aibioPalatin Technologies to move stock listing from NYSE American to Nasdaq Capital Market
Tickers PTN
Palatin will switch from NYSE American to the Nasdaq Capital Market, with its last NYSE American trading day on May 28, 2026. The move needs no shareholder action, but the company's annual report carries a going-concern warning.
Key facts
- Company
- Palatin Technologies, Inc. (NASDAQ: PTN)
- News type
- Listings
- Primary source
- PALATIN TECHNOLOGIES INC Form 8-K filed May 18, 2026 (SEC EDGAR)
Palatin Technologies, Inc. (NYSE American: PTN) said on May 18, 2026 that it will move its common stock from NYSE American to the Nasdaq Capital Market. Nasdaq has approved the listing. The company expects its shares to stop trading on NYSE American at the close on May 28, 2026 and to begin trading on Nasdaq on May 29, 2026, still under the symbol "PTN," according to a Form 8-K.
The transfer
The 8-K was filed under Item 3.01, the item for notices about delisting or changes in listing. On May 18, 2026, acting under authority from its board, Palatin gave NYSE American notice that it intends to withdraw its common stock voluntarily from that exchange. The common stock has a par value of $0.01 per share. The company's press release, furnished as Exhibit 99.1, says existing stockholders need take no action for the transfer.
President and Chief Executive Officer Carl Spana, Ph.D., said "we are pleased to announce our listing on the Nasdaq Capital Market." He also said the move "will improve the visibility of our common stock, enhance trading liquidity in our shares, and provide us with greater exposure to institutional investors." The company gives no reason in the filing for leaving NYSE American. The change is a company decision, and the filing does not say that the NYSE American listing was at risk.
The programs, and how early they are
Palatin describes itself as a biopharmaceutical company focused on the melanocortin receptor system. Its lead effort is selective MC4R-based obesity drugs aimed at rare obesity disorders, including hypothalamic obesity, Prader-Willi syndrome and Bardet-Biedl syndrome. The company's once-weekly injectable MC4R peptide agonist is on track for an investigational new drug, or IND, submission in the fourth quarter of calendar 2026. Its oral MC4R agonist has a next-generation candidate targeted for an IND submission in the first half of calendar 2027. Neither program has an IND on file yet.
The company's most advanced clinical result is bremelanotide given together with tirzepatide, a GLP-1 agonist. The 10-K says patient dosing began in August 2024 and that the company reported positive topline data in the first quarter of calendar 2025. Its description of the study calls the data positive but gives no weight-loss figures or statistical results to support that label. The 10-K lists the results and timing of regulatory submissions for that combination among its forward-looking risks.
The money
The 10-K for the fiscal year ended June 30, 2025, filed September 23, 2025, carries a going-concern warning. Its risk factors say the company's "significant operating losses since our inception and our need to obtain additional financing has caused management to determine there is substantial doubt regarding our ability to continue as a going concern." It reports a net loss of $17.3 million for the year ended June 30, 2025, compared with $29.7 million a year earlier, and an accumulated deficit of $459.1 million as of June 30, 2025. It says it expects substantial net losses over the next few years.
The 10-K also says Cosette Pharmaceuticals acquired Palatin's Vyleesi product, sold for premenopausal women with hypoactive sexual desire disorder, in December 2023. The company says it does not expect significant milestone payments from Cosette for at least the next year. The company's stated strategy is to develop products and then form collaborations with industry leaders. Its listing move does not change that funding need, and the filing gives no figures on how the company plans to fund the obesity programs.
Trading ahead of the change
The stock keeps trading on NYSE American through the close on May 28, 2026. The symbol is to remain PTN on Nasdaq from May 29, 2026. The filing does not say whether Nasdaq's listing requirements are a reason for the change, and it does not say what the company's share count or market value is after the move.