WASHINGTON (dpa-AFX) - Palatin Technologies, Inc. (PTN) Monday announced that it has appealed the NYSE American's decision to delist its stock after failing to meet stockholders' equity requirements by the April 10, 2025 deadline.
While the stock continues to trade during the 60-90 day appeal process, a final ruling will determine its listing status.
The company is actively pursuing out-licensing deals, equity financing, and strategic funding to improve its financial position. CEO Carl Spana emphasized confidence in restoring compliance and building a stronger foundation for growth, though success of the appeal remains uncertain.
PTN is currently trading at $0.2075 or 25.7576% higher on the NYSE American.
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