Palatin Technologies (OTCMKTS:PTNT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Palatin Technologies, Inc. (OTCMKTS:PTNT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.77 and traded as high as $25.94. Palatin Technologies shares last traded at $25.94, with a volume of 132 shares trading hands.

Palatin Technologies Trading Up 0.6%

The firm has a 50-day simple moving average of $22.19 and a two-hundred day simple moving average of $11.87. The company has a market capitalization of $25.39 million, a price-to-earnings ratio of -16.83 and a beta of 0.75.

Palatin Technologies Company Profile

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder. It is also developing oral PL8177, a selective MC1r agonist peptide that is in Phase 2 clinical trial for the treatment of inflammatory bowel diseases. In addition, the company engages in the development of PL9643, a peptide melanocortin agonist active at multiple MCrs, including MC1r and MC5r for anti-inflammatory ocular indications, such as dry eye disease, which is in Phase 3 clinical trial; and melanocortin peptides for diabetic retinopathy.