CRANBURY, N.J., June 27, 2014 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE MKT: PTN), a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential, announced that it is joining the Russell Microcap® Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes later today. Palatin was included on a preliminary list of additions posted on www.russell.com/indexes.
"We are pleased to be added to the Russell Microcap Index," said Carl Spana, Ph.D., President and CEO of Palatin. "We believe being included in this index will raise our profile within the investment community and provide us with the opportunity to expand our shareholder base as we move into Phase 3 clinical trials with bremelanotide for female sexual dysfunction later this year."
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell Investments, a global asset manager, determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.2 trillion in assets are benchmarked to the Russell Indexes.
About Palatin Technologies
Palatin Technologies, Inc. is a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential. For additional information regarding Palatin, please visit Palatin's website at http://www.palatin.com.
Statements in this press release that are not historical facts, including statements about future expectations of Palatin Technologies, Inc. such as statements about listings on indexes, potential clinical trial results, potential actions by regulatory agencies including the U.S. Food and Drug Administration (FDA), regulatory plans, development programs, and market potential for bremelanotide and other product candidates, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Palatin intends that such forward-looking statements be subject to the safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Palatin's actual results to be materially different from its historical results or from any results expressed or implied by such forward-looking statements. Palatin's actual results may differ materially from those discussed in the forward-looking statements for reasons including, but not limited to, results of nonclinical, preclinical and toxicology studies, result of clinical trials, regulatory actions by the FDA and the need for regulatory approvals,
Palatin's ability to fund development of its technology and establish and successfully complete clinical trials, the length of time and cost required to complete clinical trials and submit applications for regulatory approvals, products developed by competing pharmaceutical, biopharmaceutical and biotechnology companies, commercial acceptance of Palatin's products, and other factors discussed in Palatin's periodic filings with the Securities and Exchange Commission. Palatin is not responsible for updating for events that occur after the date of this press release.
CONTACT: Palatin Technologies Investor Inquiries: Stephen T. Wills, CPA, MST, Chief Operating Officer / Chief Financial Officer, Tel: (609) 495-2200 / firstname.lastname@example.org; Palatin Technologies Media Inquiries: Paul Arndt, MBA, LifeSci Advisors, LLC, Managing Director, Tel: (646) 597-6992 / Paul@LifeSciAdvisors.com
SOURCE Palatin Technologies, Inc.