Press release
Palatin Technologies' Obesity Drug Receives FDA Orphan Designation; Phase 2 Results Imminent (NYSE: PTN)
In an exciting development for the biopharma market, Palatin Technologies (NYSE: PTN)* announced that it has secured FDA orphan drug designation for PL7737, its oral melanocortin-4 receptor (MC4R) agonist, targeting obesity caused by leptin receptor deficiency. According to the company, this designation offers Palatin significant benefits, including tax credits, fee waivers, and potential seven-year market exclusivity upon approval. The company has begun toxicology studies with plans to submit an IND in Q4 2025 and expects clinical data in early 2026.
Major catalysts are approaching for Palatin. Palatin also shared that it has completed analysis of two key Phase 2 studies: the BMT-801 trial testing bremelanotide with tirzepatide for obesity, and the PL8177 trial for ulcerative colitis. Results from both are expected within days. If positive, each could be a major development for the pharma company.
PL7737, the drug that just received orphan drug designation, could revolutionize treatment for rare genetic obesity disorders. Unlike the only current FDA-approved treatment requiring daily injections, Palatin's oral formulation offers a more convenient alternative. The company is also exploring its use for hypothalamic obesity, with Phase 1 studies planned for late 2025. CEO Carl Spana called the designation "a key step in developing Palatin's MC4R receptor agonists for rare obesity conditions." The obesity therapeutics market is reportedly projected to reach $44 billion by 2030.
MC4R agonists represent a promising new class of therapeutics that may enhance existing GLP-1 treatments. Palatin's development of both injectable and oral MC4R agonists positions it to address multiple segments of the obesity market. Reportedly, A Pharma Analyst on Wall Street seems to be optimistic about Palatin's prospects, giving the company a Buy rating with a $7.00 price target, representing a significant premium over current levels.
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Recent Palatin Technologies News Highlights:
* [https://finance.yahoo.com/news/palatin-completes-phase-2-obesity-123000283.html]
* [https://finance.yahoo.com/news/palatin-announces-positive-phase-iib-123000769.html]
* [https://finance.yahoo.com/news/palatin-announces-completion-patient-enrollment-123000466.html]
*DISCLAIMER: This alert is published by Wall Street Wire. Wall Street Wire does not provide financial or investment advice, and our content does not represent an offer to buy or sell securities. Wall Street Wire is a promotional content brand and its operators are not registered brokers, dealers, or investment advisers. This alert contains and is a form of paid promotional content for to Palatin Technologies and was produced as part of their paid subscription to Wall Street Wire's distribution and promotional content services. This alert has not been reviewed or approved by Palatin Technologies prior to publication. Please review the full disclaimers and compensation disclosures here: https://redditwire.com/terms
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