LONDON, UK / ACCESSWIRE / January 05, 2018 / Active-Investors.com has just released a free research report on Palatin Technologies, Inc. (NYSE: PTN) ("Palatin"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=PTN as the Company's latest news hit the wire. On January 03, 2018, the biopharmaceutical Company announced that the US Food and Drug Administration (FDA) has accepted its investigational new drug (IND) application to start with its clinical investigation of subcutaneous injection PL-8177 as a potential treatment for patients with ulcerative colitis. Palatin expects to commence a Phase-1 single and multiple ascending dose study in the current quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Palatin Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Palatin has Multiple Programs to Develop Melanocortin-based Therapeutics for Patients with Inflammatory Diseases
Carl Spana, Ph.D., President and Chief Executive Officer of Palatin, stated that the FDA's approval of the IND application is an important milestone for the Company as it accelerates its drug discovery programs following the successful licensing of bremelanotide for hypoactive sexual desire disorder. Carl added that Palatin has explored the potential of modulating the melanocortin system in the treatment of a wide variety of diseases, and has multiple programs to develop melanocortin based therapeutics for patients with inflammatory diseases.
FDA Approved Drugs in 2017 for Treatment of Ulcerative Colitis
- On April 25, 2017, Samsung Bioepis's Renflexis (infliximab-abda), a biosimilar of Remicade (infliximab), was approved by FDA to treat a number of autoimmune diseases, including adult and pediatric Crohn's disease and adult ulcerative colitis.
- On August 29, 2017, Boehringer Ingelheim Pharmaceuticals received FDA approval for Cyltezo™, a biosimilar to Humira®, in a pre-filled syringe for the treatment of multiple chronic inflammatory diseases, including rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, psoriatic arthritis, ulcerative colitis, adult Crohn's disease, plaque psoriasis, and ankylosing spondylitis.
- On December 13, 2017, FDA approved Pfizer's IXIFI™, a chimeric human-murine monoclonal antibody against tumor necrosis factor, as a biosimilar to Remicade® (infliximab), for the treatment for patients with rheumatoid arthritis, Crohn's disease, pediatric Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and plaque psoriasis.
What is Ulcerative Colitis?
Ulcerative colitis is a disease that causes inflammation and sores (ulcers) in the lining of the large intestine. It usually affects the lower section and the rectum, but can also affect the entire colon. But most people who have this disease are diagnosed before the age of 30. The most common symptoms of ulcerative colitis are rectal bleeding, abdominal cramping, and diarrhea.
About PL-8177
PL-8177, Palatin's lead clinical development candidate for ulcerative colitis and other inflammatory bowel diseases, is a selective melanocortin receptor 1 (MC1r) agonist peptide. PL-8177 has demonstrated efficacy in preclinical models for autoimmune uveitis, inflammatory bowel disease and nephritis. Palatin has developed an oral formulation of PL-8177 that has been validated in animal studies and is scheduled to be explored in future clinical investigations.
About Palatin Technologies, Inc.
Founded in 1986 and based in Cranbury, New Jersey, 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. The Company's programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.
Stock Performance Snapshot
January 04, 2018 - At Thursday's closing bell, Palatin Technologies' stock climbed 1.72%, ending the trading session at $0.95.
Volume traded for the day: 1.17 million shares.
Stock performance in the last month - up 1.85%; previous three-month period - up 17.52%; past twelve-month period - up 81.92%; and year-to-date - up 10.14%
After yesterday's close, Palatin Technologies' market cap was at $178.74 million.
Price to Earnings (P/E) ratio was at 20.57.
The stock is part of the Healthcare sector, categorized under the Diagnostic Substances industry. This sector was up 0.1% at the end of the session.
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