Palatin Technologies, Inc. (NYSEMKT:PTN) Reports Extension Of Options Deadline

Posted by Peter Lauro April 3, 2014 0 Comment 2277 views

Palatin Technologies, Inc. (NYSEMKT:PTN) stock market valuation has zoomed upwards by a 15.1 percent post the announcement by the small capped biopharmaceutical firm on 31st March after it agreed to extend the term of a cialis side effects ‘in force option’ it had previously entered into with a prospective partner by further 30 days.

The new deadline for the unnamed partner prospect, to licence the rights to kamagra vs viagra market and sell the Cranbury based drug firms clinical testing undergoing drug “bremelanotide” across Europe (spanning whole of European Union) will now expire on 30th of April, 2014. The yet to be

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commercially approved drug is designed to treat sexual dysfunction symptoms in female adults.

Option Extension Background

In November of 2013, Palatin Technologies, Inc. (NYSEMKT:PTN) had announced that it had entered into a option agreement with a cialis and grapefruit Europe based pharma firm as part of which it had received a $1 million non returnable deposit, in exchange of generic cymbalta which it was extending an option to buy out exclusive rights of the yet to be approved drug candidate bremelanotide. The option was supposed to expire on 31th of zoloft dosage March.

In the run up to entering into the November agreement, levitra reviews both the concerned firms had reached out to European Medicines Agency which is U.S Food and Drug

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administration’s counterpart in Europe and received in-depth advise on the quantum and quality of clinical test data required for getting the drug approved for commercialization in Europe.

Rational For Extension Explained

Explaining the reason for providing the extension to its prospective partner, Palatin Technologies, Inc. (NYSEMKT:PTN) indicated that more time was sought by the European drug maker to complete its market survey to arrive at a price valuation for the under development drug.

Road Ahead

Company President, Chief Executive Officer and Director Carl Spana Ph.D. has been quoted to have spelt out the options in front of the firm by claiming that, “The discussions with EMA have proceeded exceptionally well and we believe their guidance on cialis price a phase 3 program and approval pathway has been positive and clear. We are also in active discussions with multiple pharmaceutical companies on commercialization of bremelanotide in the United States.”

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