PTN
Palatin Technologies, Inc.
NasdaqCMUSDEQUITY
Healthcare
DELAYED
Sell
-42/100
Last price
9.41
▼ 0.07 (0.74%)
MARKET · —
Price
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Tool
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Range —
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Open
—
Prev close
9.48
Day high
9.88
Day low
9.00
Volume
2.76K
Market cap
$16.76M
P/E (TTM)
—
52W range
5.61 – 31.00
Trailing performance
Returnvs SPY
1W
+3.18%
+1.2%
1M
-25.91%
-27.1%
3M
-8.37%
-12.9%
6M
-50.47%
-68.7%
YTD
-38.82%
-53.1%
1Y
+19.87%
+3.5%
3Y
-87.54%
-169.8%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
10 more panels on PTN open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
144.43K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Dec 24, 25 | WILLS STEPHEN T Chief Operating Officer |
SELL | 565 | $9.46K | Direct |
| Dec 9, 25 | PRENDERGAST JOHN K. A. PH.D. Director |
STOCK | 2.60K | $0 | Direct |
| Dec 9, 25 | SPANA CARL Chief Executive Officer |
STOCK | 885 | $0 | Direct |
| Dec 9, 25 | WILLS STEPHEN T Chief Operating Officer |
STOCK | 770 | $0 | Direct |
| Dec 9, 25 | DUNTON ALAN WILLIAM Director |
STOCK | 2.00K | $0 | Direct |
| May 7, 25 | DE VEER ROBERT K JR Director |
BUY | 100.00K | $10.18K | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
DE VEER ROBERT K JR |
Director | 138.06K | Purchase |
DUNTON ALAN WILLIAM |
Director | 14.08K | Stock Award(Grant) |
PRENDERGAST JOHN K. A. PH.D. |
Director | 15.10K | Stock Award(Grant) |
SPANA CARL |
Chief Executive Officer | 64.70K | Stock Award(Grant) |
WILLS STEPHEN T |
Chief Operating Officer | 63.49K | Sale |
Fundamentals
Market cap$16.76M
Enterprise value$9.49M
Revenue (TTM)$13.19M
Gross profit$816.16K
EBITDA$-8.61M
Net income$-8.38M
EPS (TTM)$-2.96
Free cash flow$-10.67M
Total cash$7.49M
Total debt$223.68K
Book value / share$5.96
Shares outstanding1.78M
Float1.49M
Short % of float21.34%
Dividend yield0.00%
Beta (5Y)-0.01
Valuation & profitability ratios
Trailing P/E—
Forward P/E-5.07
PEG ratio1.62
Price / sales—
Price / book1.58
EV / revenue0.72
EV / EBITDA-1.10
Gross margin6.19%
Operating margin-1469.50%
Profit margin-63.54%
Return on equity-877.53%
Return on assets-91.90%
Debt / equity3.35
Current ratio4.61
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $0 | $4.49M | $4.85M | $1.47M | -100.0% |
| Operating revenue | $0 | $8.88M | $12.46M | $6.07M | -100.0% |
| Cost of revenue | $0 | $97.64K | $418.47K | $217.53K | -100.0% |
| Gross profit | $0 | $4.39M | $4.44M | $1.25M | -100.0% |
| Research & development | $14.90M | $22.40M | $22.63M | $21.33M | -33.5% |
| Selling, general & admin | $7.81M | $12.27M | $15.29M | $16.51M | -36.4% |
| Total operating expense | $22.71M | $34.67M | $37.92M | $37.84M | -34.5% |
| Operating income | -$22.71M | -$30.28M | -$33.49M | -$36.59M | +25.0% |
| Net interest income | -$15.03K | -$17.11K | -$20.01K | -$29.68K | +12.2% |
| Pre-tax income | -$17.31M | -$29.74M | -$28.71M | -$36.20M | +41.8% |
| Tax provision | — | $0 | -$4.67M | $0 | — |
| Net income | -$17.31M | -$29.74M | -$24.04M | -$36.20M | +41.8% |
| Net income to common | -$17.31M | -$29.74M | -$24.04M | -$36.20M | +41.8% |
| Basic EPS | -32.15 | -101.16 | -110.50 | -189.50 | +68.2% |
| Diluted EPS | -32.15 | -101.16 | -110.50 | -189.50 | +68.2% |
| EBIT | -$17.29M | -$29.72M | -$28.69M | -$36.17M | +41.8% |
| EBITDA | -$17.03M | -$29.38M | -$28.40M | -$36.04M | +42.0% |
| Basic shares | 538.35K | 293.95K | 217.80K | 190.88K | +83.1% |
| Diluted shares | 538.35K | 293.95K | 217.80K | 190.88K | +83.1% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $2.56M | $9.53M | $7.99M | $29.94M | -73.1% |
| Cash & short-term investments | $2.56M | $9.53M | $10.98M | $29.94M | -73.1% |
| Accounts receivable | — | $0 | $2.92M | $1.78M | — |
| Inventory | — | $0 | $526.00K | $944.47K | — |
| Total current assets | $2.92M | $9.77M | $16.32M | $34.60M | -70.1% |
| Property, plant & equipment | $290.61K | $915.68K | $1.56M | $1.42M | -68.3% |
| Total assets | $3.27M | $10.74M | $17.94M | $36.07M | -69.6% |
