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Biotech / Medical : PTN - Palatin Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (29)	3/2/2001 9:44:10 AM
From: tuck	Read Replies (1) \| Respond to of 142

>>Palatin Technologies Reports Second Quarter 2001 Results PRINCETON, N.J.--(BUSINESS WIRE)--March 2, 2001--Palatin Technologies, Inc. (AMEX:PTN - news) today announced its financial results for its second quarter of fiscal 2001, which ended December 31, 2000. The Company reported a loss of $1,825,000, or $0.18 per share, on revenues of $665,000 for the quarter. This compares to a loss of $2,788,000, or $0.38 per share, on revenues of $1,010,00 for the same period last year. Operating expenses for the quarter were $3,093,000 compared to $3,912,000 for the same period last year. The decrease in net loss for the quarter is largely due to the decrease in research and development costs related to LeuTech®, the Company's radio-imaging product for diagnosis and management of equivocal appendicitis. Total revenue for the first six months of fiscal year 2001 ended December 31, 2000 was $1,520,000 with operating expenses of $6,255,000 and a loss of $4,047,000 or $0.44 per share. This compares with a loss of $4,210,000 or $0.58 per share, with revenues of $2,760,000 and operating expenses of $7,130,000 for the same period last year. According to Palatin's Chief Financial Officer, Stephen T. Wills, the net cash used in operating activities for the six months ended December 31, 2000 totalled $3.7 million with the balance sheet reflecting cash, cash equivalents and investments of $16.7 million as of December 31, 2000.<< snip For the tables, too, go to biz.yahoo.com Cheers, Tuck