Palatin to raise $2.6 million

Palatin Technologies of Cranbury, NJ, plans to raise $2.6 million in a direct offering of 9.6 million shares of its common stock.

The offering will close March 2. Net proceeds from the financing will be used to fund research and development and for general corporate purposes, according to Palatin.

Related Reading

Palatin's listing compliance plan accepted by NYSE, March 5, 2009

Palatin posts mixed results in Q2, February 17, 2009

Palatin nabs research cash, February 12, 2009

Palatin receives NYSE warning, December 31, 2008

Palatin suspends NeutroSpec distribution, December 19, 2005

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