| Total current liabilities | $8.01M | $9.66M | $15.13M | $16.26M | -17.1% |
| Total debt | $163.78K | $590.34K | $1.05M | $1.15M | -72.3% |
| Total liabilities | $8.04M | $10.85M | $19.92M | $19.80M | -25.9% |
| Retained earnings | -$459.07M | -$441.77M | -$412.03M | -$387.99M | -3.9% |
| Shareholder equity | -$4.78M | -$111.50K | -$1.98M | $16.27M | -4,184.5% |
| Working capital | -$5.09M | $111.99K | $1.19M | $18.34M | -4,645.7% |
| Net tangible assets | -$4.78M | -$111.50K | -$1.98M | $16.27M | -4,184.5% |
| Shares issued | 929.60K | 358.53K | 233.13K | 185.42K | +159.3% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$17.31M | -$29.74M | -$24.04M | -$36.20M | +41.8% |
| Depreciation & amortisation | $258.92K | $339.07K | $288.33K | $126.67K | -23.6% |
| Stock-based compensation | $1.38M | $1.87M | $1.67M | $2.51M | -26.2% |
| Change in working capital | -$758.79K | -$3.41M | -$2.35M | $3.44M | +77.7% |
| Operating cash flow | -$21.31M | -$31.46M | -$29.27M | -$29.92M | +32.3% |
| Capital expenditure | — | -$42.53K | -$433.93K | -$261.37K | — |
| Investing cash flow | $3.13M | $12.45M | -$3.43M | -$261.37K | -74.9% |
| Financing cash flow | $11.21M | $20.55M | $10.75M | $18.36K | -45.4% |
| Free cash flow | -$21.31M | -$31.50M | -$29.71M | -$30.18M | +32.4% |
| End cash position | $2.56M | $9.53M | $7.99M | $29.94M | -73.1% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $3.92M | $116.04K | $8.85M | $0 | $0 | +3,278.8% |
| Operating revenue | $3.92M | $116.04K | $8.85M | $0 | $0 | +3,278.8% |
| Cost of revenue | — | — | — | $0 | $0 | — |
| Gross profit | — | — | — | $0 | $0 | — |
| Research & development | $3.52M | $4.32M | $2.53M | $1.97M | $3.76M | -18.6% |
| Selling, general & admin | $1.98M | $3.12M | $1.66M | $2.63M | $1.47M | -36.5% |
| Total operating expense | $5.50M | $7.44M | $4.19M | $4.60M | $5.23M | -26.1% |
| Operating income | -$1.58M | -$7.33M | $4.66M | -$4.60M | -$5.23M | +78.4% |
| Net interest income | -$1.27K | -$498 | -$2.00K | -$3.49K | -$1.79K | -154.6% |
| Pre-tax income | -$1.43M | -$7.26M | $4.68M | -$2.23M | -$4.81M | +80.3% |
| Net income | -$1.43M | -$7.26M | $4.68M | -$2.23M | -$4.81M | +80.3% |
| Net income to common | -$1.43M | -$7.26M | $4.68M | -$2.23M | -$4.81M | +80.3% |
| Basic EPS | -0.37 | -2.86 | 4.81 | — | -9.13 | +87.1% |
| Diluted EPS | -0.37 | -2.86 | 4.26 | — | -9.13 | +87.1% |
| EBIT | -$1.43M | -$7.26M | $4.68M | -$2.23M | -$4.81M | +80.3% |
| EBITDA | -$1.41M | -$7.25M | $4.69M | -$2.17M | -$4.76M | +80.5% |
| Basic shares | 3.91M | 2.54M | 971.65K | — | 526.89K | +54.0% |
| Diluted shares | 3.91M | 2.54M | 1.10M | — | 526.89K | +54.0% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $10.16M | $14.48M | $1.27M | $2.56M | $2.52M | -29.8% |
| Cash & short-term investments | $10.16M | $14.48M | $1.27M | $2.56M | $2.52M | -29.8% |
| Accounts receivable | — | $1.64M | $6.89M | — | — | — |
| Total current assets | $12.79M | $17.47M | $8.37M | $2.92M | $3.23M | -26.8% |
| Property, plant & equipment | $418.46K | $460.25K | $244.88K | $290.61K | $438.30K | -9.1% |
| Total assets | $13.23M | $17.93M | $8.61M | $3.27M | $3.73M | -26.2% |
| Total current liabilities | $2.54M | $6.33M | $8.22M | $8.01M | $10.05M | -60.0% |
| Total debt | $286.66K | $348.79K | $132.45K | $163.78K | $262.22K | -17.8% |
| Total liabilities | $2.63M | $6.46M | $8.22M | $8.04M | $10.12M | -59.2% |
| Retained earnings | -$463.09M | -$461.66M | -$454.40M | -$459.07M | -$456.84M | -0.3% |
| Shareholder equity | $10.59M | $11.47M | $396.40K | -$4.78M | -$6.39M | -7.6% |
| Working capital | $10.25M | $11.13M | $151.52K | -$5.09M | -$6.82M | -8.0% |
| Net tangible assets | $10.59M | $11.47M | $396.40K | -$4.78M | -$6.39M | -7.6% |
| Shares issued | 1.78M | 1.76M | 973.29K | 929.60K | 571.14K | +1.1% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$1.43M | -$7.26M | $4.68M | -$2.23M | -$4.81M | +80.3% |
| Depreciation & amortisation | $16.95K | $14.39K | $14.39K | $52.99K | $53.30K | +17.8% |
| Stock-based compensation | $419.97K | $310.74K | $167.71K | $336.61K | $347.69K | +35.2% |
