A collaboration with British pharmaceutical firm AstraZeneca helped boost revenue for Palatin Technologies in its second fiscal quarter (end-December 31, 2008).
The Cranbury, NJ-based radiopharmaceutical developer increased revenue to $1.2 million, compared with $742,835 in the second quarter of fiscal 2007. Palatin also reported a net loss of $417,000 in the quarter, compared with a net loss of $3.8 million in the same quarter a year ago. The company credited a decrease in both research and development and general and administrative operating expenses for the reduced net loss in the second fiscal quarter.
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