Palatin Technologies (PTN) : Concannon Wealth Management has sold out all of its stake in Palatin Technologies during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 10,000 shares of Palatin Technologies which is valued at $4,170.
Palatin Technologies opened for trading at $0.59 and hit $0.63 on the upside on Wednesday, eventually ending the session at $0.607, with a gain of 14.74% or 0.078 points. The heightened volatility saw the trading volume jump to 11,53,009 shares. Company has a market cap of $41 M.
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Palatin Technologies Inc. is a biopharmaceutical company that develops targeted receptor-specific peptide therapeutics for the treatment of diseases. The Company’s programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product in clinical development is Bremelanotide which is used for the treatment of female sexual dysfunction (FSD). In addition the Company has drug candidates or development programs for obesity erectile dysfunction cardiovascular diseases pulmonary diseases inflammatory diseases and dermatologic diseases. Its other drug development programs include Melanocortin receptor-4 (MC4r); PL-3994 and Melanocortin receptor-1 (MC1r). It is developing other Melanocortin drug discovery programs in the melanocortin field primarily developing peptide compounds including MC1r agonists and peptides specific for MC4r including both agonists and antagonists.