What's Happening?
Palatin Technologies, Inc. has announced a reverse stock split at a ratio of 1-for-50, effective August 8, 2025. This move aims to increase the per-share market price of the company's common stock to comply with NYSE American's listing qualifications. The stock will begin trading on a split-adjusted basis on the OTCQB Market under the ticker symbol PTNTD for 20 trading days. The reverse stock split was approved by stockholders at the annual meeting on July 25, 2025.
Why It's Important?
The reverse stock split is a strategic move by Palatin Technologies to maintain its listing on the NYSE American by addressing the low selling price of its shares. This action is crucial for the company to continue attracting investors and maintaining liquidity in the market. By consolidating shares, Palatin aims to enhance its market perception and potentially stabilize its stock price, which can be beneficial for current and prospective investors.
AD
What's Next?
Following the reverse stock split, Palatin will focus on its biopharmaceutical developments, particularly in advancing its melanocortin receptor systems. The company plans to partner with leading pharmaceutical firms to accelerate product development and expand market access. Investors will be watching closely to see if the stock split achieves its intended effect of stabilizing the stock price and meeting compliance requirements.
