Palatin Technologies, Inc. provided a corporate update, highlighted the Company's key calendar year 2023 accomplishments and outlined its anticipated calendar year 2024 clinical development milestones. Palatin is now focused on developing novel therapeutics that modulate the melanocortin receptor system. Program Updates and Expected Milestones for 2024: PL9643 melanocortin agonist Phase 3 study for the treatment of DED: Patient enrollment completed (n=570) in Phase 3 MELODY-1 study.

Data base lock second half of January 2024; Phase 3 safety and efficacy study MELODY-2 and the open label MELODY-3 study are anticipated to commence patient enrollment in the second half of calendar year 2024; PL8177 oral melanocortin agonist phase 2 study for the treatment of UC: Interim assessment targeted for the first quarter of calendar year 2024; Topline data readout is expected in the second half of calendar Year 2024; Bremelanotide BREAKOUT Phase 2 study in patients with diabetic kidney disease: The Topline data readout is expects in the second quarter of calendar year 2024; and Phase 2 clinical study in PDE5i non-responder ED patients is expected to commence in the first quarter of calendar year 2022; Topline data readout are expected in the second half of fiscal year 2024; and Vyleesi (bremelanotide injection) /Hypoactive Sexual Desire Disorder (HSDD); Completed asset sale to Cosette Pharmaceuticals for up to $171 million in December 2023 for female HSDD: $12 million upfront, plus potential sales-based milestones of up to $159 million based on annual net sales ranging from $15 million to $200 million; Eligible to receive regulatory approval milestones of $200 million; and Eligible to receive regulatory approval milestone of $1 million in December 2023; and $12 million upfront Plus Sales-Based Milestones of up to $159 million based on annual net sales ranging from $15 million to $200 million. Eligible to receive regulatory approval milestones of $10.5 million related to Fosun ($7.5MChina) and Kwangdong ($3.0 Million S. Korea) licenses ? Kwangdong completed a required Phase 3 study in HSDD patients and is preparing a regulatory approval submission.

Palatin retained rights and use of bremelanotide for obesity and male erectile dysfunction indications.