Revenues from research grants, licensing fees, and other sources helped radiopharmaceutical developer Palatin Technologies reduce its net loss in fiscal 2000. The Princeton, NJ, company said the higher revenues were attributable primarily to its strategic relationship with Mallinckrodt of St. Louis, which is splitting R&D costs with Palatin for one of its primary products, LeuTech.
For the year (end-June 30), Palatin reported revenues of $5.1 million, compared with revenues of $610,000 in fiscal 1999. The company posted a net loss of $8.2 million last year, compared with a net loss of $12 million the year before.
LeuTech, a radiolabeled infection imaging kit, is currently under review at the Food and Drug Administration.
By AuntMinnie.com staff writersOctober 6, 2000
Related Reading
FDA wants more data on Palatin’s LeuTech agent, September 28, 2000
FDA finds Palatin’s LeuTech agent safe and effective, July 11, 2000
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