inception and our need to obtain additional financing has caused management to determine there is substantial doubt regarding our ability to continue as a going concern; our ability to obtain additional financing on terms acceptable to us, or at all, including unavailability of funds or delays in receiving funds as a result of economic disruptions; our expectation that we will incur losses for the foreseeable future and may never achieve or maintain profitability; our business, financial condition, and results of operations may be adversely a

RISK FACTORS

RISK FACTORS Investing in our common stock involves risk. Prior to making a decision about investing in our common stock, you should carefully consider the risk factors below as well as those discussed under the heading "Risk Factors" in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, which are incorporated herein by reference and may be amended, supplemented, or superseded from time to time by other reports we have filed with the SEC or will file with the SEC in the future. If any of these risks actually occurs, our business, results of operations, and financial condition could suffer. In that case, the trading price of our common stock could decline, and you could lose all or a part of your investment. Risks Related to this Offering The sale or availability for sale of shares issuable pursuant to this prospectus may depress the price of our common stock, dilute the interest of our existing stockholders, and encourage short sales by third parties, which could further depress the price of our common stock. To the extent that the Selling Stockholders sell shares of our common stock pursuant to this prospectus, the market price of our common stock may decrease due to the additional selling pressure in the market. In addition, the dilution from exercise of the Inducement Warrants may cause stockholders to sell their shares

View Full Filing

View this S-1 filing on SEC EDGAR