Palatin Achieves Milestone Payment Of $6.5 Mln Under Boehringer Ingelheim Collaboration

(RTTNews) - Palatin Technologies, Inc. (PTNTD.PK), Monday announced that the company has reached a research milestone, worth 5.5 million euros, equivalent to $6.5 million, under its collaboration with Boehringer Ingelheim.

The collaboration with Boehringer Ingelheim was signed on August 18, 2025, to develop potential first-in-class melanocortin receptor-targeted treatments for patients with retinal diseases.

Commenting on the recent achievement, CEO Carl Spana said, "Melanocortin receptor agonists represent a differentiated and promising approach to address the underlying drivers of retinal diseases such as diabetic retinopathy and diabetic macular edema, which affect an estimated one in three people living with diabetes."

Currently, Palatin's stock is trading at $8.50, up 1.80 percent on the OTC Markets.