Up 100%..and moving towards %300
Posted by ChartWiz11 on :
My target is above 0.25. There is only 80+ million shares outstanding.. Very above average volume.
Posted by ChartWiz11 on :
with Astra Zeneca potential 300 Million dollars and has a 6 million dollar market cap FULLY funded for 2009 from last news on deal PTN
"The license extension and clinical trial agreements point to the progress Palatin and AstraZeneca have made with their collaborative melanocortin receptor obesity program," stated Stephen T. Wills, Palatin's EVP of Operations and CFO. "Of the total $6.6 million due from AstraZeneca, we anticipate receiving $4.1 million by December 31, 2008 and the remaining $2.5 million in the first quarter of calendar year 2009. This $6.6 million, coupled with $1.7 million that Palatin received this month from the sale of net operating losses to the State of New Jersey, $700,000 from the sale of non-core fixed assets, and a cash and cash equivalents balance of $8.1 million at September 30, 2008, gives Palatin sufficient cash to fund its projected operations through calendar year 2009."
Under terms of the original collaboration and license agreement signed in January 2007, Palatin received an upfront payment of $10 million from AstraZeneca and is eligible for milestone payments totalling $300 million, with up to $180 million contingent upon development and regulatory milestones and the balance on achievement of sales targets, together with the payment of stepped royalties on product sales to double digit rates, dependent on sales achieved. AstraZeneca is responsible for product commercialization, product discovery and development costs.
Posted by ChartWiz11 on :