WASHINGTON (dpa-AFX) - Palatin Technologies Inc. (PTN) reported net income of $13.3 million or $0.07 per share, for the fourth-quarter ended June 30, 2017, compared to a net loss of $13.4 million, or $0.09 per basic and diluted share, for the same period in 2016.
The difference between the three months ended June 30, 2017 and 2016 was primarily attributable to the recognition of $33.9 million in contract revenue pursuant to license agreement with AMAG.
For the quarter and ended June 30, 2017, Palatin recognized $33.9 million, in contract revenue related to our license agreement with AMAG. There were no revenues recorded in the quarter ended June 30, 2016.
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