December 2016
Palatin Technologies, Inc.
Canaccord Genuity acts as Sole Bookrunning Manager for a US$16.5 million public offering of common stock and warrants by Palatin Technologies.
Canaccord Genuity is pleased to announce that on December 7, 2016, it completed a public offering of common stock and warrants for Palatin Technologies (NASDAQ: PTN). The Company issued a total of 25,384,616 shares of its common stock and five year Series J warrants, to purchase 12,692,310 shares of its common stock for gross proceeds of $16.5 million. Canaccord Genuity acted as Sole Bookrunning Manager for the offering.
This marks the second transaction Canaccord Genuity has successfully completed for Palatin in 2016. On August 1, 2016, Palatin Technologies completed a previously disclosed underwritten offering of units with gross proceeds of $9.3 million.
Palatin Technologies is a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential.