| Change in working capital | $266.81K | $2.10M | -$6.51M | $4.20K | -$647.53K | -87.3% |
| Operating cash flow | -$4.42M | -$4.81M | -$1.62M | -$4.09M | -$5.35M | +8.1% |
| Capital expenditure | -$38.48K | — | — | — | — | — |
| Investing cash flow | -$38.48K | — | — | $630.00K | $0 | — |
| Financing cash flow | $138.88K | $18.02M | $328.20K | $3.50M | $4.46M | -99.2% |
| Free cash flow | -$4.46M | -$4.82M | -$1.62M | -$4.09M | -$5.35M | +7.6% |
| End cash position | $10.16M | $14.48M | $1.27M | $2.56M | $2.52M | -29.8% |
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -1.13 | -1.11 | +1.3% |
| Mar 2026 | -1.24 | -0.37 | +70.2% |
| Dec 2025 | -1.47 | -2.86 | -94.6% |
| Sep 2025 | — | 4.26 | — |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -1.13 | 2 | $833.33K | — |
| Next quarter | -0.42 | 2 | $976.00K | +741.1% |
| Current year | -2.99 | 0 | $13.72M | — |
| Next year | -1.86 | 2 | $7.33M | -14.9% |
Analyst targets & ownership
Mean target$53.50
High target$60.00
Low target$47.50
Implied upside468.54%
Analyst count3
ConsensusSTRONG BUY
Strong buy / Buy1 / 2
Hold0
Sell / Strong sell0 / 0
Held by insiders8.11%
Held by institutions50.11%
Institutions holding30
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
9.51
-1.00% from price
SMA 20
10.34
-8.97% from price
SMA 50
9.94
-5.29% from price
SMA 100
10.89
-13.63% from price
SMA 200
14.95
-37.04% from price
EMA 12
9.69
-2.92% from price
EMA 26
10.08
-6.66% from price
EMA 50
10.38
-9.35% from price
RSI (14)
44.0
Neutral
MACD (12,26,9)
-0.39
Hist -0.15
ATR (14)
0.89
9.46% of price
Realised vol 30D
108.2%
Annualised
Bollinger upper
12.72
20, 2σ
Bollinger lower
7.96
20, 2σ
50 / 200 cross
Death
9.94 vs 14.95
Trend bias
Below 200
-37.04%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
-0.10
Less volatile than market
Correlation to SPY
-0.01
Largely independent
Realised vol 30D
108.2%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-73.7%
Peak to trough
Max drawdown 5Y
-99.6%
Peak to trough
ATR 14
0.89
9.46% of price
Beta (reported)
-0.01
5Y monthly, from filing
Short interest
Shares short
361.21K
Prior 349.50K
Change vs prior
+3.3%
Shorts adding
% of float
21.34%
Heavily shorted
% of shares out
20.30%
Against total outstanding
Days to cover
2.6
Liquid
Float
1.49M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Dec 12, 25 | Laidlaw & Co. | INITIATED | — | Buy |
| Feb 13, 25 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Feb 7, 25 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Dec 19, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Nov 25, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Nov 4, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Oct 31, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Oct 24, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Jun 20, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Jun 12, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| May 15, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| May 8, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay date—
Last split1:50
Split dateAug 12, 2025
SEC filings
Periodic Financial Reports
10-K · 2026-09-28
Corporate Changes & Voting Matters
8-K · 2026-08-03
Proxy Statements
DEF 14A · 2026-06-25
Notification filed by issuer to voluntarily withdraw a class of securities from listing and registration on a national securities exchange
25 · 2026-05-28
Corporate Changes & Voting Matters
8-K · 2026-05-18
Periodic Financial Reports
10-Q · 2026-05-13
Periodic Financial Reports
10-Q · 2026-02-17
Corporate Changes & Voting Matters
8-K/A · 2025-12-19
Headlines
Palatin Technologies, Inc. Q4 2026 Earnings Call Summary
Moby · 8d ago
Palatin Reports Fiscal Year 2026 Financial Results and Provides Business Update
PR Newswire · 9d ago
StreetWatch: A $2.9 Billion Takeover Put a Spotlight on Relentless Hunger. Palatin Technologies Is Developing the Next Generation of the Drug That Seeks to Treat It
TMX Newsfile · 62d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.