Attached files
Exhibit 99.1
For
Immediate Release
Palatin
Technologies Announces Proposed Public Offering of Common Stock and
Warrants
CRANBURY, NJ,
November 30, 2016 (PRNewswire) -- Palatin Technologies, Inc.
(“Palatin”) (NYSE MKT: PTN) today announced that it has
commenced an underwritten public offering, subject to market and
other conditions, to issue and sell shares of its common stock and
warrants to purchase shares of its common stock. There can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Canaccord Genuity
is acting as sole book-running manager, Roth Capital Partners is
acting as lead manager and Chardan Capital Markets is acting as
co-manager for the offering.
The
shares of common stock and warrants to purchase shares of common
stock described above are being offered pursuant to a shelf
registration statement previously filed with and declared effective
by the Securities and Exchange Commission (SEC). A preliminary
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and will be available for free
on the SEC’s website at www.sec.gov. Copies of the
preliminary prospectus supplement and the accompanying prospectus
relating to the offering may also be obtained from Canaccord
Genuity Inc., Attention: Equity Syndicate Department, 99 High
Street, 12th Floor, Boston,
Massachusetts 02110, by telephone at (617) 371-3900, or by email at
prospectus@canaccordgenuity.com.
This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of Palatin’s securities.
No offer, solicitation or sale will be made in any state or other
jurisdiction in which such offering, solicitation or sale would be
unlawful.
About
Palatin Technologies
Palatin
Technologies, Inc. is a biopharmaceutical company developing
targeted, receptor-specific peptide therapeutics for the treatment
of diseases with significant unmet medical need and commercial
potential. Palatin’s strategy is to develop products and then
form marketing collaborations with industry leaders in order to
maximize their commercial potential.
Forward-Looking
Statements
Statements in this
press release that are not historical facts, including statements
about future expectations of Palatin Technologies, Inc., such as
statements about the anticipated public offering and other
statements containing the words “anticipate,”
“believe,” “estimate,”
“expect,” “intend,” “may,”
“plan,” “predict,” “project,”
“target,” “potential,” “will,”
“would,” “could,” “should,”
“continue,” and similar expressions, are
“forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and as that term is defined in the
Private Securities Litigation Reform Act of 1995. Palatin intends
that such forward-looking statements be subject to the safe harbors
created thereby. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
Palatin’s actual results to be materially different from its
historical results or from any results expressed or implied by such
forward-looking statements. Palatin’s actual results may
differ materially from those discussed in the forward-looking
statements for reasons including, but not limited to, the
uncertainties related to market conditions and the
completion of the public offering on the anticipated terms or at
all, and other factors discussed in Palatin’s periodic
filings with the Securities and Exchange Commission. Palatin is not
responsible for updating for events that occur after the date of
this press release.
Palatin
Technologies Investor Inquiries:
Stephen
T. Wills, CPA, MST
Chief
Operating Officer / Chief Financial Officer
Tel:
(609) 495-2200 / info@palatin.com
Palatin
Technologies Media Inquiries:
Paul
Arndt, MBA, LifeSci Advisors, LLC
Managing
Director
Tel:
(646) 597-6992 / Paul@LifeSciAdvisors.com
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