CRANBURY, N.J. - Palatin Technologies (NYSE:PTN), Inc. (NYSE American: PTN) today outlined its clinical development milestones for 2024, following a year of progress in 2023. The biopharmaceutical company, which focuses on melanocortin receptor modulating molecules, announced the expected readouts for several clinical studies across its pipeline, including treatments for dry eye disease (DED), ulcerative colitis (UC), obesity, and male sexual dysfunction.
The Phase 3 study for PL9643, a melanocortin agonist targeting DED, has completed patient enrollment, and the company anticipates topline data early in the first quarter. This study, known as MELODY-1, is part of a larger program that includes the upcoming MELODY-2 and MELODY-3 studies, which are expected to begin in the latter half of the year.
In the field of UC, Palatin's oral PL8177 Phase 2 clinical study is on track, with an interim analysis due in the first quarter and topline results expected in the second quarter. The company also highlighted its metabolic program, particularly a Phase 2 clinical study combining a melanocortin receptor 4 (MCR4) agonist with a glucagon-like peptide-1 (GLP-1), aimed at treating obesity. This study is slated to start in the first quarter, with topline results anticipated in the second half of the year.
Furthermore, Palatin is set to begin a Phase 2 clinical study in the first quarter for bremelanotide, co-formulated with a PDE5 inhibitor, for the treatment of erectile dysfunction in patients unresponsive to PDE5i monotherapy. Results from this study are expected in the second half of 2024.
Additionally, the company completed the sale of Vyleesi, a treatment for hypoactive sexual desire disorder (HSDD) in women, to Cosette Pharmaceuticals for up to $171 million, including $12 million upfront and up to $159 million in sales-based milestones.
Palatin's strategy involves developing first-in-class medicines and forming marketing collaborations to maximize their commercial potential. The company's focus remains on diseases with significant unmet medical needs and commercial opportunities, leveraging its expertise in the melanocortin receptor system.
This news is based on a press release statement from Palatin Technologies, Inc.
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