Palatin Technologies Stock Moves Higher After Outlining Plans For Dry Eye Disease Treatment

Palatin Technologies Inc PTN has completed an End-of-Phase 2 (EOP2) meeting with the FDA for PL9643 for the treatment of dry eye disease (DED).
Palatin remains on track to initiate the Phase 3 program in DED patients during Q4 of 2021, with data readout expected in 2H of 2022.
If the program progresses as planned, a marketing application submission is targeted for 2H of 2023.
PL9643 is a novel melanocortin agonist, delivered to the eye topically via eyedrops.
Palatin previously announced positive results in its Phase 2, demonstrating statistically significant improvement in multiple signs and symptoms. No safety signals were identified, and PL9643 had excellent ocular tolerability.
Price Action: PTN shares are up 9.88% at $0.60 during the premarket session on the last check Tuesday.