CRANBURY, N.J., Oct. 7, 2024 /PRNewswire/ — Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, today announced it received a notice from the staff of NYSE American LLC (the “Exchange”) that Palatin was not in compliance with the Exchange’s continued listing standards under Section 1003(a)(iii) of the NYSE American Company Guide. Section 1003(a)(iii) requires a listed company to have stockholders’ equity of $6 million or more if the listed company has reported losses from continuing operations and/or net losses in its five most recent fiscal years. Palatin previously reported that it was not in compliance with continued listing standards under Section 1003(a)(i) and (ii).
Palatin remains subject to the procedures and requirements of Section 1009 of the NYSE American Company Guide. Palatin…
