Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading session. Palatin is a pharmaceutical firm focused on creating first-in-class medications that target the melanocortin and natriuretic peptide receptor systems with targeted receptor-specific pharmaceutical candidates for illnesses with high unfulfilled medical needs and economic potential.
Carl Spana, President, and CEO of Palatin Technologies gave a presentation today at the Eyecelerator@ASCRS Conference in Las Vegas, NV, according to Palatin Technologies. The talk is part of a general session titled “Dry Eye: The Need for Innovation,” which includes many Company Showcases. The briefing included melanocortins’ function in resolving inflammation, as well as results from a Phase 2 study using Palatin’s compound PL9643 for dry eye disease (DED) and information regarding Palatin’s melanocortins in a retinal disease development program.
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The American Academy of Ophthalmology and the American Society of Cataract and Refractive Surgery have teamed together to form Eyecelerator. With live conferences, virtual programs, and a next-generation networking system, it aims to link entrepreneurs, investors, corporations, and physicians in order to drive ophthalmic innovation.
Palatin plans to start a Phase 3 clinical investigation with PL9643 in individuals with dry eye disease in the fourth quarter of 2021, with data released in the second half of 2022. If all goes according to plan, an NDA will be submitted in the second half of the calendar year 2023.
PL9643 is a new melanocortin agonist that is applied topically to the eye through eyedrops. Palatin earlier stated that its Phase 2 research of PL9643 for the treatment of DED had yielded encouraging findings. After 2 weeks of dosage and at the 12-week visit, the mild to the severe patient group showed a statistically significant difference in many signs and symptoms. There were no negative side effects, and PL9643 was well tolerated by the eyes.